Avison Young news: Find out the latest industry happenings
Quarterly and topical research insights to help your business gain competitive edge in commercial real estate.
Avison Young Lists Hot Springs IHG Portfolio in Hot Springs, Arkansas.January 5, 2022
Avison Young Hospitality Group is pleased to offer the Hot Springs IHG portfolio. This Hotel Portfolio consists of the 94-room Holiday Inn Express & Suites built in 2018 and the 85-room Staybridge Suites built in 2008. The two hotels are located proximate to each other in Hot Springs near Lake Hamilton and compete well within the Hot Springs Arkansas market. The properties were developed and are operated by current ownership, providing historical continuity at both properties. They are being delivered unencumbered of current debt and management.
Both the Holiday Inn Express and the Staybridge remained open during the Covid-19 pandemic and performed admirably in comparison to their competitive sets, consistently outpacing competitors in Occupancy, ADR, and RevPAR penetration. For the current year-to-date period, both assets are performing extremely well and are poised to bounce back to pre-pandemic performance by as early as Q1 2022.
There will be relatively minimal change-of-ownership PIP on a price-per-key basis for the portfolio, with the majority of the work being at the Staybridge Suites. The properties are proximate to many area demand generators and businesses including Hot Springs National Park, Bathhouse Row, Hot Springs Convention Center, and the Hot Springs Wax Museum. Additional market information and historical property financials are detailed in the pages of this offering.
- Two hotels, total of 179 guestrooms
- Minimal Change -Of- Ownership PIP
- Consistent Pre-Covid In-Place Cash Flow and Strong 2021 YTD performance
- Minimal new supply
If you would like more information on this Portfolio please get in touch:
678 522 5000