As the exclusive representative of the seller, Marcus & Millichap’s Hospitality Division is pleased to present for sale to qualified investors the Dual-Brand Clarion Inn Events Center & Suburban Studios Pueblo North (‘Hotel’ or ‘Property’) located in Pueblo, Colorado. The Choice Hotels-branded Hotel is offered at $8,300,000 or $44,864 per key.
The Dual-Brand Clarion Inn Events Center & Suburban Studios Pueblo North is a 185-room Hotel located at 4001 N Elizabeth Street in Pueblo, Colorado. Situated on a 5.4-acre lot near the intersection of Interstate 25 and U.S. Highway 50, the Property is located 45 miles south of Colorado Springs. Various common area amenities at the property include an indoor pool with a hot tub, fitness center, kitchen, meeting space, banquet space, breakfast area, and a lounge area with a bar.
Pueblo, Colorado, is a vibrant city known for its rich cultural events and culinary staples. In late August, the town buzzes with activity from the Colorado State Fair, a celebration of agriculture, entertainment, and community spirit. September brings the Chili and Frijoles Festival, a lively event highlighting Pueblo's famous green chilies and diverse culinary traditions. Throughout the year, visitors to Pueblo seek out the Historic Arkansas Riverwalk of Pueblo (HARP), a charming destination featuring restaurants, shops, and entertainment options along the Arkansas River and providing a perfect setting for a leisurely stroll. Nature enthusiasts can explore the scenic Lake Pueblo State Park, a haven for outdoor activities such as hiking, boating, and fishing, surrounded by the picturesque backdrop of the Rocky Mountains. History comes to life at the El Pueblo History Museum, where visitors can learn about the region's past and its significance in Colorado's history. The Pueblo's flourishing arts scene is evident in the Sangre de Cristo Arts Center, an artistic hub hosting galleries, theaters, and educational programs. For sports enthusiasts, catching a game at the Colorado State University-Pueblo Thunder Wolves stadium or enjoying the beautiful Pueblo Motorsports Park can be exciting experiences. Pueblo is currently witnessing a massive project with CS Wind, involving the construction of wind turbines, a venture expected to span three to five years and contribute significantly to the area's renewable energy sector. Pueblo's commitment to healthcare is evident through its numerous hospitals and medical plazas, ensuring the well-being of its residents. With its dynamic events, major projects, and a focus on healthcare, Pueblo stands as a thriving community in the heart of Colorado.
In 2023, the select-service, dual branded Hotel's room revenue exceeded $1.8 million and a net operating income just over $458 thousand, or 24.3 percent as a percentage of total revenues, after a 4 percent capital replacement reserve. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR through better revenue management, not only benefiting from increased market share but also higher NOI flow-through.