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Hilco Real Estate Gears Up for the Sales of Three Individual Turnkey Hotels and a Portfolio of 16 Operating Hotels

Feb 14, 2020

Three Turnkey Hotels

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. 

<gu-sc>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 <gu-sc-dial data-dn="8474182702" title="Click to dial 8474182702"><gu-sc-img></gu-sc-img>847.418.2702</gu-sc-dial> or James Keith at <gu-sc-dial data-dn="2703041020" title="Click to dial 2703041020"><gu-sc-img></gu-sc-img>270.304.1020</gu-sc-dial>. 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 cevans@hilcoglobal.com. <gu-sc-orig style="display: none;">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 cevans@hilcoglobal.com. </gu-sc-orig></gu-sc>

<gu-sc>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 <gu-sc-dial data-dn="8557552300" title="Click to dial 8557552300"><gu-sc-img></gu-sc-img>(855) 755-2300</gu-sc-dial>. <gu-sc-orig style="display: none;">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. </gu-sc-orig></gu-sc>

 

For media-related inquiries about Hilco Real Estate or the Hilco Global group of companies, contact Gary Epstein at 847.418.2712 or gepstein@hilcoglobal.com.

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