As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Days Inn by Wyndham Grand Junction (‘Hotel’ or ‘Property’). The Wyndham Hotels & Resorts-branded Hotel is offered at $4,990,000 or $62,375 per key.
The Days Inn Grand Junction is a two-story, 80-room hotel stationed at 708 Horizon Drive, Grand Junction, Colorado, just off I-70. The Hotel maintains several common area amenities including an outdoor pool, business center, breakfast area, guest laundry facility and ample parking for cars, trucks, and recreational vehicles. The Property also offers a free airport shuttle for guests.
The city of Grand Junction, Colorado, is in Mesa County, approximately 250 miles west-southwest of Denver, Colorado. The local economy is a strong leisure market, supported by prominent industries, including health care, education, tourism, agriculture, livestock, and energy mining. St. Mary’s Hospital and Colorado Mesa University, two of the city’s largest employers located within a radius of two miles from the Hotel, are prime revenue drivers for the surrounding area. Other notable demand generators include the Grand Junction Regional Airport (1.5 miles), Avalon Theatre (3.5 miles), The Escape House (2.7 miles), Museum of Western Colorado (3.6 miles), and Bananas Fun Park (4.6 miles).
In the trailing twelve-month period ending in December 2023, the limited-service Hotel recorded room revenues of over $1.46 million and an EBITDA less replacement reserves of just over $531 thousand. That amounts to 31.1 percent of total revenues after a 4 percent capital replacement reserve. As of February, twelve-month average RevPAR in the Colorado Northwest Area hotel submarket was climbing at an annual rate of 2.7 percent. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR through better revenue management. As a result, they will also benefit from increased market share and higher NOI flow-through.