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 122-room Red Roof HomeTowne Studios St Louis Airport
- Strong historic performance with trailing 36-month average occupancy of ~83%
- Asset is institutionally owned and third-party managed affording prospective regional owners strong operational upside
- Offered unencumbered of brand (with minimal LD’s), debt, and management with a variety of alternative brand options available for conversion
- Ability to execute a new long-term license agreement with the Red Roof brand with a reduced fee schedule
- 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 well-positioned for any forward-looking economic contraction, given limited labor requirements with no sales department or food and beverage offering
LOCATION SUMMARY
- Property is readily accessible via the I270 / Lindbergh Blvd interchange with upwards of 54,000 vehicles passing the location daily
- Asset is located adjacent to St Louis Lambert International Airport which saw a nearly 9% YOY increase in activity with approximately 14.9MM in passengers in 2023
- Ideal time to be in investing in the Lambert International Airport market amidst ongoing planning for a proposed $3B terminal redevelopment and modernization
- Proximate to all local Hazelwood aerospace demand including – Boeing, Davidson Surface/Air, Flight Safety International, and GKN Aerospace
- Convenient to the St. Louis area leisure destinations, including the Gateway Arch, Busch Stadium, Ball Park Village, America’s Center Convention Center, and the Enterprise Center
- St Louis is a top-20 MSA – home to more than 2.8 million residents and hosts upwards of 28 million tourists annually