Lake Charles, Louisiana, offers a unique opportunity for investors to capitalize on the city's growing demand for accommodations. With 2 hotels for sale, investors can choose from a variety of properties that cater to different types of travelers. Hotels in Lake Charles can represent a range of investments, from boutique hotels to large chain establishments, each offering a distinct experience for guests. The city's amenities, infrastructure, and location make it an attractive destination for travelers. For instance, the city's proximity to McNeese State University and the Lake Charles Civic Center makes it an ideal location for hotels that cater to students, families, and business travelers. Additionally, the city's scenic lakes and parks, such as Shiver-Me-Timbers Millennium Park, provide a picturesque backdrop for hotels that offer outdoor recreational activities. The city's diverse economy, which includes major industries such as petrochemical refining, education, and healthcare, also contributes to the demand for hotels. Notable companies like Citgo, PPG Industries, and Phillips 66 have a presence in the city, making it an attractive location for business travelers.
Lake Charles is a city that offers a unique blend of Southern charm and modern amenities. The city's hotels are situated near major attractions like the Lake Charles Civic Center, the Imperial Calcasieu Museum, and the Lake Charles Symphony. In addition to hotels, Lake Charles also offers a range of other commercial properties, including restaurants, apartment buildings, and shopping centers. For example, the city's restaurant scene is diverse, with a range of eateries that serve everything from Cajun cuisine to international fare. Apartment buildings in Lake Charles offer a range of amenities, including poolside living and scenic views of the city's lakes. Shopping centers like the Lake Charles Mall provide a convenient location for retailers to set up shop. Overall, Lake Charles is a city that offers a unique blend of small-town charm and big-city amenities, making it an attractive location for investors and travelers alike.
What factors should I consider when buying a hotel in Lake Charles?
When considering buying a hotel in Lake Charles, there are several key factors to take into account, including:
- The current market conditions, with 2 available listings of hotels, an average price per square foot of $120 USD, and an average size of 49,833 square feet, as well as a largest size of 58,266 square feet.
- The local economy, driven by industries such as petrochemical refining, gambling, tourism, and education, with major employers like the Calcasieu Parish School System and L'Auberge Casino Resort.
- The city's infrastructure, including transportation hubs like Lake Charles Regional Airport and the Port of Lake Charles, as well as amenities like parks, recreational opportunities, and educational institutions like McNeese State University.
Additionally, it's essential to consider financing options, such as CRE loans, which can provide the necessary funding for your hotel purchase. For more information on commercial real estate loans, check out our article at CRE loans.
How is the value of a hotel for sale typically calculated?
When evaluating a hotel for sale in Lake Charles, the value is typically calculated through a comprehensive CRE appraisal, which considers factors such as the property's income-generating potential, local market conditions, and the overall condition of the hotel. For instance, a CRE appraisal may assess the hotel's average daily rate, occupancy rate, and revenue per available room, as well as the demand for accommodations in the Lake Charles area, which is influenced by the presence of major employers like the Calcasieu Parish School System and L'Auberge Casino Resort, and attractions like the Louisiana Pirate Festival and Mardi Gras.
Currently, there are 2 hotel listings available in Lake Charles, with an average price per square foot of $120 USD and an average size of 49,833 square feet. The largest hotel listing available is 58,266 square feet, and the average cap rate is. For a more in-depth understanding of the hotel valuation process, I recommend checking out our article on CRE appraisals at CRE appraisal.
