Hotels for Sale

Mainstay Suites/Sleep Inn Port St. Lucie, FL

Address:
Port St. Lucie, FL, Florida
Description:
  • Fee simple interest in the institutionally owned and third party managed 80-room dual-branded Mainstay Suites / Sleep Inn @ PGA Village Port St. Lucie offered at a substantial discount to replacement cost
  • Property offered for individual sale in the May 6th auction on Ten-X
  • Available unencumbered of debt and management with the ability to retain the Mainstay Suites / Sleep Inn brand with a new long-term license
  • Unique dual-branded hotel with a large majority of extended-stay room types, ideal for capturing both transient business and profitable extended-stay demand in the market
  • Strong operational top-line upside driven by growing local economy, escalating room contract demand, and completion of the minimal change of ownership PIP
  • RevPar has increased by 8.9% for YTD February 2020, compared to YTD February 2019.
  • The competitive set RevPar has posted strong growth for the three months ending January 2020, at 9.5% and 5.1%, for the Sleep Inn and Mainstay comp sets, respectively
  • Significant NOI upside and improved revenue management opportunity through transition to a regional owner/operator with stronger local economies of scale
  • Adjacent to the heavily trafficked Interstate-95 with upwards of 80,000 cars passing the location daily
  • Unparalleled location adjacent to the PGA Golf Club at PGA Village – ranked among the ’75 Best Golf Resorts’ by Golf Digest in recent years
  • Hotel is well positioned to capitalize on group business including a new five-year contract with the Mets minor league baseball operations nearby
  • Ideally located and easily accessible to all core Port St Lucie demand including Clover Park, St Lucie Medical Center, Lawnwood Regional Medical Center, MIDFLORIDA Credit Union Event Center, Indian River Community College, Keiser University, and Savannas Preserves

Listing Agents

Brian Guernier
T | 407.203.9458
Email

Sean Banilivy
T: 516.456.7525
Email

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