Listing Agents
Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com
Mike Schlictman
T | 803.920.4173
mikes@paramountlodging.com
Andrew Makhlouf
312.610.9067
amakhlouf@paramountlodging.com
Detailed Information
Location
Property Highlights
- Fee Simple interest in the Extended Stay America Detroit Portfolio
- Portfolio includes seven assets totaling 722 rooms across the Metro Detroit market
- Properties are available for individual or portfolio sale
- Strong in-place top-line performance with portfolio averaging nearly 75% occupancy and the opportunity to further improve rate and yield
- Properties are corporate owned and managed affording prospective owners strong operational upside
- Assets are offered unencumbered of brand, debt, and management with a variety of alternative brand options available for conversion, or the ability to relicense under the existing flag
- Product type with fully equipped kitchens is ideal for potential residential conversion or other alternative use pending zoning and municipality approval
- High margin business model is ideally positioned for any forward-looking economic contraction given limited labor requirements with no sales department or F&B offering
- Assets are uniquely well located across Detroit MSA allowing regional operating scale and diversified demand generators
- Detroit ranks first amongst Top-25 MSA’s for forward looking corporate hotel bookings with ‘on the books’ occupancy up nearly 8% year-over-year
- Unique counter-cyclical investment opportunity amidst Detroit’s ongoing renaissance w/ multiple local billion-dollar developments including the $6.4B Gordie Howe US/Canadian Bridge