Fairfield Inn & Suites Emporia

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 Fairfield Inn & Suites Emporia, located at 104 W Cloverleaf Drive, Emporia, VA 23847. The subject property is a 82-room three-story, interior corridor, limited-service asset located nearby Interstate 95 (37,922 Vehicles Per Day) and US Highway 58 (18,414 Vehicles Per Day). The property, built in 2002, sits on 2.06 acres of land and offered with fee simple interest, unencumbered by debt, and unencumbered by third-party management. The hotel is conveniently located in Emporia, Virginia equidistance from Richmond (66 miles), and Norfolk (79 miles) offering opportunities for overflow tourism, regional events, and business ties, further contributing to the hotel’s guest base.

The Fairfield Inn has undergone a significant exterior renovation including a re-imagined entryway with a brand-new porte-cochere, landscaping, patio furniture, and exterior paint and lighting package. In addition to the exterior renovations, current ownership has already ordered nearly $450,000-worth of furniture, fixtures, and equipment to make progress towards the completion of their existing property-improvement-plan. Among the items ordered by ownership, which should be installed prior to a potential sale, including new carpet throughout the hotel, new common area wall vinyl, common area furniture (sofas, sofa tables, cocktail tables, lounge chairs, artwork, breakfast tables, dining chairs, community tables) and cased goods for the guest rooms (side chairs, task chairs, cocktail tables, guestroom sofa sleepers, desk lamps, artwork) and guest bathrooms (shower/tub surrounds, shower doors, shower pans). Upon completion of the installation of this FF&E, a new owner can expect to significantly increase the guest satisfaction scores at the hotel, thereby increasing occupancy via returning guests and ADR by positioning the hotel as a leading option in the mar ket.

Notably, the Fairfield Inn & Suites achieved ADR penetration indices of less than 100% over the prior three years, despite the superior structure, location, and loyalty rewards program associated with the Marriott brand compared to the hotel’s competitive set. This should signal significant operational upside to prospective investors. For reference, the Fairfield Inn & Suites ranked as 4th among the six hotels in it’s competitive set in 2021, achieving just $91.72 ADR whilst the competitive set achieved $94.17 ADR (97% penetration). Similarly, the Fairfield Inn & Suites ranked as 5th among the six hotels in it’s competitive set in 2022, achieving just $94.10 ADR whilst the competitive set achieved $103.75 ADR (91% penetration). Most recently, the Fairfield Inn & Suites ranked as 4th among the six hotels in it’s competitive set in 2023, achieving just $104.35 ADR whilst the competitive set achieved $110.61 ADR (94% penetration). This was versus a competitive set of Quality Inn Emporia, Holiday Inn Express & Suites Emporia, Hampton Inn Emporia, Comfort Inn Emporia, and Country Inn & Suites Emporia