Listing Agents
Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com
Brent Clemens
T | 312.402.2959
bclemens@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee simple interest in the 192-key AC Hotel by Marriott St. Louis Central West End
- Institutional-grade, steel-framed and reinforced concrete asset opened in December 2021
- Newly constructed upscale select service Marriott in a top 25 MSA with a ~$110 in-place RevPar and growing
- Improving penetration index with a YOY current month RevPAR gain of nearly 30% as the hotel emerges as a market leader
- Project benefits from a PILOT structure and has a fixed tax schedule for 10 years
- Option to retain or release current institutional third-party management and ability to relicense the AC by Marriott flag for a long-term agreement with minimal PIP
- Ideally located in The Central West End of St. Louis, a vibrant, cosmopolitan neighborhood known for its charming mix of historic architecture, trendy boutiques, art galleries, and a diverse array of dining options
- Situated adjacent to Forest Park – a focal point for St. Louis leisure demand and home to the St. Louis Art Museum, St. Louis Science Center, the Missouri History Museum, and St. Louis Zoo
- The subject hotel is walking distance to BJC HealthCare/Barnes-Jewish Hospital, St. Louis Children’s Hospital, Washington School of Medicine, and the Cathedral Basilica of St. Louis
- Immediately accessible to additional local demand including Washington University, the Cortex Innovation Community, St. Louis University, Contemporary Art Museum of St. Louis, Topgolf, and Ameren Corporation
- Readily accessible to all downtown and regional demand including The Gateway Arch, St. Louis Ballpark Village, Busch Stadium, America’s Convention Center Complex, The Dome at America’s Center, St. Louis City SC, Enterprise Center, and St. Louis Lambert International Airport
- There are $3.8 billion in projects targeted for downtown St. Louis alone including the $1.8 billion Gateway South / Chouteau’s Landing development by the riverfront and $260 million phase one of the America’s Center Convention Complex expansion scheduled for completion in 2024
- Broader regional developments that will positively alter the city’s future landscape include a $3.0 billion reconfiguration of St. Louis Lambert International Airport and Boeing’s $1.8 billion Project Voyager expansion project among many others