1717 Airport Exchange Blvd - Hospitality FOR SALE
Erlanger, KY 41018 |
1717 Airport Exchange Blvd
Erlanger, KY 41018
HIGHLIGHTS
- The Holiday Inn Cincinnati Airport is a group-oriented hotel with over $3M in capital expenditures.
- Recent hotel renovations allow the buyer to drive the RevPAR index from 62% to over 90%.
- 1717 Airport Exchange presents an excellent opportunity to capture business from airline crews.
- IHG Hotels & Resorts and the seller are negotiating a revised PIP with a phased room renovation option, facilitating an initial lower room count.
- The running 28 days ended June 24th 2023 recorded Market RevPAR of nearly $109! The Holiday Inn yielded a $76 RevPAR for a 70% index.
- The property generated occupancy for this period of 81.5% at a $93 ADR. The Market was 80% at $136.
FOR SALE DETAILS
PRICE
-
# OF ROOMS
-
CAP RATE
-
BUILDING DETAILS
PROPERTY NAME
Holiday Inn Cincinnati Airport
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
1132632
STORIES
6
ROOM ENTRANCE
Interior
BUILDING CLASS
B
YEAR BUILT
1990
PARKING SPACES
441
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
CM
APN/PARCEL ID
070.00-01-012.00
