With Times Commercial Realty Pennsylvania full service hotel for sale |
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Hotel properties with such a high CAP on actual basis are hard to find. No franchise hassle. Could be branded but no need as the property itself is performing. Increasing revenues and CAP rate with very consistent performance. This Pennsylvania hotel is the only full service hotel in its market with an on- site restaurant and meeting space. This hotel is full service, interior corridor hotel with banquet rooms and lounge. The hotel and convention center building that contains 43,288 square feet of gross building are and 265 rooms, a formal restaurant and adjacent lounge, and indoor swimming pool with whirlpool and sauna, a main hotel lobby, executive business center, hotel laundry, guest laundry, game room and a board room for guests. Food and beverage service is provided with 85 seats and lounge. A popular 22,000 square foot of flexible meeting space and extensive meeting amenities, Hotel Convention Center is a premier destination for meetings and corporate events in the Area. Convention Center offers three elegant ballrooms and catering services ideal for wedding receptions and other special occasions. Guest Amenities: |
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The said hotel in Pennsylvania is located right off the major Pennsylvania artery. The hotel is a full service establishment with 264 rooms with 25 acres of land. The revenues for the last three years and Trailing 12 with the Net Operating Incomes are as under :
| Trailing 12 | Proforma | Proforma | |||
| 2006 Actual | 2007 Actual | Oct 2008 | Year 1 | Year 2 | |
| No. of Units | 267 | 267 | 265 | 265 | 265 |
| Occupancy | 40.99 | 40.04 | 47.10 | 53.88 | 61.02 |
| ADR | 62.13 | 63.40 | 61.16 | 63.25 | 64.16 |
| Room Rev | 2,482,055 | 2,491,165 | 2,814,668 | 3,296,135 | 3,786,550 |
| Food & Bev | 1,451,698 | 1,640,533 | 1,486,591 | 1,668,360 | 1,866,590 |
| Other Rev | 48,007 | 48,502 | 39,666 | 55,775 | 68,740 |
| Total Rev | 3,981,760 | 4,180,200 | 4,340,925 | 5,020,270 | 5,721,880 |
| Total Rev Per Room | 14,913 | 15,656 | 16,381 | 18,944 | 21,592 |
| NOI | $ 807,626 | $ 1,013,530 | $ 1,072,354 | $1,365,880 | $ 1,596,650 |
| CAP | 9.84 | 12.36 | 13.07 | 16.64 | 19.47 |
| Net Operating Income Margin | 20.3% | 24.2% | 24.7% | 27.2% | 27.9% |