Hotels for Sale

COURTYARD MARRIOTT LAFAYETTE, LA

Address:
Lafayette, Louisiana
Description:
  • Fee Simple interest in the lender involved, 89-room institutionally owned and third-party managed Courtyard by Marriott Lafayette with the ability to retain the Courtyard flag via a long-term relicense agreement with Marriott
  • The property is steel-frame construction and being offering for sale at a substantial discount to replacement cost and unencumbered of debt and management
  • Minimal change of ownership PIP expected with approximately $1.6MM of PIP related renovation work completed in 2018
  • Significant built-in operational upside post renovation with the property continuing to stabilize and currently underperforming the competitive set RevPAR index
  • Readily accessible via US Route 90 with approximately 43,000 vehicles passing the location daily
  • Situated in the heart of the airport corridor with Lafayette Airport currently in the midst of a $90MM terminal expansion designed to expand current domestic route offerings
  • Within walking distance of numerous nationally recognized restaurants
  • Proximate to all broader regional demand including the University of Louisiana Lafayette, Lourdes Regional Medical Center, the Canjundome, Lafayette General Medical Center, Acadiana Mall, and downtown Lafayette

Listing Agents

Mike Schlictman
T | 803.920.4173
Email

Bennett Webster
T: 312.339.3698
Email

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