Baymont - Lake Park, GA
About This Property
- 75 Units
- Interior Corridor Hotel
- Recently Fully Renovated, Re-Opened in March of 2022
- Projected Revenue in 2023: $1,700,000
- Trailing Twelve Month Revenue Since Opening in March 2022: $974,000 and Increasing
- Excellent Location on Interstate 75 in Southern Georgia
The Baymont in Lake Park, GA is a 75-unit, interior corridor hotel located in Southern Georgia on Interstate 75. Located just North of the border of Florida, the hotel is positioned well and has been fully renovated in the last couple of years.
As shown by the competitive set in the December 2022 STR report, occupancy for the hotel is still increasing since opening in March 2022. The comp set has a REVPar Index for the trailing 12 months at 49.33.
The hotel was fully renovated and re-opened in March 2022, seeing steadily increasing revenues since then. One exception was during the month of August 2022 when the franchise reservations system was accidentally turned off for 2 weeks impacting revenues. A summary of renovations is as follows: New Metal Roof, New Showers/tubs, New floors everywhere: tiles, carpet tiles, New furniture in guests rooms/lobby/breakfast area, New linens, 84 new mattresses, 40 or more new TV's, New fridges, New microwaves (most rooms), Around 50 new AC's, Two new Lobby ACs, All new modern window treatments with 2 layers, State-of-the-art new guest washer and dryer, New washer and dryer for hotel laundry, Inside / outside repairs and painting, Parking lot resealed, Swimming pool totally renovated with new pump, New lounges/chairs/tables/umbrellas, New fence around the pool, Side exit doors, New fitness room, 4 guestrooms with hard floors for service dogs, New Meeting room, All new LED lights throughout entire hotel (hallways, headboards, bathrooms, above sink, lobby, all guestrooms), All new fans with light in bathrooms, All new bathroom doors to all guestrooms, Built new marketplace with beverage fridge and shelves, Built new breakfast area with new furniture, Built new kitchen, and Built new public bathroom.
Surrounded by dining options and 11 miles from Valdosta Regional Airport (VLD), the hotel is minutes from Wild Adventures, a 166-acre theme and water park with newly expanded zoo, Grassy Pond recreation area, Valdosta Mall, Francis Lake Golf Club, and Valdosta State University. Other demand generators include Dillard’s Distribution Center and Lowe’s® Distribution Center, as well as Rainwater Conference Center .
This agreement (“Agreement”) is between Amber Hotel Company (“Amber”) and the undersigned party (“Buyer”) who is interested in buying investment real estate.
The investment real estate is exclusively listed for sale with Amber. Amber shall provide Buyer with related confidential information, subject to the terms and conditions of this Agreement.
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- The related confidential information is provided for the sole purpose of having a Buyer evaluate the purchase of the property for itself or its affiliates. Buyer and its affiliates shall keep the related information confidential, and not reproduce, distribute or disclose such information to third parties, except to the extent third party consultants, lenders, or other agents of Buyer are required, in which case such third parties will be held to the same confidentiality standards as Buyer. Amber shall not be responsible for the accuracy or completeness of the information provided, or for any loss or expense, whether direct or indirect, arising from Buyer’s or Buyer’s affiliate’s use and reliance on the information.
- The undersigned principal or any company or entity in which the undersigned principal has controlling interest, including real estate brokerage companies, shall not be paid any form of commission or fee by the owner of the property for the purchase of the property.
- All offers and purchase agreements for the property from Buyer or its affiliates shall be submitted through Amber. Buyer shall not contact the owner of the property directly or act either directly, indirectly, through any third parties including affiliates, clients or other brokers to circumvent the purpose of this Agreement. Amber may solicit, represent and accept offers for the property from other potential buyers without obligation to this Buyer. Buyer acknowledges that real estate brokers are not qualified as experts for legal, financial, accounting, environmental, construction, soils, geological or engineering advice.
This property information, market information, and other information on this page as well as any related documents have been provided by the seller or other outside sources. Interested parties are highly encouraged to verify the information independently. Amber has not independently verified any information.