Quality Inn Cambridge

Highlights:

• Situated on 9.8 Acre Lot
• Priced at $26k/Key
• Absentee Managed with ADR Penetration Index of 79% | Occupancy Penetration Indices of 92% and 122% (2022 & 2023 respectively)
• Upside for Owner-Operator who can Enact Aggressive Sales & Rate Management Strategy
• Includes Banquet Meeting Space, providing additional Revenue Stream
• Partial PIP Completed - Solar Panels Paid off, which decreases Utility Costs

Description:

NewGen Advisory is pleased to present to qualified investors the Quality Inn located in Cambridge, Ohio. The subject property is a two-story, exterior corridor, five-building property, built in 1973 and sits on a 9.8 acre parcel. The asset is a limited-service hotel with frontage on Southgate Parkway (22,125 Vehicles Per Day) and is located off Interstate-70 (41,598 Vehicles Per Day). The property is offered with fee simple interest, unencumbered by debt and unencumbered by third-party management.

The hotel consists of 95 rooms and benefits from a variety of stable demand generators including tourism/leisure, medical, higher education, transient and commerce. Key tourism and leisure demand generators In the area include: Salt Fork State Park, a 17,000-acre state park, Seneca Lake Park, and The Wilds, a 10,000-acre nature conservation center. Cambridge is also home to the annual Dickens Victorian Village event, attracting visitors during the holiday season. Key medical generators include the Southeastern Ohio Regional Medical Center. Key higher education demand generators include the Ohio University Eastern Campus at St. Clairsville. Key transient demand generators include the hotel’s position along I-70, as well as the proximity to the John Glenn Columbus International Airport, approximately 80 miles west of Cambridge. Key business demand generators in Cambridge include Colgate-Palmolive Company, Southeastern Equipment Company, Morgan Advanced Materials, Plaskolite, Eclipse Resources, Zekelman Industries, and a variety of oil and gas-related energy companies related to the Utica and Marcellus shale industry.

Immediate upside is evident to prospective purchasers in the STR report, which is comprised of Days Inn Cambridge, Baymont by Wyndham Cambridge, Comfort Inn Cambridge and Best Western Cambridge. While the hotel has consistently outperformed the competitive set in occupancy with occupancy penetration indices of 92% and 122% in the 2022 and 2023 respectively, the hotel has lagged the competitive set in ADR, achieving ADR penetration indices of just 82% and 79% in 2022 and 2023 respectively. This ADR penetration signals potential revenue growth upside for a hands-on operator who can employ rate management strategies to bring room rates further in line with the competitive set. Upon the completion of a change-in ownership PIP, an operator will be able to increase the ADR, and therefore increase returns.

Located in the heart of Cambridge, Ohio, this area offers a perfect blend of business and leisure amenities. Quality Inn is proximity to popular attractions such as the National Museum of Cambridge Glass and the historic Hopalong Cassidy Museum. With easy access to I-70 and I-77, guests can explore the picturesque landscapes of Salt Fork State Park and Seneca Lake. Experience the local dining scene, unique boutiques, and rich cultural heritage, making it an ideal destination for both business and leisure travelers. This prime location is a promising investment opportunity for hospitality or limited service investors seeking a dynamic and growing market.