The Grand Savannah Hotel
40 Room Hotel | Savannah, GA 31419 | $4,950,000 ($123,750/Room)
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
Asking Price $4,950,000
- Property Type
-
Hospitality
- Square Feet
- 31,500 SF
Listing Contacts
Dennis Hopper CCIM
Verified Profile
Dylan Amin
Verified Profile
- Property Info
Property Overview
OFFERING OVERVIEW
DSH Hotel Advisors has been retained as the exclusive broker to market for sale The Grand Savannah Hotel, located in Savannah, Georgia. The hotel is undergoing final renovations before being added to the Choice Hotels system (Q3 2024). The property is situated near multiple diverse demand generators and in a high growth market.
PROPERTY OVERVIEW
The Grand Savannah Hotel was built in 2006, fully renovated in 2024, and remains in excellent condition. Current ownership estimates that the change of ownership PIP would be approximately $25,000+/-; however, that is only an estimate and would need to be verified by Choice Hotels via an issued change of ownership PIP. Since January 2024, the property has undergone extensive renovations including but not limited to the following:
• New Roof (with warranty)
• New Paint - Interior & Exterior
• All New Mattresses
• New Case Goods
• New FFE
MARKET OVERVIEW
The property located in Savannah, Georgia, is situated near multiple diverse demand generators and in a high growth market. Guest types may include leisure and business travelers, travelers on I-95, healthcare professionals, travel nurses, construction workers, Savannah State University students and their families, tourists as well as group business which can include sports teams, family reunions, wedding parties and more. This offering presents a unique opportunity for an investor to acquire a Choice hotel in the highly desirable Savannah market.
SAVANNAH, GEORGIA
Savannah, Georgia, is a vibrant city known for its rich history, stunning architecture, and picturesque squares. Major demand generators include its thriving tourism industry, significant port operations, and a growing film industry. The city attracts over 14 million visitors annually, drawn by its well-preserved historical district, numerous parks, and vibrant cultural scene. Key attractions include the historic Forsyth Park, the bustling River Street, the Savannah Historic District, and the Bonaventure Cemetery. Additionally, events such as the Savannah Music Festival and the St. Patrick’s Day Parade further bolster tourism, making Savannah a key destination in the southeastern United States.
Property Highlights:
• The Grand Savannah Hotel ((to be Choice Hotels Flag in Q3 2024)
• 40-Rooms / 3 Stories / Interior Corridor
• Year Built - 2006 / Renovated - 2024
• Located in a High Growth Market
• Upward Trend in Revenue
• Amenities Include: Fitness Center, Business Center
Location Highlights:
• 12.9 Miles to Savannah/Hilton Head International Airport
• 14.3 Miles to Savannah St. Patrick’s Day Parade
• 14.6 Miles to Savannah Music Festival
• 14.7 Miles to Savannah College of Art & Design
• 15.5 Miles to Savannah State University
• 15.8 Miles to Forsyth Park
• 16 Miles from Savannah Historic District
• 16.2 Miles to Savannah Music Festival
• 33.7 Miles to Tybee Island
Financial Highlights:
• List Price of $4,950,000
• Year 1 Projected Room Revenue of $1,185,520
• Year 1 Projected NOI of $485,693
• Year 1 Projected ADR / Occ / RevPAR: $116.00 ADR / 70.00% Occ / $81.20 RevPAR
• Year 1 Projected Cap Rate of 9.81%
DSH Hotel Advisors has been retained as the exclusive broker to market for sale The Grand Savannah Hotel, located in Savannah, Georgia. The hotel is undergoing final renovations before being added to the Choice Hotels system (Q3 2024). The property is situated near multiple diverse demand generators and in a high growth market.
PROPERTY OVERVIEW
The Grand Savannah Hotel was built in 2006, fully renovated in 2024, and remains in excellent condition. Current ownership estimates that the change of ownership PIP would be approximately $25,000+/-; however, that is only an estimate and would need to be verified by Choice Hotels via an issued change of ownership PIP. Since January 2024, the property has undergone extensive renovations including but not limited to the following:
• New Roof (with warranty)
• New Paint - Interior & Exterior
• All New Mattresses
• New Case Goods
• New FFE
MARKET OVERVIEW
The property located in Savannah, Georgia, is situated near multiple diverse demand generators and in a high growth market. Guest types may include leisure and business travelers, travelers on I-95, healthcare professionals, travel nurses, construction workers, Savannah State University students and their families, tourists as well as group business which can include sports teams, family reunions, wedding parties and more. This offering presents a unique opportunity for an investor to acquire a Choice hotel in the highly desirable Savannah market.
SAVANNAH, GEORGIA
Savannah, Georgia, is a vibrant city known for its rich history, stunning architecture, and picturesque squares. Major demand generators include its thriving tourism industry, significant port operations, and a growing film industry. The city attracts over 14 million visitors annually, drawn by its well-preserved historical district, numerous parks, and vibrant cultural scene. Key attractions include the historic Forsyth Park, the bustling River Street, the Savannah Historic District, and the Bonaventure Cemetery. Additionally, events such as the Savannah Music Festival and the St. Patrick’s Day Parade further bolster tourism, making Savannah a key destination in the southeastern United States.
Property Highlights:
• The Grand Savannah Hotel ((to be Choice Hotels Flag in Q3 2024)
• 40-Rooms / 3 Stories / Interior Corridor
• Year Built - 2006 / Renovated - 2024
• Located in a High Growth Market
• Upward Trend in Revenue
• Amenities Include: Fitness Center, Business Center
Location Highlights:
• 12.9 Miles to Savannah/Hilton Head International Airport
• 14.3 Miles to Savannah St. Patrick’s Day Parade
• 14.6 Miles to Savannah Music Festival
• 14.7 Miles to Savannah College of Art & Design
• 15.5 Miles to Savannah State University
• 15.8 Miles to Forsyth Park
• 16 Miles from Savannah Historic District
• 16.2 Miles to Savannah Music Festival
• 33.7 Miles to Tybee Island
Financial Highlights:
• List Price of $4,950,000
• Year 1 Projected Room Revenue of $1,185,520
• Year 1 Projected NOI of $485,693
• Year 1 Projected ADR / Occ / RevPAR: $116.00 ADR / 70.00% Occ / $81.20 RevPAR
• Year 1 Projected Cap Rate of 9.81%
Property Details
- Class
- B
- Year Built/Renovated
- 2006/2024
- Stories
- 3
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 43,560 SF
- Units
- 40
Highlights
- Year Built - 2006 / Renovated - 2024
- Located in a High Growth Market
- Upward Trend in Revenue
- 12.9 Miles to Savannah/Hilton Head International Airport
- Year 1 Projected ADR / Occ / RevPAR: $116.00 ADR / 70.00% Occ / $81.20 RevPAR
- Year 1 Projected Cap Rate of 9.81%
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