Hotels for Sale

RED LION HOTEL & CONFERENCE CENTER CHEYENNE, WY

Address:
Cheyenne, Wyoming
Description:
  • Leasehold interest in the REO / bank owned and third party managed 245-room Red Lion Hotel & Conference Center Cheyenne offered at a substantial discount to replacement cost
  • Property offered for individual sale in the October 2nd auction event, as part of a two-property bank-owned portfolio
  • Available unencumbered of debt and management, with Red Lion interested in relicensing the property, or buyer may pursue multiple rebranding options that are available for conversion
  • Significant operational upside following foreclosure process with non-regional borrower and absentee management, with a long-term leasehold interest of approximately 97-years to be conveyed
  • Readily accessible and visible to all traffic along Interstate 80 and US Highway 85, with approximately 20,000 vehicles passing the location daily
  • Unique opportunity to invest in economically stable state capital market with current unemployment rate of 3.9% and the two largest employers government affiliated, including the Wyoming State Capital and F.E. Warren Air Force Base
  • Proximate to all primary area demand generators including the Wyoming State Capital, F.E. Warren Air Force Base, Cheyenne Regional Medical Center, Laramie Community College, and the Downtown Cheyenne Historic District
  • Ideally situated within Wyoming’s State Capital and Wyoming's largest metropolitan area, which serves as the northern terminus of the rapidly growing Front Range Urban Corridor with a total combined corridor population of approximately $5MM (nearly a 15% increase since 2010)
  • Optimal time to be investing in broader Cheyenne market with 2019 hotel market occupancy growing by 7.2% over 2018 figures
  • Cheyenne is well positioned for broader economic growth with plans well underway on multiple large regional development projects, including the ~$18MM Innovate Biotech Manufacturing Center totaling 80,000SF, as well as, the $55MM Sweetgrass Development which upon completion will total approximately 2,400 acres and will be the state's largest event facility

Listing Agents   

Suzanna Farley Aldrich
T: 406.478.3010
Email

Bennett Webster
T: 312.339.3698
Email

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