for sale the Comfort Inn of Lexington, Kentucky, located at 5531 Athens Boonesboro Rd, Lexington, KY 40509 (hereafter, the “hotel” or the “property”). The hotel is located on a 1.98-acre lot and is offered with fee-simple interest. The hotel is a 59-unit, interior-corridor, 3-story, limited-service asset located at the intersection of Interstate-75 (58,390 Vehicles Per Day), and Athens Boonesboro Rd (3,061 Vehicles Per Day). Constructed in 1995, the property is in exceptional condition and all 59-units are in operational order with minimal PIP expected for a new investor. The hotel is conveniently located outside of downtown Lexington (9 miles), and Blue Grass Airport (19 miles). The hotel benefits from many demand generators ranging from Keeneland Racecourse, Red Mile Gaming, Buffalo Trace Distillery, Woodford Reserve Distillery, and Wild Turkey Distillery. The hotel appreciates consistent occupancy from a variety of leisure and transient guests. It should be noted that the hotel is also close to multiple universities including The University of Kentucky (8.5 Miles). Previous ownership completed a major renovation beginning in 2020 and completed in 2021. Current ownership has installed a new roof as of late 2022 which includes a 15-year warranty. It is to be noted that current ownership purchased the hotel in 2022 picking up an underperforming asset with goals of increasing ADR and RevPAR. In 2021, the hotel achieved a RevPAR of $28.35, translating to a RevPAR penetration index of 70.2%. 2022 finished stronger at a RevPAR of $36.71, translating to a RevPAR penetration index of 79% with an ADR of $86.63. This proves that the hotel has a significant upside that an offensive, hands-on, owner-operator who can better adjust rates to create a competitive ADR with a competitive set of: Quality Inn Lexington East/Hamburg Area, Best Western Lexington Inn, La Quinta Inn & Suites by Wyndham, and GuestHouse Inn Lexington.
