HREC Investment Advisors Arranges Sale of Baymont Inn & Suites-Metropolis, IL
Friday February 7th, 2014 - 9:43AM EF
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DENVER/CHICAGO—HREC Investment Advisors has arranged the sale of the 102-guestroom Baymont Inn & Suites in Metropolis, IL. The sale took place in Q4 2013.
Ted Anka, VP in HREC Investment Advisors' Chicago office exclusively represented the seller during the transaction.
The Baymont Inn & Suites is located on Front Street, which runs parallel with the Ohio River, allowing for views of the water. Major demand generators include Fort Massac State Park, Harrah's Metropolis Riverboat Casino and downtown Metropolis.
"The Baymont Metropolis represents significant upside for this IL-based group; priced well below replacement, the buyers have the opportunity to reinvest capital and bring the hotel back up to current Baymont standards as well as implement a hands-on operating approach focused locally on sales growth, which will result in improvements in ADR, occupancy and, ultimately, cash flow," said Anka.
Tags: HREC Investment Advisors • Baymont Inn Suites • Metropolis • Hospitality • Acquisitions • Brokers •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.