NORTHBROOK, Ill., Feb. 11, 2020 /PRNewswire/ -- As one of the industry's most accomplished authorities on real estate dispositions, including the sale of full-service and limited-service hotels, Hilco Real Estate, LLC is pleased to announce upcoming deadlines for the sales of three turnkey hotel properties, as well as a sizeable portfolio of 16 separate hotels throughout the Rocky Mountain area.
February 13 is the offer deadline for the 87-room Super 8 Hotel in Kinder, Louisiana. It was originally built in 1999 and recently renovated in 2014 with common amenities such as a business center, conference facility, and shuttle service. Conveniently situated on Highway 165, the property is located just over five miles from the Grand Coushatta Casino, the largest casino resort in Louisiana. Offers for the hotel begin at $1 million dollars.
With an offer deadline of February 21, the 119-room Badlands Inn & Suites is located in Dickinson, North Dakota. It includes a wide variety of amenities, such as a fitness center, business center, conference facility, bar/lounge area, guest laundry, and ample on-site parking. Conveniently situated just off Highway 22 and I-94, the property is in the hub of the area's local attractions. Within walking distance is the Dickinson Dinosaur Museum, and a short 1.5 miles southwest is Dickinson State University and the Ukrainian Cultural Institute. The property is approved for OYO flag with PIP capital available. It could also be an excellent redevelopment opportunity for multifamily, retail, or mixed-use.
The 75-room Red Roof Inn in Somerset, Kentucky, a popular tourist destination, has an offer deadline of March 12 and is conveniently located on South Highway 27. The building was recently renovated in 2016 and includes amenities such as an outdoor pool, a meeting facility, and available parking for buses and trucks. The asking price for this property is currently $1.95 million, and the gross room revenue of 2019 totaled $710,298.
James Keith, Hilco Real Estate Managing Director, states, "The sale deadlines for these hotels are coming up quickly, and we've been getting an astounding amount of interest in all three." Keith continued, "Selling these three separate turnkey hotels, along with the 16-hotel portfolio, is a great opportunity for Hilco to show our capabilities in this industry.
Also available through a portfolio sale are 16 hotels located all throughout Utah, Colorado and Montana. With a total of 987 rooms, all hotels are operating and have a strong net operating income (NOI). The total trailing 12-month revenue amounts to $18,137,310.
Featured in this portfolio is the 118-room Days Inn & Suites in Kanab, Utah. It has a trailing 12-month revenue of $1,993,551 and a solid NOI of $993,295. Another hotel that stands out amongst this portfolio is the 43-room Pioneer Lodge in Springdale, Utah with a trailing 12-month revenue of $1,717,826 and NOI of $934,715. The historic lodge includes a designated barbeque area, kitchen space, and a cozy outdoor theme throughout the property. Both featured hotels, as well as the others within the portfolio, offer beautiful views of Red Rock Mountain landscapes.
Bids must be delivered to the offices of Hilco Real Estate on or before 5:00 p.m. (CT) on the day of the deadline to be considered. For more information regarding the sale process, please contact Chet Evans at 847.418.2702 or James Keith at 270.304.1020. Interested buyers can submit their bids via mail to the following address: Hilco Real Estate, 5 Revere Drive, Suite 320, Northbrook, IL 60062, or via email to [email protected].
For further information on the property, an explanation of the sale process, sale terms or to obtain access to property due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.
About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.
Office: (847) 418-2712
Mobile: (847) 323-4943
Email: [email protected]
SOURCE Hilco Real Estate