Hotels for Sale

FAIRFIELD INN & SUITES SAN ANGELO, TX

Address:
San Angelo, Texas
Description:

UNDER CONTRACT

  • Fee simple interest in the institutionally owned and third party managed 73-room Fairfield Inn & Suites San Angelo TX offered at a substantial discount to replacement cost
  • Property offered for individual sale in the April 7th auction event as part of larger seven asset Texas, Louisiana, and Oklahoma portfolio affording the buyers the opportunity to purchase multiple assets with strong regional operating economies of scale
  • The adjacent 80-room StayBridge Suites is also being offered simultaneously, providing buyers the opportunity to purchase adjacent assets and capitalize on strong operating synergies by owning two neighboring hotels serving different market segments and brand families
  • Strong operational upside for prospective buyers with a focused local / regional strategy and market knowledge
  • Ability for qualified buyers to retain the Fairfield Inn & Suites flag with a new long-term 15-year license upon completion of the PIP
  • Seller has completed approximately $2.3MM ($32k/key) in renovations in recent years
  • Ideally situated in San Angelo proximate to US Highway 87 and US Highway 87, the primary commercial corridor for the region with more than 44,000 vehicles passing the location daily
  • Proximate to local demand drivers including Angelo State University, San Angelo Regional Airport, Concho River Walk and Goodfellow Airforce Base
  • Optimal time to be investing in San Angelo - consistently ranked as one of the best small cities for business in the US from a variety of publications including Forbes ‘Best Small Cities for Jobs’, Kiplinger’s ‘Best Cities of the Next Decade’, and CNN Money ‘Best Cities to Launch a Small Business’
  • Ideal opportunity to invest in Texas, as oil prices continue to rally and are approaching 15-month highs
  • Migration trends continue to heavily favor Texas as residents are attracted to the quality of life and as businesses leaders seek the pro-business environment and lesser tax burden

Listing Agents

Kami Burnette
T | 512.831.5605
Email

Mason McDavid
T | 512.543.4653
Email

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