Hotels for Sale

HOMETOWNE STUDIOS & SUITES O’FALLON, IL

Address:
O'Fallon, Illinois
Description:

UNDER CONTRACT

  • Fee simple interest in the institutionally owned and corporately managed 89-room HomeTowne Studios & Suites St. Louis O’Fallon, IL by Red Roof offered at a fraction of replacement cost
  • Property offered for individual sale through Ten-X in the July 24th auction event
  • Asset is offered unencumbered of branding, debt, and management
  • Moderate change of ownership PIP expected upon sale of asset to retain the HomeTowne Studios & Suites flag and multiple rebranding options for buyers electing to convert to alternative branding
  • Strong additional operational upside following completion of PIP or rebranding on the heels of 13.7% T12 month RevPAR growth
  • Situated adjacent to Interstate 64 with easy accessibility and direct visibility to the upwards of 75,000 vehicles passing the location daily
  • Within walking distance of several nationally recognized restaurants
  • Readily accessible to all regional O’Fallon, IL demand including the Scott Air Force Base, Southern Illinois University - Edwardsville (SIUE), Gateway Motorsports, St. Clair Square Regional Super Mall, and MidAmerica St. Louis Airport (BLV)
  • Located just minutes east of Downtown St. Louis and proximate to all St. Louis demand including the world famous and newly renovated Gateway Arch, Busch Stadium, America’s Center Convention Complex, Enterprise Center, Anheuser Busch Brewery, and St. Louis Lambert International Airport (STL)
  • Optimal time to be investing in the broader St. Louis MSA with approximately $8B of ongoing development within core St. Louis submarkets and STL Airport passenger traffic hitting 15-year highs with 5.9% year over year growth in 2018 and 40-consecutive months of positive passenger growth

Listing Agents

Beau Mullenix
T: 314.568.7098
Email

Bennett Webster
T: 312.239.0560
Email

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