Quality Inn Fayetteville Cross Creek Mall

Property listed by Bryan Johnson License number: NC 271733

Property tours are by APPOINTMENT ONLY. Any attempts to visit/contact property without agent approval will result in a ban from all future listings! Prospective buyers can view financial history including revenue, NOI, ADR, and Occupancy by clicking "Download OM" and signing a confidentiality agreement. This property is currently listed as unpriced. NO PRICING GUIDANCE IS AVAILABLE. Ownership will review and respond to all offers and ultimately select the offer with the best price and terms.

Colliers, as an exclusive representative of the seller, is pleased to present to qualified investors the newly-opened Quality Inn Fayetteville- Cross Creek Mall, located at 562 Cross Creek Mall, Fayetteville, NC 28303. The subject property is a 129-room three-story, mixed-corridor, limited-service asset located at the intersection of Skibo Road (43,000 vehicles per day), and All American Fwy (45,000 vehicles per day). The property, built in 1989, sits on a 2.96-acre parcel and is offered with fee simple interest, unencumbered by debt, and unencumbered by third-party management. The hotel is conveniently located in Fayetteville, North Carolina with proximity to Charlotte (145 miles), and Raleigh-Durham (60 miles).

Current ownership has made significant efforts to renovate major parts of the hotel as part of a major conversion Property Improvement Plan from a different franchise, which took place from 2021-2023. Ownership has invested approximately $1,200,000 in capital expenditures over the prior three years to include a new roof, new interior and exterior signage, washer and dryers, ice machine, toilets, mattresses, bed bases, TVs, appliances, and paint. In addition, the owner renovated the lobby and common areas, the breakfast area, and replaced all room locks, installed LVT flooring, and lamp package to all rooms. The offering presents an opportunity for hands-on operators to enter a cash-flowing hotel with minimal expected change-in-ownership PIP, with additional upside to revenue through strategic marketing and sales efforts. A new owner can leverage the recent renovations at the hotel to continue to out-perform the STR defined-competitive set of Comfort Inn, Best Night Inn, Days Inn, Holiday Inn Express, and Extended Stay America. In the property’s first full year re-opened as a Quality Inn in 2023, the hotel achieved Occupancy of 55.2% and ADR of $69.40, for RevPAR of $38.31. This contributed to an 88% RevPAR penetration index against the competitive set’s RevPAR of $43.70, signaling significant room to grow ADR and therefore rooms revenue and returns. A new owner can leverage the recent renovations at the property to increase ADR and thereby push the property’s RevPAR penetration to be in-line with the competitive set.

Fayetteville is the sixth largest city in the state of North Carolina and has a strong connection to the military being home to Fort Liberty formerly known as Fort Bragg, one of the largest and most important U.S. Army installations. The city has seen economic growth in recent years, with ongoing developments and new businesses contributing to the city’s expansion. The downtown area is undergoing revitalization, with new dining options, shops, and cultural spaces enhancing overall city experience.