Hilton Garden Inn Ames, IA

Listing Agents

Lora Simpson
T | 515.729.4516
lsimpson@paramountlodging.com

Adam Montufar
T | 515.446.4181
amontufar@paramountlodging.com

Detailed Information
Location
Property Highlights
  • Fee simple interest in the receiver managed, lender owned 112-room Hilton Garden Inn Ames, IA
  • Upscale select-service Hilton asset in Big 12 University market offered at a substantial discount to replacement cost
  • Strong operational upside for new ownership with property under receiver management since February 2021 and REO since September 2021
  • Subject Hotel ran a pre-COVID RevPAR of ~$90 and finished YE 2021 with a T3 RevPar increase of ~180%, signaling a healthy return of demand
  • Available unencumbered of management with ability to retain the Hilton Garden Inn brand through a new relicense agreement with Hilton
  • Minimal change of ownership PIP anticipated with $2.4MM (+$21k/key) of property renovations already completed in recent years
  • Conveniently situated just southwest of Iowa State University at Highway 30 exit 144 with upwards of 21,000 vehicles passing the location daily
  • Proximate to all core market demand including Iowa State University (~31k students), Reiman Gardens, and Mary Greely Medical Center
  • Ames is located off major Interstate 35, directly north and conveniently accessible from Iowa’s largest MSA and state capital of Des Moines, IA
Location