for sale
Quality Inn
1945 Southgate Pkwy | Cambridge, OH 43725
Investment Highlights
- Priced at $23/key
- Absentee Managed
- Dec 2024 YTD ADR Penetration Index of 72.8%
- Dec 2024 YTD Occupancy Penetration Index of 66.4%
- Upside for owner-operator who can enact aggressive sales and rate management strategy
- Asset includes banquet meeting space for added revenue stream
- Partial PIP completed
- Solar panels are paid off – decreasing utility costs
Property Description
NewGen Advisory is pleased to present for sale the Quality Inn – Cambridge, OH. The 95 room subject property is a two-story, exterior corridor, five-building property that was built in 1973 and is situated on a 9.8 acre parcel. The limited service hotel has a partial PIP completed and includes paid off solar panels. The property is offered with fee simple interest, unencumbered by debt and unencumbered by third-party management.
The Quality Inn – Cambridge, OH sits on the frontage of Southgate Parkway, which sees 22,125 vehicles per day, and is located off Interstate-70 which sees 41,598 vehicles per day. The hotel benefits from a variety of stable demand generators including tourism/leisure, medical, higher education, transient and commerce.
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 index 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.
The 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.
Location Description
Located in the heart of Cambridge, Ohio, the area offers a perfect blend of business and leisure amenities. Key attractions include Salt Fork State Park, Seneca Lake Park, The Wilds Conservation Center, and the annual Dickens Victorian Village event during the holiday season. Cambridge is also home to key business demand generators such as Colgate-Palmolive Company, Southeastern Equipment Company, and various oil and gas-related energy companies linked to the Utica and Marcellus shale industry.
The Southeastern Ohio Regional Medical Center and Ohio University Eastern Campus further contribute to the area’s economic vibrancy. With easy access to I-70 and I-77, and just 80 miles from John Glenn Columbus International Airport, this location is an ideal investment opportunity for hospitality investors seeking a dynamic market.
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Click the “Complete Confidentiality Agreement” button below to access the due diligence files. After you submit the CA form, you will receive an automated email with links to the due diligence files and offering memorandum.
Jigar “Jay” Desai
Senior Vice President
AZ #SA675144000
(520) 664-4091
jigar.desai@newgenadv.com
BROKER OF RECORD
Thomas D’Amico
D’Amico Agency Inc.
OH #BRKP.0000177678