|Property Type||Hotels & Hospitality,Hospitality|
JLL’s Hotels & Hospitality Group, in conjunction with Ten-X, is pleased to offer for sale the fee simple interest in the 74-room Fairfield Inn & Suites Springdale (the “Hotel” or “Property”), situated at the intersection of I-49 and SR 412 in the heart of Springdale. The Hotel is conveniently located within three miles of many of Springdale’s largest hotel demand generators including Arvest Ballpark, Northwest Health System, and the corporate headquarters of Tyson Foods. The Property is offered unencumbered by management, providing new ownership exceptional upside through PIP-related product upgrades and the implementation of aggressive revenue management tactics.
Situated directly off I-49, the Hotel is within five miles of many of Springdale’s largest employers including Rockline Industries, Kawneer, and the headquarters for Tyson Foods, George’s, and Northwest Health Systems. The Property is also proximate to many of the region’s most popular leisure and group attractions including Arvest Ballpark, the Jones Center, Parsons Stadium (home to the Rodeo of the Ozarks), Northwest Arkansas Convention Center, and the University of Arkansas.
Northwest Arkansas has one of the fastest-growing economies in the nation. During Q4 2021, job creation was more than twice the national rate and nonfarm payrolls had surpassed pre-pandemic levels. Further, the Springdale–Rogers MSA debuted at #8 on Milken Institute’s list of the top 10 Best Performing Large Cities of 2022. This impressive showing, up from #15 the previous year, was based on the region’s strong job, wage, and tech growth.
Broker of Record | Deborah L. Johnson | License #PB00065489
During 2018 and 2019, the Hotel achieved an average RevPAR index of 117% and an NOI margin of 26%.
PIP-required upgrades and improved revenue management strategies will allow new owners to increase ADR and recapture lost occupancy.
1043 Reiff St is in a premier commercial corridor and is easily accessible to the over 30,000 vehicles traveling along W Sunset Avenue each day.
Enhanced expense efficiencies will drive additional NOI upside, as NOI margins for premium select-service assets are typically benchmarked at 35%+.
The Hotel is offered unencumbered of both debt and management which allows a new investor to effectively implement a business plan that aligns with their investment strategy and an operating model that will serve to improve top and bottom-line performance.
A new investor will have a remarkable opportunity to acquire the Property at a significant discount to replacement cost. Given the ability to acquire the Property at an extremely attractive basis, a new owner will increase their overall return and profitability for their investors.