Friday February 7th, 2014 - 9:43AM
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.