The Inn on the Square

South Carolina, United States

$4950000

Sale conditions: Market

Snapshot

Active

Type: Hotel
Sub Type: Boutique
Chain / Market Scale: Independent
Brand: 103
Corridor: Interior
No. of Keys: 49

JUST LISTED - Lodging Partners is pleased to offer the fee simple interest in the sale of The Inn on the Square, a stylish 49-unit full-service Boutique hotel located in the center of Greenwood's Uptown District and near shopping, dining, and local businesses. Greenwood is the county seat of Greenwood County, SC and home to Lander University. Greenwood is the vibrant economic center of the Lakelands Region and the hub for retail, dining, and recreation in the seven-county region.

This Boutique hotel is complete with full-service amenities that include an elegant 45-seat restaurant, a cozy bar-eatery with live music, complimentary hot cooked-to-order breakfast, high-speed internet, a business center, fitness center, and approximately 4,700 square feet of flexible meeting space.

Upside Potential - This Property offers significant upside potential to reposition the Hotel to a soft-brand and drive top-line revenue. The Hotel could be expanded to 55 guestrooms, which would be an increase of 12% and drive additional room revenue. The Hotel would benefit greatly from more hands-on management and direct sales efforts. The ideal buyer will be a regional operator who uses the opportunity to increase the Hotel’s RevPAR index, add a revenue management strategy, and reduce unnecessary F&B expenses to achieve a much stronger bottom-line flow-through. The Hotel has historically performed all of banquet and catering services in-house and has incurred very high costs and staffing with these events. There is strong demand for rental of the Hotel’s 4,700 SF of meeting and banquet space in the market. A new investor has the opportunity to implement numerous creative strategies to significantly reduce F&B payroll and other operating expenses to increase the F&B profit margins. Some of these strategies include using outside catering for all banquet events, converting the restaurant to a breakfast buffet, and offering a limited menu during evening hours in the bar and lounge.

Highlights:

General Property Information


Property Name:
Property Type: Hotel
Property Sub Type: Boutique
Chain / Market Scale: Independent
Brand: 103
Corridor: Interior
Keys: 49
Building Status: Existing
No. of buildings: 1
Stories: 3
Parking Type: Surface
Room Inventory Description:

Guestroom Configuration - Arranged over two floors, the Hotel offers 49 well-appointed rooms and includes spacious Executive guestrooms with a king bed, Atrium rooms with one queen bed, and Uptown rooms with two queen beds or a king bed. The property also includes 3 large oversized suites in the Annex building. Guestroom amenities include free high-speed Internet access, coffee makers, and LCD televisions. Upgraded rooms also include microwaves, mini fridges, and-or whirlpool tubs.

The Hotel could be expanded by 6 additional rooms to 55 guestrooms, which would be an increase of 12% of available rooms and drive additional room revenue. (The Fitness Center & Housekeeping office currently occupy guestrooms and could be easily relocated, and the Annex Meeting space could be converted into 3 suites or 4 rooms).

For more information, click the link to the DATA ROOM below.

Common area amenities:

Business Center

High Speed Internet

Exercise Room

Lounge

Restaurant

Source of Business:

Group

Transient

Leisure

Commercial

Sale Note:

For more information, click the link to the DATA ROOM below.

Tours of the Property will be available on by appointment only. If you would like to schedule a tour appointment, please contact Ford Barton at Ford@Lodging-Partners.com

Please DO NOT contact the staff, management, or ownership of the Hotel to request additional information or to arrange a site tour.

Additional Links:

Location


Country: United States
State: South Carolina
Postal Code:
APN/Parcel ID:
Location Type:
Location Overview:

3rd Party Website



Brokers

Ford C Barton

Principal
Lodging Partners, LLC

NC #264495
SC #81172
GA #355709

704 341 8488
ford@lodging-partners.com


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