Overview

Description

Tabani Realty is pleased to present the La Quinta Inn by Wyndham in Wichita Falls, Texas. The limited-service hotel has 139 guestrooms and is listed at $31,654 per key. The La Quinta in Wichita Falls is a mismanaged property with the potential to cut costs and increase NOI. The property offers 139 guestrooms with interior corridors which were renovated in 2014. The building has an overall living space of 49,996 SF across two floors. The La Quinta Inn sits on 2.98 acres of land which is also included in the sale.

The La Quinta Inn by Wyndham in Wichita Falls Event Center North sits directly on I-44, close to the heart of Wichita Falls. This location experiences high volumes of pass-through traffic due to both the major throughway and the large Wichita Falls Sports Complex.


Wichita Falls is strategically located near the border of Texas and Oklahoma, making it a crossroads for travelers. It serves as a gateway to various destinations in both states, attracting visitors passing through or looking to explore the region. Wichita Falls is well-connected in terms of transportation. It is served by the Wichita Falls Regional Airport, which offers commercial flights and is also accessible via major highways, including Interstate 44 and U.S. Route 287. This accessibility makes it convenient for travelers, increasing the demand for hotel accommodations.

Wichita Falls is home to Sheppard Air Force Base, a major training facility for the United States Air Force. The presence of the base brings a significant number of military personnel, their families, and visitors to the area, creating a consistent demand for hotel rooms. Wichita Falls has a diverse economy with industries such as healthcare, education, manufacturing, and agriculture. The city is also a regional center for retail and services, attracting business travelers and corporate events. Wichita Falls offers a range of attractions and events that draw visitors to the area. The city is known for its natural beauty, including the scenic Wichita Mountains and the nearby Lake Wichita. Additionally, Wichita Falls hosts various festivals, sporting events, and cultural activities throughout the year, which can generate tourism and increase the demand for hotel rooms.

Highlights

• ADR & RevPAR lower than comps, scope for improvement for new ownership.
• Offered at $31,654 per key.
• Offered at 7.5% Cap Rate.
• Mismanaged property, absentee operator, potential to cut costs and increase NOI and Revenue.
• Sits directly on I-44 with high visibility.
• Close to Wichita Falls Sports Complex.
• Can be converted to other Wyndham Family brands.

Documents

---