Auction: October 25-27 - Hampton Inn & Suites Natchez - Natchez, MSOctober 1, 2021
The Hospitality Group just announced an auction October 25-27 for a select-service hotel in western Mississippi.
Avison Young, as the sole exclusive agent, is pleased to offer the fee simple interest in the Hampton Inn & Suites Natchez (hereinafter “Property” or “Hotel”), a select-service hotel located at 267 South Canal Street in Natchez, Mississippi. The Property is situated near the Under-the-Hill Historic District of downtown Natchez along the Mississippi River and is easily accessible via Route 61 and Natchez Trace Parkway. Local tourist attractions near the Hotel include Natchez National Historic Park, the Longwood Antebellum Museum, Grand Village of Natchez Indians, Lansdowne Plantation, and the Natchez Museum of African American History and Culture. Local businesses near the Hotel include Jordan Carriers, Magnolia Bluffs Casino, Supermarket Operations, Old South Winery, and Bunge Grain. Local universities include Alcorn State University Natchez and Copiah-Lincoln Community College.
The Property is a four-story, interior corridor hotel which opened in December of 2007. The Hotel has an outdoor pool, fitness center, business center, a 600 square foot (SF) meeting room, and hotel wide Wi-Fi Internet access. The Property offers 86 non-smoking guestrooms with both king and queen beds and suite options available. Guestrooms include flat-screen televisions, a work desk, ergonomic task chair, refrigerator, and coffee maker.
- The 86-room Hampton Inn & Suites Natchez, MS presents potential buyers with an excellent value add opportunity to purchase an upscale Hilton-flagged property at a significant discount to replacement cost.
- Institutional Ownership / Third Party Management – the Hampton Inn & Suites is owned by an institutional CMBS Special Servicer and is managed by a national third party management company. This property offers a new owner an opportunity to take over the operations of the property with a more hands-on approach in order to improve both the topline revenue and streamline expenses, thereby allowing better flowthrough to the bottom line.
- Long-term Franchise Affiliation – Upon completion of the comprehensive change-of-ownership PIP, it is anticipated that a qualified buyer will receive a new long-term franchise agreement with Hilton.
- Strong 2021 Performance – the property has had exceptionally strong performance in 2021 following a Covid-impacted 2020 year. As of July 2021, the property is outperforming YTD 2019 RevPAR by over $5 (7.6%) and the trailing twelve month RevPAR by approximately $2 (2.8%).
- Fee Simple – the property is being offered with fee simple ownership rights.
- Unencumbered of Debt and Management – the property will be delivered free of debt or management encumbrances.
- Property tours are available by appointment only on Tuesday, October 12th and Wednesday, October 20th. Please contact Michael Bernath to schedule an appointment.
For more information on this listing visit the Auction Site Here, or contact: