In the dinning room

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Mari Carmen

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IN THE DINNING ROOM
HOW TO BEHAVE PROPERLY AT THE TABLE

11/02/2013
Nivel 4º

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Fully Renovated, 199 room – Full-Service, IHG Brand Hotel For Sale in Fast Growing Market • Airport Location. 4 min shuttle ride from Evansville Regional Airport and minutes from downtown and a variety of corporate and leisure demand generators, including a new $61M medical research and academic facility in Downtown Evansville (opening early 2018). • Priced Well Below Market Comps. $70,352 / room (compare avg Comp: $77,577 / room). • Generating over $5,000,000 in annual revenues. • Fully Renovated. $3.3M in capital improvements since 2011, including a $2.7M renovation. • Unbeatable Land Value. $87.50/SF (compare: $116/SF average Comp value). • Competitive Advantage – Size Does Matter. The Hotel offers 11,058 SF of flexible meeting space (compare: 1,700 SF offered by competitors), a huge competitive advantage in the group travel segment and when competing for corporate accounts. Current contracts include: Toyota, Whirlpool, General Motors, CLC Lodging, Atlas Van Lines and more. • Large Corporate Accounts. Current contracts include: Toyota, Whirlpool, General Motors, CLC Lodging, Atlas Van Lines, Home Menders Inc., Tri State Aero, Berry Plastics, and more. • Value Add Opportunity. Cost inefficiencies have limited NOI growth. An experienced hotel operator can capture several high quality revenue streams simply by self-managing and/or re-flagging. Investors can also expect immediate cost savings in the amount of $131,730 annually on utilities expenses simply by implementing the detailed energy efficiency project proposal. • Motivated Seller: Omninet Capital, a LA based investment firm with over 10M SF of Retail and Office properties, desires to divest its interest in the hotel (the only Hotel asset in its portfolio) and return to its core investment strategy. The Hotel’s location in Southern Indiana is also inconvenient and burdensome for its LA based personnel.

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