Hampton Inn Franklin
72 Room Hotel | Franklin, KY 42134 | $5,300,000 ($73,611/Room) | 9.76% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,300,000
- Property Type
-
Hospitality
- Square Feet
- 28,000 SF
Listing Contacts
Subhash Naik
Verified Profile
Shivani Naik
Verified Profile
- Property Info
Property Overview
The Hampton Inn is located in Franklin, Kentucky, is ONLY 45 miles south of Nashville. Nashville is a top five US markets, with some of the highest influxes of business, ADR’s, and price per key.
*
*
Highlights & Location:
*$100 Plus ADR Market: Hampton Inn Franklin's ADR is $130.74, significantly higher than the submarket's $106.08.
*Competitive RevPAR: Despite a decrease, RevPAR at $68.06 outperforms the submarket's $62.59.
*Stable Supply: The hotel maintains a stable room supply, ensuring consistent availability. The market has a mix of both economy and mid-scale hotels but is not oversaturated.
*Strong Pricing Strategy: Hilton consistently achieves a higher ADR than its competitors, indicating robust pricing power.
*Revenue Potential: Focus on improving occupancy can leverage the strong ADR to boost overall revenue performance.
*Direct Proximity to the Kentucky Downs Races where over 10,000 enthusiastic fans come to the city of Franklin to place their bets on horse racing, casinos, concerts, and dining.
*Strong Visibility off of Interstate - 25 consistently attracts transient visitors driving to and from Kentucky and Tenessee.
*
*
Corporate Demand Generators:
*Nashville, Tennessee: Approximately 45 miles south of Franklin, Nashville is the closest major city, known for its vibrant music scene, cultural attractions, and economic opportunities.
*Bowling Green, Kentucky: Located about 25 miles northeast of Franklin, Bowling Green is home to Western Kentucky University and the General Motors Corvette Assembly Plant, providing educational and employment opportunities.
*Louisville, Kentucky: Approximately 130 miles northeast of Franklin, Louisville is the largest city in Kentucky, offering a diverse range of cultural, recreational, and economic activities (South Central KY).
*
*
Rebranding Potential:
The Hampton Inn Franklin, KY will remain a Hampton for one additional year, potentially two. The proposed plan is to rebrand the older Hampton prototype to a Spark by Hilton. The PIP details for the conversion are in the due diligence vault. As a Spark by Hilton, the hotel will still carry the Hilton name and benefit from the Hilton reservation system with a fresh look. The market has a true mixture of mid-scale and economy hotels, and all hotels generate a powerful ADR. We are conservatively projecting for the Spark to do approximately $1.6M-$1.7M in revenue.
*
*
Highlights & Location:
*$100 Plus ADR Market: Hampton Inn Franklin's ADR is $130.74, significantly higher than the submarket's $106.08.
*Competitive RevPAR: Despite a decrease, RevPAR at $68.06 outperforms the submarket's $62.59.
*Stable Supply: The hotel maintains a stable room supply, ensuring consistent availability. The market has a mix of both economy and mid-scale hotels but is not oversaturated.
*Strong Pricing Strategy: Hilton consistently achieves a higher ADR than its competitors, indicating robust pricing power.
*Revenue Potential: Focus on improving occupancy can leverage the strong ADR to boost overall revenue performance.
*Direct Proximity to the Kentucky Downs Races where over 10,000 enthusiastic fans come to the city of Franklin to place their bets on horse racing, casinos, concerts, and dining.
*Strong Visibility off of Interstate - 25 consistently attracts transient visitors driving to and from Kentucky and Tenessee.
*
*
Corporate Demand Generators:
*Nashville, Tennessee: Approximately 45 miles south of Franklin, Nashville is the closest major city, known for its vibrant music scene, cultural attractions, and economic opportunities.
*Bowling Green, Kentucky: Located about 25 miles northeast of Franklin, Bowling Green is home to Western Kentucky University and the General Motors Corvette Assembly Plant, providing educational and employment opportunities.
*Louisville, Kentucky: Approximately 130 miles northeast of Franklin, Louisville is the largest city in Kentucky, offering a diverse range of cultural, recreational, and economic activities (South Central KY).
*
*
Rebranding Potential:
The Hampton Inn Franklin, KY will remain a Hampton for one additional year, potentially two. The proposed plan is to rebrand the older Hampton prototype to a Spark by Hilton. The PIP details for the conversion are in the due diligence vault. As a Spark by Hilton, the hotel will still carry the Hilton name and benefit from the Hilton reservation system with a fresh look. The market has a true mixture of mid-scale and economy hotels, and all hotels generate a powerful ADR. We are conservatively projecting for the Spark to do approximately $1.6M-$1.7M in revenue.
Property Details
- Class
- B
- Year Built
- 1997
- Stories
- 3
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 100,188 SF
- Units
- 72
Highlights
- 3.67 X REV
- High Demand Area
- Stable Supply | Steady ADR
- High-demand area with proximity to Kentucky Downs Horse Races and 45 Miles from Nashville Tennessee
- Spark Conversion Opportunity in 2 Years
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].