New Candlewood Suites Laredo TX For Sale

Business description

New Candlewood Suites available in Laredo, TX. This is a great opportunity to own one of the best extended stay flags available! The reservation system through IHG is outstanding, and most Candlewoods in Texas are performing well over the state averages. The hotel has everything a traveler needs; from fully furnished kitchens with refrigerators, stoves, and microwaves, to guest laundry rooms. This hotel is the typical Candlewood prototype, 83 rooms on 3 stories. Projected gross revenue in year 3 is $3.1MM with a net income after debt service of $638,000. There are very few markets still available for major flags throughout Texas, so this will not last long. Call Toby Tucker, NWH Management

Property information

Real Estate:

Real Property Included

Location:

2 acre, prime location in Laredo. 83 fully furnished extended stay suites, 3 stories, 81,000 square feet.

Other information

Competition / Market:

Very few extended stay products in Laredo, and none on the south side. Other new hotels in the area are performing well over 70% occupancy.

Support & training:

Training and ongoing support provided by the franchisor. Year Established: 2008

Financing available:

Some financing available for a qualified buyer.

Furniture / Fixtures value:

$1,500,000 (included in the asking price)