The Shilo Inn Suites Hotel Newport is an upper midscale hotel featuring 179 spacious guest rooms and several amenities such as an indoor pool, laundry service, and business center. The Property is a four-story interior corridor hotel located in Newport, Oregon. The Property is visible from U.S Route 101 and located nearby some of Newport’s primary demand generators, including Historic Nye Beach, Yaquina Bay Bridge, Yaquina Head Lighthouse, Hatfield Marine Science Center, and Oregon Coast Aquarium.
The subject property has achieved an average total room revenue of over $2.6 M, and once stabilized, is expected to become a top performer. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR, not only benefiting from increased market share but also higher NOI flow-through. Although the Property is in good condition, an impending renovation would present a significant value-add opportunity, further positioning the hotel as the submarket leader. The Property is Fee Simple Real Estate and clear of existing management and financing contracts.
BROKER OF RECORD
David Tabata
Oregon
P: (503) 200-2000
Lic #: 201224889
Firm Lic #: 200709023