Hotels for Sale

Crowne Plaza Auburn Hills, MI

Address:
Auburn Hills, Michigan
Description:
  • Fee Simple interest in the 190-room institutionally-owned and operated Crowne Plaza Auburn Hills Detroit
  • Property offered unencumbered of debt and management with the ability to retain the Crowne Plaza flag with a new long-term license agreement with IHG
  • Strong top-line and bottom-line operational upside through completion of the PIP and repositioning of the sales strategy
  • Situated adjacent to and directly visible from Interstate-75 (the most heavily trafficked interstate for the entire state) with upwards of 163,000 vehicles passing the location daily
  • Only full-serve asset within the comp-set that is directly visible from I-75 and is the most readily accessible property within the comp set via the newly renovated University Drive full-diamond interchange (the primary point of ingress/egress for the expansive University & Opdyke commercial, industrial, and office corridors)
  • Approximately two-miles from the 5.3MM SF Fiat Chrysler Headquarters & Technology Center - home to Fiat Chrysler, a ‘Big Three’ auto manufacturer and one of the largest employers in the state with ~46,000 Michigan employees and nearly 200,000 employees globally
  • Asset is uniquely well positioned to capitalize on ongoing Fiat Chrysler growth with current 2020 forecasts projecting a 15% increase in adjusted earnings on the heels of a 16% increase in Q4 2019 earnings
  • Approximately two-miles from Oakland University - the second largest university within the Detroit Metropolitan area - with current enrollment of +20,000 students, a Division I NCAA sports program, and approximately $60MM in current / planned expansions to better accommodate a 59% increase in student enrollment over the past ten years
  • Readily accessible to all other broader Oakland County demand including DTE Energy Music Theater, Meadow Brook Amphitheater, downtown Rochester, and the GM Lake Orion auto-plant which is set to receive $300MM in new investments to better position the plant as a focal point for GM’s growing electric vehicle business
  • Readily accessible to all neighboring Macomb County demand, including the expansive Detroit Defense Corridor accounting for nearly $26B in public and private defense related contracts in recent years
  • Optimal time to capitalize on the counter-cyclical growth in the Detroit Metropolitan Area on the heels of expansive late cycle growth across the region and the continued renaissance in downtown Detroit anchored by nearly $6B in private and public investments over the past decade
  • Optimal time to franchise with Crowne Plaza with current brand expansion at highest levels in a decade (29 new conversions in 2019) and IHG’s committing and investing to expand North America brand awareness and guest satisfaction to equivalent levels seen overseas where Crowne Plaza is ranked first amongst its peers for guest satisfaction

Listing Agents

Bennett Webster
T: 312.239.0560
Email

Brent Clemens
T: 312.239.0572
Email

Categories List:   

Send message to listing owner