Basics
- Date added: Added 11 months ago
- Category: Hotel
- Status: For Sale
- Guestrooms: 69
- Bedrooms: 69
- Bathrooms: 72
- Half baths: 2
- Total rooms: 80
- Meeting space sq ft: 500
- Floors: 4
- Year built: 2016
- Year remodeled: 2023
- Price per sq ft: $198.09
- Price Per Key: $134,057
- Cap rate: 10.28%
- NOI: $1,023,917
- Occupancy: 73.13%
Description
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Description:
The Best Western Plus in Lake Charles, LA, stands out as a lucrative opportunity with higher-than-average revenue, profitability, and promising investment potential. Highlights & Location: 69 well-appointed rooms, this upper midscale hotel boasts a prime location and a host of impressive features that make it an attractive destination. 2022 statistics reveal a higher-than-average occupancy rate, a significantly elevated Average Daily Rate (ADR), and an impressive Net Operating Income (NOI), reinforcing its reputation as a financially sound investment. This property was completely renovated in 2020 and has the benefit of an automatic franchise transfer, saving a new buyer a typical transfer fee of $26,000. The hotel has an occupancy rate of 72.40%, which is competitive within the industry. Its Average Daily Rate (ADR) of $119.86 significantly surpasses the competitive set of $80.41. This higher ADR signifies the hotel's ability to charge a premium price per room per night, which contributes to its strong financial performance. The hotel's RevPAR is equally impressive, standing at $86.95 in 2023, well above the national average of $58.27. Investment Highlights Priced at $9,250,000 Completely Renovated in 2020 Impressive NOI, RevPAR and Occupancy Automatic Franchise Transfer
Location
- Neighborhoods: City center
Building Details
- Cooling features: PTAC
- Heating features: PTAC
- Floor covering: Carpet, Concrete, Hard wood, Laminate, Linoleum/vinyl, Slate, Softwood, Tile
- Basement: Partially finished
- Exterior material: Brick, Stone, Wood
- Roof: Asphalt
- Parking: Carport, Garage - attached, Garage - detached, Off-street, On-street, Parking lot
Amenities & Features
- Amenities:
- Features: