HOLIDAY INN EXPRESS BOONE

INVESTMENT OVERVIEW

Hunter Havericak Hotel Group and Davis Dewese Messinger Group of Marcus & Millichap have been exclusively retained to offer for sale the fee simple interest in the 129-room Holiday Inn Express located in Boone, North Carolina, in the heart of the Blue Ridge Mountains. The hotel is a five-story property built in 2001 that just underwent a PIP renovation that cost in excess of $3mm. A new owner will have the opportunity to capitalize on the recent renovation by driving the hotel's ADR, which has historically been +/- $26 below the competitive set. Holiday Inn Express Boone provides the opportunity to acquire a core-branded IHG hotel with significant upside in a vibrant college town with diverse business drivers near the most visited National Park in the United States, Blue Ridge Parkway (16.7 million+ visitors in 2023).

INVESTMENT HIGHLIGHTS

• ADR Pre-Renovation $26 +/- Below the Competitive Set (2022)
• Comprehensive Recent Renovation Just Completed
• Three-Year Positive RevPAR Trend in the STR Competitive Set
• Approximately One Mile to Appalachian State University
• Located Near Blue Ridge Parkway, Historically the Most Visited National Park in the Country with over 16.7mm Annual Visitors
• Proximate to Grandfather Mountain, Tweetsie Railroad, Watauga Medical Center, Samaritan's Purse, and More