Best Western Club House Inn & Suites - Mineral Wells, TX
About This Property
- 50 Units
- Located 1 Hour West of Dallas Fort Worth
- Eligible for Best Western Auto-Transfer (No Transfer PIP)
- Trailing Twelve Month Room Revenue: $1,322,001 through July 2022
- Asking 3.25x Revenue
- Existing Lender Willing to Finance at 15% Down Payment for Qualified Buyer
- 3 Bedroom 2 Bathroom Manager's Apartment On-Site
The Best Western Club House Inn & Suites in Mineral Wells, TX is a 50-unit, two story interior corridor hotel located in 1 hour west of Dallas Forth Worth in Texas.
The hotel is performing extremely well with trailing twelve month revenue through July 2022 at $1,322,001 ($26,440/key) making the asking price 3.25x revenue. There is a 3 bedroom, 2 bathroom manager's quarters which makes it a perfect owner-operator opportunity nearby to one of the most sought-after markets in the country in DFW.
The hotel recently completed its PIP in 2020 and is eligible for auto-transfer (no transfer PIP) for a Best Western membership. Since completing the PIP, the Owner has been able to raise rates while occupancy has remained steady, at above 80% occupancy since 2018 and in prior years too. It is a highly profitable hotel with a cap rate of 11.4% based on 2021's revenue of $1,184,825, and 2022 is on pace for at least $1,350,000.
The hotel has had the same ownership since it was built in 2001 and has ample Truck/RV parking and oversized guest rooms. There is a diverse mix of revenue generators including year-round weddings, golf and other leisure including Holiday Hills Country Club, Clark Gardens Botanical Park, the Vietnam War Memorial, Mineral Wells State Park, private baseball fields with year-round competitions, 2 powerplants, and other employers including Cantex, Centron, Hydroscience, NOV Technologies, and Peco Facet. The hotel is within walking distance to Brazos River Factory Stores .
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.
By checking the below box and viewing this property, you agree that:
- 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.