Hotels for Sale

Homewood Suites Memphis – Poplar, TN

Address:
Memphis, Tennessee
Description:
  • Fee-simple interest in the 140-room, institutionally-owned and Hilton brand-managed Homewood Suites by Hilton Memphis-Poplar offered at a fraction of replacement cost
  • Offered unencumbered of Hilton management or debt with the ability to retain the Hilton flag with a new long-term license agreement
  • Strong in-place trailing-12 month ~$85 RevPAR with room for further top-line growth with completion of the PIP and relicensing of the asset under the Homewood Suites flag
  • Opportunity for NOI margin improvements by adjusting rate / occupancy mix with current trailing-12 month occupancy of ~78%
  • Directly accessible to and visible from Poplar Avenue / US Route 72 and adjacent to Interstate 240 – in one of the most heavily trafficked interstate corridors for all of Tennessee with upwards of 140,000 vehicles passing the location daily
  • Ideally situated within the Poplar commercial corridor and less than one mile from the 42-acre / 479-bed St Francis Hospital-Memphis campus – one of the submarkets largest employers
  • Approximately seven miles from FedEx World Headquarters, the single largest employer in the entire Memphis MSA; currently employs ~30,000 people regionally
  • Located in the heart of the Memphis MSA and proximate to all key regional demand drivers including Beale Street, Graceland, and Memphis International Airport (with +5% passenger growth in 2019 and with January 2020 showing a nearly 8% increase over 2019 figures)

Listing Agents

Subu Thiagarajan
T: 510.205.7931
Email
BRE #01891134

Bennett Webster
T: 312.239.0560
Email

Brent Clemens
T: 312.239.0572
Email

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