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Classic Auction - Hospitality

Quality Inn Lancaster

2129 Lincoln Hwy E, Lancaster, PA 17602

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  • Asset Type
  • Real Estate
  • Property Type
  • Hospitality
  • Land Area
  • 2.10 Acres
  • Year Built
  • 1990
  • Year Renovated
  • 2019
  • Number of Floors
  • 3
  • Number of Buildings
  • 1
  • Parking Count
  • 100
  • Hospitality Type
  • Limited Service
  • Number of Rooms
  • 98 Rooms

Quality Inn Lancaster

Investment Highlights

  • Strategic location proximate to several major cities such as New York City, Philadelphia, Baltimore, Washington DC
  • Lancaster saw has an increase of 22.3% in total jobs in the last 8 years, it is positioned for continued economic strength in industrial, agriculture and tourism
  • Hotel generated over $2M in revenue in 2019 and an NOI of $1m+, with third party management
  • Strong Historical performance with opportunity for value add in increasing ADR.
  • The hotel is being sold with a Quality Inn Choice franchise; a buyer could investigate the possibility of converting the brand. Multiple higher-tiered rebranding options are available. PIPs are available for Best Western, Radisson, and Extended Stay America.
  • Recently renovated with full gut job between 2017-2019 including: gorgeous all new finishes, new framing, drywall, insulation, electrical, subflooring, flooring, plumbing, roof, lobby, public spaces, automatic doors, new RFID BLE Kaba Ilco locking systems, new security and fire safety systems, new lighting, new water heaters, new FF&E, new PTAC’s, all-new premium guestrooms and bathrooms, with a beautifully refinished parking lot
  • High barrier to entry in the highly desirable Lancaster market, with replacement cost north of $15,000,000. Tremendous upside potential.


Offering Details

Berkadia Hotel’s & Hospitality has been exclusively retained in connection with the solicitation of offers to acquire the fee simple interest in the 98-room Quality Inn Lancaster, Pennsylvania via an online auction hosted November 10th through 12th 2020 on RealInsight Marketplace. The property was originally built in 1990 and was completely renovated between 2017 and 2019. The Hotel would greatly benefit from refreshed marketing and operational strategies as it was absentee owned and managed by a third party. A new owner will be able to step into a recently renovated cash-flowing hotel with an opportunity to reposition to any available flag.

The Quality Inn Lancaster is located directly off Lincoln Highway East, 42 miles southeast of Harrisburg, 79 miles west of Philadelphia and 82 miles northeast of Baltimore, 36 miles southeast of Harrisburg International Airport and 4.5 miles east of Downtown Lancaster. The hotel is within 7 miles from Dutch Wonderland, Sight & Sound Theater, The Amish experience at Plain & Fancy Farm. The hotel is surrounded by restaurants, office buildings, retail shopping centers and residential areas. Lancaster County is surrounded by Amish Communities and its historical time-honored traditions.

In addition to the plethora of leisure demand drivers, the hotel is proximate to many corporate demand drivers including Greenfield, Lancaster County Convention center, Lancaster General Hospital, Dart Container Corporation, Nordstrom Inc, Fulton Bank, LSC Communications, Johnson & Johnson, and Kellogg Company. Lancaster has seen economic growth in the recent years. Between 2010 and 2018 Lancaster increased its workforce by 25,814 people. Access to major highways, a good workforce, and affordable real estate all make central Pennsylvania a prime area for warehouses and distribution centers. The Property presents a great opportunity for a buyer to enter a growing, diverse market.
 

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Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

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Platform Fee

The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.

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Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • Lamar P. Fisher

    Fisher Auction Company Inc.

    License: AU005925