BEST WESTERN PLUS

INVESTMENT OVERVIEW

Hunter | Havericak | Altman Hotel Group has been exclusively retained to offer for sale the fee of simple interest in the 83-room Best Western Plus located in Palm Beach Gardens, Florida, an affluent city between West Palm Beach and Jupiter in the heart of Palm Beach County. The hotel is a 4-story property built in 1990 located east of US Highway 1, steps from the Intracoastal Waterway, and less than a 1.5-mile drive from the Atlantic Ocean. Best Western Plus Palm Beach Gardens Hotel & Suites & Conference Center provides the opportunity for a new owner to acquire a hotel in an impeccable location with the potential to convert to Fairfield Inn by Marriott. A new owner can realize significant RevPAR growth through the completion of the Best Western Plus PIP, or conversion with the corresponding renovation to be a Fairfield Inn by Marriott and future utilization of the Marriott name, reservation system, and loyal base of guests.

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INVESTMENT HIGHLIGHTS

• PIP for Conversion to Fairfield Inn by Marriott Ordered
• Within Walking Distance of the Atlantic Ocean
• +/- $578,500 Median Home Sale Price in Palm Beach Gardens 2021 (U.S. Median +/- $436,700)
• +/- $138,000 Average Household Income in Palm Beach Gardens 2021 (U.S. Average +/- $97,000)
• +/- 21.9% MSA Growth 2000-2020
• Historical ADR Well-Below Competitive Set, Indicating Upside
• Proximate to Demand Drivers: NextEra Energy, Downtown Palm Beach Gardens, Rodger Dean Stadium, Palm Beach Gardens Medical Center, West Palm Beach VA Medical Center, Dycom Industries, and More