|Sub Type:||Limited Service|
|Chain / Market Scale:||Upper Midscale|
|No. of Keys:||50|
Lodging Partners is pleased to offer the fee simple interest in the sale of the 50-room Hampton Inn Laurinburg, an award-winning select service hotel located in Laurinburg, NC.
o Very Strong In-Place Cashflow - The Hotel has very strong in-place cash flows, surpassing all historical levels and is well-positioned to continue to benefit from the increased activity along the I-74 corridor. YTD through October 2021, the Hotel is running 86.6% at $117.19 and is on track to exceed $1,810,000 in Revenue in 2021.
o Market - The Laurinburg Comp Set has had a strong recovery, and market occupancy has increased 46.7% YTD 10-2021 over the same timeframe in 2020 and is at 98% pre-pandemic levels of YTD 10-2019. The Hotel is well-positioned to continue to benefit from the recent renovations and the increased activity along the I-74 corridor. This growth trend is expected to continue throughout the remainder of the year and market performance is on pace to return to pre-pandemic levels by the end of this year.
o Hotel Demand - The Hotel is located near several major companies, including Campbell Soup, Pilkington Glass, and many others. There are also numerous local attractions and the University of North Carolina at Pembroke and St. Andrews University, both conveniently located near the Hotel, play an important role in the region and provide hotel demand from all the local university events and graduation.
o Renovations - Recently, over the past 2.5 years, over $1,150,000 ($23,000-room) of renovations and improvements have been completed and provide a significant upside opportunity for a new owner to drive rate and achieve further penetration.
o Franchise - Hampton Inn is expected to grant a 5-year standard license agreement with a very limited Product Improvement Plan (PIP).
|Property Name:||Login to view|
|Property Sub Type:||Limited Service|
|Chain / Market Scale:||Upper Midscale|
|No. of buildings:||1|
Guestroom Configuration - The unit configuration of the Hotel consists of the following: 50 Rooms (30 Double-Queens, 16 Kings, 2 King Suites, 2 ADA Queens). The hotel also features a double-bay Meeting Room.
Hotel Amenities - The Property is complete with select-service guest amenities that include complimentary hot breakfast, high-speed internet, business center, fitness center, seasonal outdoor pool, guest laundry, and approximately 1,440 square feet of flexible meeting space. Guestroom amenities include free high-speed Internet access, coffee makers, hairdryers, irons, ironing boards, microwaves, minifridges, and LCD televisions. The hotel is well-maintained and in good condition.
High Speed Internet
Upside Potential - The Hampton Inn offering represents a rare opportunity for a new owner to acquire a purpose-built, premium-branded, select-service lodging asset which has been the top-performing hotel in the competitive set, with additional top-line upside following over $1,150,000 ($23,000-room) of renovations and increased demand along the US-74 corridor. This property offers upside potential with more hands-on management. The ideal buyer will be an owner-operator who uses the opportunity to drive top-line revenue to increase the Hotel’s RevPAR index, revamping revenue management strategy and reducing unnecessary expenses to achieve a much stronger bottom-line cash flows. Combined with being ranked #1 hotel in Laurinburg by Tripadvisor, no incoming supply, and exceptional guest satisfaction scores, the Hampton Inn provides an excellent lodging investment opportunity in the current market.
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