Hotel next to Arizona State University!

Tempe, AZ (Maricopa County)

Quality Inn ASU

Asking Price:$3,700,000

Cash Flow:N/A

Gross Revenue:N/A

EBITDA:N/A

FF&E:N/A

Inventory:N/A

Real Estate:N/A

Established:2000

Hotel next to Arizona State University!

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Business Description

The Quality Inn at ASU is a 52 room, interior corridor hotel, located just 1 mile from ASU’s main campus and a block from ASU’s masterplan expansion which includes major developments of multifamily, office towers, and athletic facilities. This deal presents operational upside as we go into the season, however this opportunity is really for the long term buyer. With such a high barrier to entry market along the University corridor, this asset is perfect for a boutique conversion to capitalize on its great location and will attract guests who desire the originality that Marriott’s AC Hotels and Moxy have already brought to the market, but at a price point that’s more affordable to the common traveler.

Detailed Information

Real Estate:
Owned
Building SF:
22,793
Facilities:
Fee simple. Includes all business related equipment including, but not limited to furniture, fixtures, beds, case goods, and IT equipment.
Competition:
Located 1 mile from Arizona State University, right off of University Dr. It is also located 1/2 mile from ASU's 365 acre master planned expansion. In addition, the hotel is 2 miles from the Chicago Cub's Spring Training Facility, Sloan Park.
Growth & Expansion:
Repositioning to a higher end independent limited service hotel will fill a void in the Tempe hotel market.
Financing:
No
Support & Training:
Choice Hotels, franchisor for Quality Inn will provide training required to run the hotel successfully. Given the hotels premier location, other franchisors have expressed interest in having one of their brands at this property.
Reason for Selling:
Retiring
Franchise:
This business is an established franchise
Business Website:
http://newgenadv.com/properties/quality-inn-asu/

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Dinesh Rama

Business Listed By:
Dinesh Rama

NewGen Advisors

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