Property Description
Passport Advisory Group is pleased to offer on an exclusive basis the Motel 6 located in Sikeston, Missouri. Situated at the intersection of Interstates 55 and 57 Sikeston is the halfway point between St. Louis and Memphis. The Property is a 45-unit, two-stories exterior corridor hotel. The Property was completely renovated in 2007, including plumbing, electrical bathrooms furniture and all soft goods.
As of the 2010 census, the city population was 16,318. With agriculture, industry, transportation, retail and tourism, distribution, and healthcare, the Sikeston area features a diversified economy.
Key Investment Highlights
- Strong, Stable Lodging Market - The Hotel is experiencing increased room revenues. The YE 2011 room revenues increased by approximately eight percent over same period in 2010. The Hotel has experienced increases in all three key measurements, nearly 7% percent in occupancy and 7.32% and the average daily rate (“ADR”) resulting in a RevPAR increase of approximately 8.45%.
- Excellent Location - Sikeston sits halfway between St. Louis, Missouri and Memphis, Tennessee on Interstate 55 where Interstate 57 and U.S. Route 60 intersect.
- Ideal for Owner/Operator - With 45 units the hotel is ideally suited for an owner/operator which allows for an ease of management and a reduction of expenses.
- Unencumbered by Management - The Property is being offered unencumbered of management.
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