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Quality Suites & Sleep Inn El Paso 949 & 953 Sunland Park Drive El Paso, TX 79922

Hotel
139 Rooms
55% Occupied
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Property Details (949 & 953 Sunland Park Drive, El Paso, TX 79922)
Asset Type Commercial
Starting Bid $1,400,000
Participation Deposit $25,000
Property Quality Suites & Sleep Inn El Paso
Property Description Quality Suites & Sleep Inn Hotels Located in El Paso, TX
Primary Property Type Hotel
Year Built 1997
Number of Buildings 2
Number of Rooms 139
Occupancy 55.0%
Occupancy As of Date 12/31/2017
Event Item # B231-452
Property ID 1000006527
Transaction Fee 5% of Winning Bid Amount (A minimum of $20,000 will apply)
  • Description
  • Due Diligence
Description for 949 & 953 Sunland Park Drive, El Paso, TX 79922

Property tours are available on the following dates by appointment. Please contact the listing broker to schedule a tour.
• February 20 & 21
• March 7 & 8

Quality Suites El Paso - Property Details::
• Rooms: 61
• Year Built: 1997
• Year Renovated: 2017
• Occupancy (Dec 2017 TTM): 50%

Sleep Inn El Paso - Property Details:
• Rooms: 63
• Year Built: 1997
• Year Renovated: 2017
• Occupancy (Dec 2017 TTM): 59%

Quality Suites & Sleep Inn El Paso - Investment Highlights:
• Fee-simple interest in the institutionally owned and third-party managed 63-room Sleep Inn University and 61-room Quality Suites University offered at a fraction of replacement cost
• Properties offered for sale through Ten-X in the March 21st auction
• Available unencumbered of debt and third-party management with the ability to retain the Sleep Inn and Quality Suites brands
• Minimal change of ownership PIP expected with approximately $2.3MM (~$19k per key) of total renovation completed in recent years
• Strong operating economies of scale by owning both University market Choice assets and the opportunity to operate with a shared labor pool on both properties
• Adjacent to Interstate 10 with direct accessibility to Sunland Park Drive and upwards of 110,000 vehicles passing the intersection daily
• Optimal location just north of downtown El Paso with easy accessibility to the University of Texas at El Paso and Sunland Park Race Track and Casino
• Within walking distance of numerous full-service nationally recognized restaurants
• Proximate to all broader El Paso area demand including downtown El Paso, El Paso Zoo, El Paso Museum of Art, Fort Bliss, National Border Patrol Museum, and Franklin Mountains State Park

Quality Suites & Sleep Inn El Paso -Investment Overview:
Paramount Lodging Advisors (PLA) and Ten-X are pleased to exclusively present the opportunity to acquire as a two-property portfolio the fee-simple interests in the 61-room Quality Suites and the 63-room Sleep Inn in El Paso, Texas.

Since 2014, each of the three-story properties have received significant capital improvements, the Quality Suites has received $760,000 or $12.5k per key in capital improvements, and the Sleep Inn has received $1.2MM or $19k per key in capital improvements.

Located adjacent to one another on Sunland Park Drive in El Paso, and adjacent to the properties are afforded proximity to the area’s largest demand generators. Fort Bliss, which employs nearly 50,000 and creates an economic impact of $6.0 billion, is located approximately ten-miles from the property. The University of Texas El Paso, which has an enrollment of 23,000 students, is located less than five miles from the property. Additionally, in 2016 Texas Tech University announced a $25.0 million dollar dental school, the state of Texas’ first dental school in five decades, and upon opening in 2020 will be located 12-miles from the property. Other employers with a significant presence in El Paso include Phillips Consumer Electronics, General Motors, and Delphi Automotive Systems.

Auctioneer Licensing Information

Ten-X Joshua Jacob RE Brkr 9004662
Texas Real Estate Commission Information About Brokerage Services: TREC Information
Texas Consumer Protection Notice: TREC Consumer 




Property Details


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Open House Information


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Redemption date of {[{value.description | auctionDate:'YYYY-MM-DD': "MMM DD, YYYY"}]}
  • Kami Burnette
  • Paramount Lodging Advisors
  • TX RE Lic No: 688841
  • 512-574-1786
  • kburnette@paramountlodging.com
  • Contact
For auction related questions, contact:
  • Kirk Christensen
  • Ten-X
  • 949-672-3664
  • kirkc@ten-x.com
  • Contact
For registration, website, or transaction related questions, please call a Ten-X representative at (888) 770-7332.
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