econo lodge | idaho falls...idaho falls idaho temple and idaho falls greenbelt are local landmarks,...
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ECONO LODGE | IDAHO FALLS888 N HOLMES AVE | IDAHO FALLS, ID 83401
Offering Memorandum
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NON-ENDORSEMENT & DISCLAIMER NOTICE
CONFIDENTIALITY & DISCLAIMERThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by
the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of
Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and
to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due
diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income
or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and
improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the
physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions
to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we
believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus
& Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.
© 2017 Marcus & Millichap. All rights reserved.
NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package.
The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said
corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and
is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.
PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
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ECONO LODGE | IDAHO FALLS888 N HOLMES AVE | IDAHO FALLS, ID 83401
O F F I C ES N AT I O N W I D E A N D TH R O U G H O UT C A N A D A
WWW.MARCUSMILLICHAP.COM
EXCLUSIVELY LISTED BY
EDDY NEVAREZAssociate Director
National Hospitality GroupCell: 818.339.6506
Office: [email protected]
License: CA 01960485
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07 INVESTMENT OVERVIEWSECTION 1
19 FINANCIAL ANALYSISSECTION 2
3931
MARKET OVERVIEWSECTION 4
MARKET COMPETITORSSECTION 3
TABLE OF CONTENTS
EXCLUSIVELY LISTED BY:
ECONO LODGE | IDAHO FALLS888 N HOLMES AVE | IDAHO FALLS, ID 83401
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of theinformation. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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ECONO LODGE | IDAHO FALLS
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INVESTMENTOVERVIEW
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EXECUTIVE SUMMARY
OFFERING SUMMARY
VITAL DATA
Current Year 1
Price $4,100,000 Cap Rate 13.61% 12.27%
PIP $0 NOI $558,205 $571,502
Down Payment 35% / $1,435,000Net Cash FlowAfter Debt Service
34.58% / $380,383 35.75% / $393,261
Loan Amount $2,665,000 Total Return 40.35% / $443,899 41.53% / $456,776
Loan Type Proposed New
Interest Rate 5.0% / 30 Years
Price / Room $44,565
Ownership Type Fee Simple
Number of Rooms 92
Number of Buildings 5
Number of Stories 2
Year Built 1960
Lot Size 3.64 Acres
MAJOR EMPLOYERS
EMPLOYER # OF EMPLOYEES
Barrett Business Services Inc 5,002Idaho National Laboratory 3,761
Eastern Idaho Regional 1,530
Walmart 800Intermountain Natural LLC 597
READYCARE 420
Idahoan Foods 281Channel Blend LLC 250
Fred Meyer Jewelers 00156 250
Energy Idaho Operations Office 231City of Idaho Falls 218
Morningstar Senior MGT LLC 207
DEMOGRAPHICS
1-Miles 3-Miles 5-Miles2019 Estimate Pop 12,159 60,704 99,542
2010 Census Pop 11,676 55,907 89,062
2019 Estimate HH 4,758 23,281 35,8602010 Census HH 4,480 21,117 31,737
Median HH Income $38,328 $56,108 $61,686
Per Capita Income $20,598 $28,260 $28,253Average HH Income $50,880 $72,977 $77,873
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INVESTMENT OVERVIEW
Marcus & Millichap’s National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale the EconoLodge, a Choice hotel. The 92 room hotel was recently branded and fully renovated in 2017-2018. Seller spent over $650,000.00 on extensive renovations and PIP requirements to convert into a Choice Hotel Brand. Seller finalized fully renovations and PIP end of 2018.
Hotel facilities and amenities include a breakfast dinning area, guest laundry, a seasonal outdoor pool, an indoor whirlpool, a fitness room, vending areas, as well as a 2,352 square foot meeting room. Along with a restaurant, this hotel has a bar/lounge. The restaurant currently is a leased income property.
EconoLodge near Snake Rive in Idaho Falls, is conveniently located just off Route 26, close to a variety of attractions around historic downtown Idaho Falls, Yellowstone and Grand Teton National Parks, which are each less than a 2-hour drive away. Idaho Falls Idaho Temple and Idaho Falls Greenbelt are local landmarks, and some of the area’s attractions include Blast Off and Wes Deist Aquatic Center. Yellowstone National Park is a major income producing income for tourist and visitors.
• Gateway to Yellowstone and Grand Teton National Park
• Near local Idaho Landmarks
• Idaho Temple is minutes away
• Walking distance to Idaho Falls Civic Auditoriumand other attractions
INVESTMENT HIGHLIGHTS
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PROPERTY SUMMARY
THE OFFERING
Property Econo Lodge Idaho Falls
Price $4,100,000
Property Address888 N Holmes Ave,
Idaho Falls, ID
Parcel Number RPA0420002001A
Zoning
COMMERCIAL / RESTAURANT, BAR,
FOOD SERVICES
SITE DESCRIPTION
Number of Rooms 92
ADA Rooms 1
Number of Stories 2
Year Built / Renovated 1960
Ownership Type Fee Simple
Lot Size 3.64 acre(s)
PROPOSED FINANCING
FIRST TRUST DEED
Loan Amount $2,665,000
Loan Type Proposed New
Interest Rate 5.0%
Amortization 30 Years
Loan Term 10 years
Loan to Value 65%
Debt Coverage Ratio 3.25
Second Trust Deed
Loan Type All Cash
MECHANICAL
Fire Protection Sprinklers
CHANGE TO FRANCHISE
Parent Company Choice Hotels
ROOM TYPES
NUMBER OF ROOMS ROOM TYPE
57 Double
35 King
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REGIONAL MAPN
ECONO LODGE | IDAHO FALLS
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LOCAL MAP N
ECONO LODGE | IDAHO FALLS
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AERIAL PHOTO
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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ECONO LODGE | IDAHO FALLS
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FINANCIAL ANALYSIS
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STRFINANCIAL ANALYSIS
Monthly Performance at a Glance - My Property vs. Competitive Set
My Prop Comp Set Index (MPI) My Prop Comp Set Index (ARI) My Prop Comp Set Index (RGI)
Current Month 48.6 21.6 224.8 37.37 51.79 72.1 18.17 11.20 162.2
Year To Date 41.0 33.0 124.1 37.22 58.05 64.1 15.25 19.17 79.5
Running 3 Month 42.2 31.5 133.8 36.99 57.27 64.6 15.62 18.07 86.4
Running 12 Month 57.5 54.3 105.9 54.13 75.60 71.6 31.15 41.09 75.8
My Prop Comp Set Index (MPI) My Prop Comp Set Index (ARI) My Prop Comp Set Index (RGI)
Current Month -8.3 -60.0 129.3 -15.9 -25.6 13.0 -22.9 -70.3 159.1
Year To Date 3.2 -26.5 40.3 -9.2 -7.3 -2.0 -6.3 -31.8 37.4
Running 3 Month -4.4 -33.1 43.0 -10.6 -9.9 -0.7 -14.5 -39.8 42.0
Running 12 Month 6.2 -9.0 16.6 -10.9 0.1 -11.0 -5.4 -8.9 3.8
April 2020
April 2020 vs. 2019 Percent Change (%)
Occupancy (%)
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2020 STR, LLC / STR Global, Ltd. trading as “STR”. © CoStar Realty Information, Inc.
ADR RevPAROccupancy
ADR RevPAR
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My Property vs. Comp Set and Industry Segments
48.6 -8.3 41.0 3.2 42.2 -4.4 57.5 6.2 0.0 0.8 1.1 0.5
22.6 -63.9 40.4 -25.1 38.5 -33.0 59.3 -6.7 -7.7 -1.7 -2.4 0.0
29.6 -43.7 36.6 -19.1 36.7 -24.3 53.2 -6.8 -2.9 -0.5 -0.8 0.1
22.1 -62.4 37.5 -25.9 35.6 -33.7 57.6 -6.6 -7.3 -1.1 -1.8 0.3
26.7 -45.1 32.4 -21.7 32.0 -27.5 51.5 -6.5
21.6 -60.0 33.0 -26.5 31.5 -33.1 54.3 -9.0
-3.4
0.0
-0.7
0.0
-1.0
0.0
-0.1
0.0
37.37 -15.9 37.22 -9.2 36.99 -10.6 54.13 -8.3 4.0 -3.3 6.8
70.18 -28.4 91.62 -4.2 90.76 -6.1 107.46 -66.7 -26.4 -34.6 -6.6
55.90 -17.8 61.20 -6.2 61.04 -7.4 76.51 -45.3 -19.5 -24.9 -6.7
68.39 -23.9 84.86 -3.8 84.01 -5.5 97.86
-10.9
2.4
0.7
1.1 -65.2 -26.7 -34.8 -6.4
50.09 -15.7 52.97 -6.3 52.58 -7.4 67.02 -47.0 -22.3 -28.3 -6.6
51.79 -25.6 58.05 -7.3 57.27 -9.9 75.60
-1.3
0.1 -60.0 -26.5 -33.1 -9.0
18.17 -22.9 15.25 -6.3 15.62 -14.5 31.15 -5.4 -22.9 -5.6 -13.5 -4.9
15.87 -74.2 37.03 -28.3 34.99 -37.1 63.69 -4.5 -76.2 -29.5 -38.6 -4.4
16.54 -53.7 22.38 -24.1 22.42 -30.0 40.68 -6.1 -55.0 -24.5 -30.5 -6.0
15.14 -71.4 31.84 -28.7 29.92 -37.3 56.33 -5.6 -73.5 -29.4 -38.4 -5.4
13.38 -53.7 17.14 -26.7 16.82 -32.9 34.54 -7.7 -55.3 -27.2 -33.6 -7.8
11.20 -70.3 19.17 -31.8 18.07 -39.8 41.09 -8.9 -70.3 -31.8 -39.8 -8.9
Rooms Rooms
22503 16346 Properties
6592 2828 6
8384 5937
1297 1242
366 311
Submarket Scale: Economy Chains
Submarket: Idaho South Area
Market Class: Economy Class
Market: Idaho
YTD % ChgRun 12 Mon
% Chg
Run 3 Mon %
Chg
Supply
Econo Lodge Near Snake River Idaho Falls
Occupancy (%)
% Chg
Competitive Set: Competitors
Submarket Scale: Economy Chains
Submarket: Idaho South Area
Market Class: Economy Class
Submarket: Idaho South Area
Market Class: Economy Class
Market: Idaho
Competitive Set: Competitors
Market Class: Economy Class
Market: Idaho
Competitive Set: Competitors
Submarket Scale: Economy Chains
Econo Lodge Near Snake River Idaho Falls
Econo Lodge Near Snake River Idaho Falls
207623533
Rooms Properties RoomsMarket: Idaho
Competitive Set: Competitors
Submarket Scale: Economy Chains
Rooms
% Chg
Census
Current
Month
Year to Date
Demand
Month %
Chg
Month %
ChgYTD % Chg
Run 3 Mon %
Chg
Run 12 Mon
% Chg
Market: Idaho
Revenue
Pipeline
Month %
ChgYTD % Chg
Run 3 Mon %
Chg
Run 12 Mon
% Chg
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2020 STR, LLC / STR Global, Ltd. trading as “STR”. © CoStar Realty Information, Inc.
% ChgRunning 12
Month
RevPAR
Current
Month% Chg Year to Date % Chg
Running 3
Month
175
70.8
72.6
See Help page for pipeline definitions.
Under ConstructionProperties
4
16
Planning
42.9
5
332
128
17
Properties
67
38
85.0
95.8
% Chg Year to Date
Sample %
Submarket: Idaho South Area
Sample
149
% ChgCurrent
Month% Chg
% Chg
Average Daily Rate
Running 3
Month% Chg
Running 12
Month
Running 3
Month% Chg
Running 12
Month% Chg
Census/Sample - Properties & Rooms
21
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22
Competitive Set Report
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2018 2019 2020 2018 2019 2020 2018 2019 2020
My Property 31.4 24.9 27.1 34.5 44.2 53.0 65.8 84.6 85.0 71.0 76.2 56.5 41.8 45.0 37.4 35.6 42.2 48.6 21.8 39.7 41.0 23.8 44.1 42.2 33.8 54.2 57.5
Competitive Set 38.0 38.6 38.4 39.2 47.7 54.1 73.9 81.6 77.5 70.2 79.4 54.5 39.3 42.1 37.3 36.5 36.7 21.6 41.7 44.9 33.0 45.2 47.2 31.5 57.5 59.7 54.3
Index (MPI) 82.6 64.5 70.5 88.1 92.6 98.1 89.1 103.6 109.6 101.1 96.0 103.7 106.5 106.7 100.3 97.6 115.0 224.8 52.4 88.5 124.1 52.6 93.5 133.8 58.9 90.8 105.9
Rank 5 of 6 5 of 6 5 of 6 4 of 6 4 of 6 4 of 6 5 of 6 3 of 6 2 of 6 2 of 6 4 of 6 3 of 6 3 of 6 3 of 5 4 of 6 4 of 6 3 of 6 1 of 5 5 of 6 5 of 6 2 of 6 5 of 6 4 of 6 2 of 6 6 of 6 5 of 6 2 of 6
% Chg
My Property 66.1 47.6 69.4 91.0 137.3 54.1 -10.8 -1.1 5.8 -8.3 2.6 30.7 33.2 80.6 38.2 3.0 -4.4 -8.3 120.9 82.1 3.2 116.5 85.6 -4.4 22.6 60.1 6.2
Competitive Set 1.7 21.1 22.1 19.4 9.5 -7.5 -1.6 -4.2 0.6 -3.1 3.4 9.1 -2.9 -7.0 -60.0 -3.0 7.8 -26.5 -1.2 4.4 -33.1 -0.1 3.9 -9.0
Index (MPI) 63.3 21.9 38.7 59.9 116.7 66.6 -9.4
-9.7
9.4 10.4
-9.4
1.3 2.0 34.9 28.9 65.5 42.4 10.7
-23.0
24.1 129.3 127.8 68.9 40.3 119.2 77.9 43.0 22.8 54.2 16.6
Rank 1 of 6 1 of 6 1 of 6 1 of 6 1 of 6 2 of 6 5 of 6 1 of 6 1 of 6 3 of 6 2 of 6 1 of 6 1 of 6 1 of 5 1 of 6 3 of 6 2 of 6 1 of 5 1 of 6 1 of 6 1 of 6 1 of 6 1 of 6 1 of 6 1 of 6 1 of 6 2 of 6
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2018 2019 2020 2018 2019 2020 2018 2019 2020
My Property 40.02 37.94 39.30 39.06 39.39 44.45 54.74 85.73 74.65 62.38 52.30 41.61 37.97 37.33 37.96 37.22 36.40 37.37 44.06 41.00 37.22 45.43 41.36 36.99 66.41 60.76 54.13
Competitive Set 58.00 55.72 59.35 58.87 60.40 69.63 73.61 97.14 93.75 90.06 78.18 63.62 60.65 58.76 59.96 58.25 59.51 51.79 63.03 62.63 58.05 63.27 63.57 57.27 80.50 75.52 75.60
Index (ARI) 69.0 68.1 66.2 66.3 65.2 63.8 74.4 88.3 79.6 69.3 66.9 65.4 62.6 63.5 63.3 63.9 61.2 72.1 69.9 65.5 64.1 71.8 65.1 64.6 82.5 80.5 71.6
Rank 6 of 6 6 of 6 6 of 6 6 of 6 6 of 6 6 of 6 6 of 6 4 of 6 6 of 6 6 of 6 6 of 6 6 of 6 6 of 6 5 of 5 6 of 6 6 of 6 6 of 6 5 of 5 5 of 6 6 of 6 6 of 6 5 of 6 6 of 6 6 of 6 4 of 6 5 of 6 6 of 6
% Chg
My Property -6.7 -4.6 3.3 1.7 8.2 -10.9 -23.3 -21.6 -4.7 -7.6 -15.9 1.3 -7.0 -9.2 3.1 -10.6 39.9 -8.5
Competitive Set -3.4 -4.2
-6.3
3.2
-12.5
1.7
-21.8
0.2 5.2
-0.3
2.0 -1.6 -0.4 -5.4
-5.1
4.6
-1.6
5.4
-3.4
1.0 -1.1 -1.5 1.1 -0.6 -7.3 1.0
-9.0
0.5 -9.9 8.4 -6.2
-10.9
0.1
Index (ARI) -3.4 -0.5
-4.3
8.0
-2.4
4.2 -9.2 -13.9 -21.9 2.9 -2.3 -9.5 -22.9 -17.1 -9.3 -6.7 -4.4 -3.7 -6.2
-25.6
13.0 0.3 -6.4 -2.0 2.1 -9.4 -0.7 29.1 -2.5 -11.0
Rank 6 of 6 4 of 6 1 of 6 2 of 6 6 of 6 5 of 6 6 of 6 2 of 6 2 of 6 5 of 6 6 of 6 6 of 6 4 of 6 4 of 5 5 of 6 4 of 6 6 of 6 3 of 5 3 of 6 5 of 6 5 of 6 3 of 6 6 of 6 5 of 6 1 of 6 5 of 6 6 of 6
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr 2018 2019 2020 2018 2019 2020 2018 2019 2020
My Property 12.57 9.45 10.64 13.49 17.40 23.58 36.04 72.53 63.44 44.27 39.85 23.52 15.89 16.78 14.20 13.24 15.37 18.17 9.61 16.29 15.25 10.80 18.25 15.62 22.47 32.92 31.15
Competitive Set 22.06 21.51 22.79 23.08 28.81 37.67 54.37 79.31 72.67 63.22 62.06 34.69 23.84 24.74 22.35 21.23 21.85 11.20 26.25 28.13 19.17 28.60 29.99 18.07 46.27 45.08 41.09
Index (RGI) 57.0 43.9 46.7 58.5 60.4 62.6 66.3 91.5 87.3 70.0 64.2 67.8 66.6 67.8 63.5 62.4 70.3 162.2 36.6 57.9 79.5 37.8 60.9 86.4 48.6 73.0 75.8
Rank 5 of 6 5 of 6 5 of 6 5 of 6 5 of 6 4 of 6 6 of 6 3 of 6 3 of 6 5 of 6 6 of 6 5 of 6 5 of 6 4 of 5 5 of 6 5 of 6 5 of 6 1 of 5 5 of 6 5 of 6 4 of 6 5 of 6 5 of 6 3 of 6 6 of 6 5 of 6 5 of 6
% Chg
My Property 55.0 40.8 75.1 94.2 122.3 34.9 -30.3 6.9 5.5 -18.3 2.6 26.4 77.7 33.5 -1.9 -11.7 -22.9 123.9 69.5 -6.3 123.4 69.0 -14.5 71.6 46.5 -5.4
Competitive Set -1.8 16.0 16.9 16.5 13.0 -5.9 -1.4 -5.0 -10.8
-21.3
0.1 -8.4 8.1 15.0 -1.9 -70.3 -2.0 7.2 -31.8 -0.2 4.9 -39.8 8.2 -2.6 -8.9
Index (RGI) 57.8 21.3 49.8 66.7 96.7 43.4 -29.3 12.6
-2.3
7.9 -8.3 -21.4 11.9 17.0 54.4 36.1
-8.0
6.7
-24.2
16.4 159.1 128.5 58.1 37.4 123.8 61.2 42.0 58.5 50.4 3.8
Rank 1 of 6 2 of 6 1 of 6 1 of 6 1 of 6 2 of 6 6 of 6 2 of 6 2 of 6 5 of 6 6 of 6 1 of 6 2 of 6 1 of 5 1 of 6 2 of 6 2 of 6 1 of 5 1 of 6 1 of 6 2 of 6 1 of 6 1 of 6 2 of 6 1 of 6 1 of 6 3 of 6Exchange Rate
Running 12 Month
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2020 STR, LLC / STR Global, Ltd. trading as “STR”. © CoStar Realty Information, Inc.
2018
2018
2018
2019
2019
2019
2020
2020
2020 Running 12 Month
Running 12 Month
RevPAR
Running 3 Month
Running 3 Month
Year To DateADR
Year To Date
Occupancy (%)Running 3 MonthYear To Date
39597999
119139159179199219
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr
Monthly Indexes
Occupancy Index (MPI) ADR Index (ARI) RevPAR Index (RGI) 100 %
-45
-40
-35
-30
-25
-20
-15
-10
-5
0
5
Year to Date Running 3 Month Running 12 Month
RevPAR Percent Change
My Property Competitive Set
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23
Response Report
This Year
Apr 9th - First Day of PassoverApr 10th - Good FridayApr 12th - Easter SundayApr 23rd - First Day of Ramadan
Last Year
Apr 19th - First Day of PassoverApr 19th - Good FridayApr 21st - Easter Sunday
STR# Name City, State Zip Phone May
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Aug
Sep
Oct
Nov
Dec
Jan
Feb
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16428 Econo Lodge Near Snake River Idaho Falls Idaho Falls, ID 83401-2625 (208) 523-5993 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●4105 Rodeway Inn Idaho Falls Idaho Falls, ID 83402-3313 (208) 523-8000 ● ● ● ● ● ● ● ● ○ ● ● ● ● ● ● ● ● ● ● ● ● ●6400 Motel 6 Idaho Falls Idaho Falls, ID 83402-2636 (208) 522-0112 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●8605 Super 8 Idaho Falls Idaho Falls, ID 83402-1821 (208) 881-0355 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●45299 Fairfield Inn & Suites Idaho Falls Idaho Falls, ID 83402-3348 (208) 552-7378 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●53727 Motel 6 Idaho Falls Snake River Idaho Falls, ID 83402 (208) 529-5400 ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ● ●
Data received:
○ = Monthly Only● = Monthly & Daily
2020
458
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2020 STR, LLC / STR Global, Ltd. trading as “STR”. © CoStar Realty Information, Inc.
198405
2414
2112
92 195706
2518
2215 16
2826
152221
2018 2019
5 62 411 12 1318
27
3
2016
30
1925 26
April 2020 (This Year)
4321
19
5
ThuWed
9
23
91
April 2019 (Last Year)Sun Mon Tue Wed Thu Fri SatSatMonSun
10 117
Tue
6 8
Fri
87 10
2327
17
2928 3020 24
171413
81 200210
62
89
19700779
200808
55
Rooms
197406
Open Date
29
-
24
FINANCIAL ANALYSIS Day of Week and Weekday / Weekend Report
Day of Week Time Period % Chg % Chg % Chg % Chg % Chg % Chg % Chg % Chg % Chg
Sunday Current Month 49.5 17.7 -55.5 279.6 106.5 37.75 -16.6 50.11 -21.7 75.3 6.5 18.67 -23.4 8.86 -65.2 210.7 120.0Year To Date 38.7
-8.10.3 28.1 -18.6 137.5 23.2 37.34 -8.2 54.38 -6.5 68.7 -1.8 14.44 -7.9 15.30 -23.9 94.4 21.1
Running 3 Month 40.6 26.6 -26.0 152.6 29.3 37.26 -9.7 54.17 -7.7 68.8 -2.1 15.11 -13.6 14.39 -31.7 105.0 26.6Running 12 Month 52.8
-4.39.2 44.3 -8.7 119.3 19.6 51.89 -11.2 69.82 -2.1 74.3 -9.3 27.39 -3.0 30.89 -10.5 88.7 8.5
Monday Current Month 45.4 -20.6 19.4 -63.1 233.9 115.0 36.66 -17.8 51.61 -28.5 71.0 14.9 16.63 -34.8 10.01 -73.6 166.1 147.1Year To Date 38.9 -9.8 32.8 -25.2 118.6 20.6 36.24 -11.8 59.29 -9.4 61.1 -2.6 14.11 -20.4 19.46 -32.2 72.5 17.4Running 3 Month 39.9 31.0 -32.3 128.7 23.0 35.69 -14.1 59.03 60.5 -3.3 14.23 -28.5 18.29 -39.8 77.8 18.9Running 12 Month 54.2
-16.82.9 53.6 -6.9 101.0 10.5 52.22 -12.3 78.10
-11.12.5 66.9 -14.4 28.29 -9.7 41.88 -4.5 67.5 -5.4
Tuesday Current Month 46.2 -13.6 21.9 -61.1 210.8 122.0 37.59 -13.4 53.32 -27.2 70.5 18.9 17.37 -25.2 11.68 -71.7 148.7 163.9Year To Date 38.2 -8.8 34.9 -25.4 109.4 22.2 36.95 -9.8 62.89 -6.3 58.8 -3.7 14.10 -17.7 21.94 -30.0 64.3 17.6Running 3 Month 39.5 -17.5 32.8 -35.1 120.6 27.2 36.56 -11.6 61.28 59.7 -1.9 14.46 -27.0 20.09 -41.5 72.0 24.8Running 12 Month 55.9 -0.3 56.5 -8.4 98.9 8.9 52.74 -11.5 79.18
-9.93.4 66.6 -14.4 29.46 -11.7 44.70 -5.3 65.9 -6.8
Wednesday Current Month 47.6 -15.4 23.9 -56.7 198.9 95.6 37.04 -15.5 51.60 -28.2 71.8 17.7 17.64 -28.5 12.35 -68.9 142.8 130.1Year To Date 39.8 -2.6 34.4 -25.4 115.7 30.6 37.19 -6.8 60.69 -5.7 61.3 14.80 -9.2 20.87 -29.6 70.9 29.0Running 3 Month 41.5 33.0 -32.1 125.8 31.0 36.98 -7.9 58.66 63.1
-1.23.6 15.34 -18.1 19.33 -39.7 79.3 35.8
Running 12 Month 57.4-11.1
3.9 58.2 -7.4 98.7 12.3 56.65 -8.6 78.45-11.1
1.8 72.2 -10.2 32.53 -5.0 45.63 -5.7 71.3 0.8
Thursday Current Month 48.5 3.1 24.3 -56.6 199.8 137.4 37.70 -16.5 51.24 -25.7 73.6 12.3 18.27 -13.9 12.43 -67.7 147.0 166.5Year To Date 39.3 8.8 33.1 -26.8 118.4 48.8 37.57 -8.8 57.28 -7.1 65.6 -1.8 14.75 -0.7 18.99 -32.0 77.7 46.1Running 3 Month 41.3 3.9 32.9 -31.1 125.7 50.8 37.31 -10.1 56.78 -9.4 65.7 -0.8 15.41 -6.6 18.66 -37.6 82.6 49.6Running 12 Month 54.6 1.3 54.1 -12.8 100.8 16.1 53.73 -15.4 74.43 -1.2 72.2 -14.4 29.31 -14.3 40.30 -13.8 72.7 -0.6
Friday Current Month 50.3 0.5 19.8 -69.7 253.6 232.1 37.48 -14.1 52.21 -27.0 71.8 17.7 18.84 10.35 -77.9 182.0 290.8Year To Date 45.7 17.8 35.7 -31.7 127.8 72.6 37.85 -7.9 56.87 -9.4 66.6 1.7 17.28
-13.68.6 20.31 -38.1 85.1 75.4
Running 3 Month 45.8 8.5 33.1 -39.3 138.6 78.8 37.33 -9.4 56.02 -11.3 66.6 2.2 17.11 18.52 -46.2 92.4 82.7Running 12 Month 63.4 11.0 59.5 -9.9 106.6 23.2 55.69 -9.7 75.31 -2.8 73.9 -7.1 35.28
-1.70.2 44.77 -12.4 78.8 14.4
Saturday Current Month 53.3 1.6 23.1 -56.6 230.2 133.8 37.29 -18.1 52.38 -15.6 71.2 -3.0 19.86 12.12 -63.3 163.9 126.8Year To Date 46.5 20.1 32.0 -29.5 145.4 70.4 37.26 -11.7 53.89 -6.4 69.1 -5.7 17.34
-16.86.1 17.25 -34.0 100.5 60.8
Running 3 Month 47.2 12.4 31.7 -33.1 148.6 68.0 37.67 -11.5 54.23 -7.8 69.4 -4.0 17.76 17.21 -38.3 103.2 61.3Running 12 Month 64.6 15.1 54.3 -8.4 119.0 25.6 55.26 -8.5 72.53 -1.5 76.2 -7.1 35.69
-0.55.3 39.37 -9.8 90.7 16.8
Weekday Current Month 47.5 -11.6 21.7 -58.4 219.0 112.8 37.36 -15.9 51.61 -26.9 72.4 15.1 17.74 -25.6 11.19 -69.6 158.5 144.9(Sun-Thu) Year To Date 39.0 -2.8 32.7 -24.6 119.2 28.8 37.07 -9.0 59.10 -7.2 62.7 -2.0 14.45 -11.6 19.33 -30.0 74.8 26.2
Running 3 Month 40.6 31.2 -31.5 129.8 31.7 36.77 -10.7 58.12 63.3 -0.6 14.91 -19.5 18.15 -38.5 82.1 30.9Running 12 Month 55.0
-9.83.3 53.3 -8.8 103.0 13.3 53.51 -11.8 76.29
-10.11.1 70.1 -12.7 29.42 -8.9 40.70 -7.9 72.3 -1.1
Weekend Current Month 51.8 1.1 21.5 -63.8 241.0 179.3 37.38 -16.2 52.30 -22.2 71.5 7.8 19.35 11.23 -71.9 172.2 201.1(Fri-Sat) Year To Date 46.1 19.0 33.9 -30.7 136.1 71.7 37.55 -9.8 55.46 -8.1 67.7 -1.9 17.31
-15.37.3 18.78 -36.3 92.2 68.5
Running 3 Month 46.5 10.5 32.4 -36.5 143.7 74.0 37.51 -10.4 55.11 -9.9 68.1 -0.6 17.45 17.84 -42.7 97.8 72.9Running 12 Month 64.0 13.1 56.9 -9.2 112.5 24.5 55.47 -9.1 73.98 -2.2 75.0 -7.0 35.49
-1.02.8 42.07 -11.2 84.3 15.7
Total Current Month 48.6 21.6 -60.0 224.8 129.3 37.37 -15.9 51.79 -25.6 72.1 13.0 18.17 -22.9 11.20 -70.3 162.2 159.1Year To Date 41.0
-8.33.2 33.0 -26.5 124.1 40.3 37.22 -9.2 58.05 -7.3 64.1 -2.0 15.25 -6.3 19.17 -31.8 79.5 37.4
Running 3 Month 42.2 31.5 -33.1 133.8 43.0 36.99 -10.6 57.27 64.6 -0.7 15.62 -14.5 18.07 -39.8 86.4 42.0Running 12 Month 57.5
-4.46.2 54.3 -9.0 105.9 16.6 54.13 -10.9 75.60
-9.90.1 71.6 -11.0 31.15 -5.4 41.09 -8.9 75.8 3.8
Weekday/Weekend
My Property Competitive Set
Occupancy (%) Average Daily Rate RevPAR
My Property Competitive Set Index (MPI)
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2020 STR, LLC / STR Global, Ltd. trading as “STR”. © CoStar Realty Information, Inc.
My Property Index (RGI)Competitive Set Index (ARI)
13
23
33
43
53
Sunday Monday Tuesday Wednesday Thursday Friday Saturday Weekday Weekend
Current Month Occupancy
My Property
Competitive Set
32
37
42
47
52
57
Sunday Monday Tuesday Wednesday Thursday Friday Saturday Weekday Weekend
Current Month ADR
-
25
Daily Data for the Month
We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We Th Fr Sa Su Mo Tu We ThApril
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
My Property 52.2 54.3 51.1 55.4 50.0 44.6 51.1 48.9 45.7 53.3 54.3 52.2 52.2 48.9 47.8 48.9 42.4 47.8 43.5 44.6 42.4 44.6 45.7 54.3 55.4 52.2 40.2 42.4 44.6 47.8
Competitive Set 27.0 22.5 19.6 23.2 17.7 19.4 24.8 23.8 22.2 17.4 20.9 13.9 17.7 16.4 21.5 21.9 21.9 23.2 18.6 19.0 19.6 21.9 25.4 19.1 23.8 19.3 20.3 25.4 23.5 27.3
Index (MPI) 193.2 241.5 260.5 239.4 282.7 229.7 206.3 205.6 205.8 306.7 260.0 374.4 295.0 298.4 222.0 223.7 193.9 206.6 233.1 234.9 216.1 203.8 179.7 284.2 233.0 270.4 198.5 166.9 189.9 175.0
% Chg
My Property -7.7 28.2 2.2 6.3 -4.2 -16.3 -4.1 -11.8 -23.6 -19.7 31.6 60.0 33.3 36.4 18.9 55.2 25.8 0.0 -24.5 -18.0 -15.2 -38.8 -16.0 8.7 -19.0 -28.4 -50.0 -40.9 20.6 -12.0
Competitive Set -53.1 -56.4 -59.9 -43.9 -57.1 -61.6 -54.9 -56.7 -69.2 -81.3 -64.1 -69.3 -62.4 -68.6 -58.9 -58.1 -62.8 -55.9 -36.8 -65.6 -61.2 -61.2 -46.6 -68.9 -61.1 -55.0 -66.1 -64.8 -65.8 -58.3
Index (MPI) 97.0 194.1 154.8 89.3 123.6 118.0 112.8 103.7 148.3 329.8 266.4 420.8 254.3 334.1 189.6 270.4 238.0 126.6 19.4 138.6 118.5 57.5 57.2 249.4 108.2 59.3 47.7 67.8 252.3 111.1
April
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
My Property 37.01 36.56 36.05 36.81 36.61 35.44 36.50 36.66 35.34 36.82 37.35 37.09 36.54 37.18 37.48 38.41 37.57 38.53 37.71 36.83 38.17 34.60 38.09 39.39 36.65 39.53 37.97 38.81 39.48 40.14
Competitive Set 52.79 53.49 52.25 51.58 49.30 47.09 53.62 49.75 49.54 47.61 53.60 46.72 49.13 55.51 51.56 49.72 56.80 52.46 53.24 52.61 51.05 50.00 49.79 51.25 52.17 50.40 57.33 53.50 53.84 53.52
Index (ARI) 70.1 68.4 69.0 71.4 74.3 75.2 68.1 73.7 71.3 77.3 69.7 79.4 74.4 67.0 72.7 77.3 66.1 73.4 70.8 70.0 74.8 69.2 76.5 76.9 70.3 78.4 66.2 72.5 73.3 75.0
% Chg
My Property -6.4 -19.5 -16.2 -16.8 -10.1 -9.2 -5.1 -8.3 -15.2 -16.4 -15.3 -10.8 -21.3 -20.4 -23.7 -23.4 -10.0 -22.3 -21.6 -20.6 -13.8 -26.7 -17.1 -12.3 -17.6 -17.6 -24.8 -21.8 -25.9 -23.3
Competitive Set -20.1 -22.0 -15.0 -5.5 -22.9 -43.7 -37.2 -35.1 -31.1 -45.1 -17.7 -26.9 -30.3 -29.5 -29.6 -27.1 -8.4 -17.4 -17.2 -22.1 -28.2 -30.2 -24.1 -21.5 -17.0 -21.1 -17.3 -21.3 -21.8 -18.0
Index (ARI) 17.1 3.2 -1.5 -12.0 16.5 61.4 51.2 41.4 23.0 52.5 2.9 22.0 12.9 13.0 8.4 5.1 -1.7 -6.0 -5.2 2.0 20.1 5.0 9.3 11.8 -0.8 4.5 -9.1 -0.5 -5.3 -6.4
April
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
My Property 19.31 19.87 18.42 20.41 18.31 15.79 18.65 17.93 16.13 19.61 20.30 19.35 19.06 18.18 17.92 18.79 15.93 18.43 16.40 16.41 16.18 15.42 17.39 21.41 20.32 20.63 15.27 16.45 17.59 19.20
Competitive Set 14.26 12.04 10.25 11.94 8.72 9.14 13.28 11.84 10.99 8.27 11.20 6.51 8.69 9.10 11.11 10.87 12.42 12.14 9.93 9.98 10.01 10.93 12.65 9.80 12.41 9.72 11.61 13.59 12.64 14.63
Index (RGI) 135.4 165.0 179.7 170.9 210.0 172.9 140.5 151.5 146.8 237.2 181.2 297.3 219.4 199.8 161.4 172.8 128.2 151.7 165.1 164.5 161.6 141.0 137.5 218.4 163.7 212.1 131.5 121.1 139.2 131.2
% Chg
My Property -13.6 3.2 -14.4 -11.6 -13.9 -24.0 -9.0 -19.1 -35.3 -32.8 11.4 42.7 4.9 8.6 -9.3 18.9 13.2 -22.3 -40.8 -34.9 -26.9 -55.1 -30.3 -4.6 -33.3 -40.9 -62.4 -53.8 -10.6 -32.5
Competitive Set -62.6 -66.0 -65.9 -47.0 -66.9 -78.4 -71.7 -71.9 -78.8 -89.7 -70.4 -77.5 -73.8 -77.9 -71.1 -69.5 -65.9 -63.5 -47.7 -73.2 -72.1 -72.9 -59.5 -75.6 -67.7 -64.5 -72.0 -72.3 -73.2 -65.8
Index (RGI) 130.7 203.5 151.0 66.6 160.5 251.9 221.7 188.0 205.3 555.2 276.9 535.5 300.0 390.3 214.0 289.4 232.2 113.0 13.2 143.2 162.3 65.4 71.8 290.6 106.5 66.4 34.2 66.9 233.8 97.6
This STR Report is a publication of STR, LLC and STR Global, Ltd., CoStar Group companies, and is intended solely for use by paid subscribers. The information in the STR Report is provided on an “as is” and “as available” basis and should not be construed as investment, tax, accounting or legal advice. Reproduction or distribution of this STR Report, in whole or part, without written permission is prohibited and subject to legal action. If you have received this report and are NOT a subscriber to this STR Report, please contact us immediately. Source: 2020 STR, LLC / STR Global, Ltd. trading as “STR”. © CoStar Realty Information, Inc.
ADR
RevPAR
Occupancy (%)
61
111
161
211
261
311
361
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
Daily Indexes for the Month of April
Occupancy Index (MPI) ADR Index (ARI) RevPAR Index (RGI) 100 %
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26
FINANCIAL ANALYSIS
HISTORICAL P&L
2018 2019
Rooms 92 92
Available Rooms 33,580 33,580
Rooms Sold 16,219 19,141
Occupancy 48.3% 57.0%
ADR $63.66 $55.15
RevPAR $30.75 $31.44
Revenue/Room $12,540 $12,829
Income
Room Revenue 1,006,615 87.3% $1,048,556 88.8%
Lounge $64,491 5.6% $59,690 5.1%
Restaurant Lease $72,000 6.2% $72,000 6.1%
Other Income - Misc. $10,597 0.9% $0 0.0%
Total Revenue $1,153,703 100.0% $1,180,246 100.0%
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27
2018 2019Departmental Expenses
Rooms $295,444 25.6% $326,271 27.6%
Food & Beverage $0 0.0% $0 0.0%
Other Operated Depts & Rentals $187,457 16.2% $50,687 4.3%
Total Departmental Expenses $482,901 41.9% $376,958 31.9%
Gross Operating Income $1,358,018 57.9% $1,387,889 57.9%
Undistributed Operating ExpensesAdministration & General $62,305 5.4% $49,963 4.2%
Marketing $3,096 0.3% $0 0.0%
Franchise Fees $50,000 4.3% $39,212 3.3%
Utility Costs $22,561 2.0% $39,129 3.3%
Property Operations & Maintenance $59,605 5.2% $21,453 1.8%
Total Undistributed Operating Expenses $197,567 17.1% $149,757 12.7%
Gross Operating Profit $473,235 41.0% $653,531 55.4%
Fixed ExpensesProperty Taxes $23,280 2.0% $25,716 2.2%
Insurance $687 0.1% $6,153 0.5%
Total Fixed Charges $23,967 2.1% $31,869 2.7%
Total Expenses $704,435 61.1% $558,584 47.3%
Amount Available for Debt Service & Other Fixed Charges
$449,268 38.9% $621,662 52.7%
Capital Replacement Reserve $30,198 2.6% $31,457 2.7%
Management Fee $32,000 2.8% $32,000 2.7%
Net Operating Income (EBITDA) $387,070 33.6% $558,205 47.3%
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28
FINANCIAL ANALYSIS
5 YEAR PROFORMA
2019 Year 1 Year 2 Year 3 Year 4 Year 5
Rooms 92 92 92 92 92 92
Available Rooms 33,580 33,580 33,580 33,580 33,580 33,580
Rooms Sold 19,443 18,471 19,210 19,786 20,182 20,585
Occupancy 57.9% 55.0% 57.2% 58.9% 60.1% 61.3%
ADR $55.00 $51.15 $53.71 $55.32 $56.43 $57.55
RevPAR $31.85 $28.14 $30.72 $32.59 $33.91 $35.28
Revenue / Room $12,829 $11,704 $12,747 $13,495 $13,982 $14,485
Income
Room Revenue $1,048,556 88.8% $944,775 87.7% $1,031,695 88.0% $1,094,525 88.2% $1,138,744 88.5% $1,184,749 88.9%
F&B Revenue $59,690 5.1% $54,000 5.0% $60,000 5.1% $63,000 5.1% $63,600 4.9% $63,900 4.8%
Events & Catering $72,000 6.1% $72,000 6.7% $72,000 6.1% $72,000 5.8% $72,000 5.6% $72,000 5.4%
Other Dept Rentals / Misc
$0 0.0% $6,000 0.6% $9,000 0.8% $12,000 1.0% $12,000 0.9% $12,000 0.9%
Total Revenue $1,180,246 100.0% $1,076,775 100.0% $1,172,695 100.0% $1,241,525 100.0% $1,286,344 100.0% $1,403,326 100.0%
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29
2019 Proforma Year1 Year2 Year 3 Year 4 Year 5Departmental Expenses
Rooms $326,271 27.6% $258,590 24.0% $270,854 23.1% $280,958 22.6% $292,632 22.7% $308,777 23.2%
Food & Beverage $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0% $0 0.0%
Other Operated Depts & Rentals
$50,687 4.3% $46,177 4.3% $50,905 4.3% $54,411 4.4% $55,499 4.3% $56,609 4.2%
Total Departmental Expenses $376,958 31.9% $304,766 28.3% $321,759 27,4% $335,369 27.0% $348,131 27.1% $365,386 27.4%
Gross Operating Income $803,288 68.1% $772,009 71.7% $850,935 72.6% $906,156 72.6% $938,213 72.9% $967,263 72.6%
Undistributed Operating ExpensesAdministration & General $49,963 4.2% $46,800 4.3% $51,660 4.4% $51,720 4.2% $51,780 4.0% $51,840 3.9%
Marketing $0 0.0% $6,000 0.6% $6,000 0.5% $6,000 0.5% $6,000 0.5% $6,000 0.5%
Franchise Fees $39,212 3.3% $37,791 3.5% $41,268 3.5% $43,781 3.5% $45,550 3.5% $47,390 3.6%
Utility Costs $39,129 3.3% $32,324 3.0% $34,577 2.9% $36,604 2.9% $38,345 3.0% $40,141 3.0%
Property Operations & Maintenance
$21,453 1.8% $36,941 3.4% $43,221 3.7% $45,507 3.7% $47,427 3.7% $49,404 3.7%
Total Undistributed Operating Expenses
$149,757 12.7% $159,856 14.8% $176,726 15.1% $183,612 14.8% $189,101 14.7% $194,775 14.6%
Gross Operating Profit $653,531 55.4% $612,153 56.9% $674,209 57.5% $722,544 58.2% $749,111 58.2% $772,487 58.0%
Fixed ExpensesProperty Taxes $25,716 2.2% $27,000 2.2% $27,000 2.3% $27,000 2.2% $27,000 2.1% $27,000 2.0%
Insurance $6,153 0.5% $6,600 0.6% $6,600 0.6% $6,600 0.5% $6,600 0.5% $6,600 0.5%
Total Fixed Charges $31,869 2.7% $33,600 3.1% $33,600 2.9% $33,600 2.7% $33,600 2.6% $33,600 2.5%
Total Expenses $558,584 47.3% $498,222 46.3% $532,086 45.4% $552,581 44.5% $570,832 44.4% $593,761 44.6%
Amount Available for Debt Service & Other Fixed Charges
$621,662 52.7% $578,553 53.7% $640,609 54.6% $688,944 55.5% $715,511 55.6% $738,887 55.4%
Capital Replacement Reserve
$31,457 2.7% $43,071 4.0% $46,908 4.0% $49,661 4.0% $51,454 4.0% $53,306 4.0%
Management Fee $32,000 2.7% $32,303 3.0% $35,181 3.0% $37,246 3.0% $38,590 3.0% $39,979 3.0%
Net Operating Income (EBITDA)
$558,205 47.3% $503,179 46.7% $558,520 47.6% $602,037 48.5% $625,467 48.6% $645,602 48.4%
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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ECONO LODGE | IDAHO FALLS
31
MARKET COMPETITORS
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32
MARKET COMPETITORS
Address Sale Price Price Per Room Number of Keys Sale Date
TownePlace Suites | Marriot2376 Via Caporatti DrPocatello, ID 83201
$10,400,000 $111,827 93 12/13/13
AmeriTel Inn1440 Bench RdPocatello, ID 83201
$9,719,379 $65,671 148 8/6/12
Best Western1415 Bench RdPocatello, ID 83201
$7,800,000 $52,348 149 11/17/16
Clarion Inn1399 Bench RdPocatello, ID 83201
$7,300,000 $37,244.89 196 8/26/19
Red Lion Hotel | Pocatello(Part of Portfolio)1555 Pocatello Creek RdPocatello, ID 83201
$7,090,484 $47,269 150 7/31/98
Clarion Inn1399 Bench RdPocatello, ID 83201
$6,250,000 $31,887 196 8/17/17
Best Western1415 Bench RdPocatello, ID 83201
$5,600,000 $37,583 149 10/27/13
Ramada Inn133 W Burnside AvePocatello, ID 83201
$4,160,000 $35,862 116 9/20/07
Averages: $7,289,983 $52,461 - -
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CENSUS/SAMPLE - PROPERTIES & ROOMS PIPELINE
CENSUS SAMPLE SAMPLE % MARKET: Idaho
Properties Rooms Properties Rooms Rooms UNDER CONSTRUCTION PLANNING
Market: Idaho 351 24,578 189 18,099 73.6 Properties Rooms Properties Rooms
Market Class: Upper Midscale Class
94 8,745 81 8,158 93.3 6 572 22 2,030
Submarket: Idaho South Area
137 9,229 73 6,628 71.8
Submarket Scale: Midscale Chains
49 4,494 46 4,321 96.2
Competitive Set: Competitors 5 593 5 593 100.0
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MARKET COMPETITORS
Address:Red Lion Hotel | Pocatello1555 Pocatello Creek Rd
Pocatello, ID 83201
Sale Price $6,400,000
Price Per Room $42,667
Number of Keys 150
Sale Date -
Address:TownePlace Suites | Marriot
2376 Via Caporatti DrPocatello, ID 83201
Sale Price $10,400,000
Price Per Room $111,827
Number of Keys 93
Sale Date 12/13/13
Address:AmeriTel Inn
1440 Bench RdPocatello, ID 83201
Sale Price $9,719,379
Price Per Room $65,671
Number of Keys 148
Sale Date 8/6/12
Subject Property
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Address:Best Western
1415 Bench RdPocatello, ID 83201
Sale Price $7,800,000
Price Per Room $52,348
Number of Keys 149
Sale Date 11/17/16
Address:Clarion Inn
1399 Bench RdPocatello, ID 83201
Sale Price $7,300,000
Price Per Room $37,244.89
Number of Keys 196
Sale Date 8/26/19
Address:
Red Lion Hotel | Pocatello(Part of Portfolio)
1555 Pocatello Creek RdPocatello, ID 83201
Sale Price $7,090,484
Price Per Room $47,269
Number of Keys 150
Sale Date 7/31/98
Subject Property
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MARKET COMPETITORS
Address:Best Western
1415 Bench RdPocatello, ID 83201
Sale Price $5,600,000
Price Per Room $37,583
Number of Keys 149
Sale Date 10/27/13
Address:Clarion Inn
1399 Bench RdPocatello, ID 83201
Sale Price $6,250,000
Price Per Room $31,887
Number of Keys 196
Sale Date 8/17/17
Address:Ramada Inn
133 W Burnside AvePocatello, ID 83201
Sale Price $4,160,000
Price Per Room $35,862
Number of Keys 116
Sale Date 9/20/07
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, as-sumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate
Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2017 Marcus & Millichap ACT ID Z0000000
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ECONO LODGE | IDAHO FALLS
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MARKET OVERVIEW
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MARKET OVERVIEW
NORTHWEST
Smaller Markets Drive Regional Gains; Property Values Climb to Record Levels
Hotel demand heightens in the Rocky Mountains and Great Plains while supply pressure persists in the region’s primary metros. The Northwest recorded sizable ADR and RevPAR growth from 2011 to 2017 as hotel demand significantly escalated in the region. While gains have moderated since, daily rates and hotel performance metrics sat at historically high levels entering 2020, supported by improving annual occupancy rates in four of the region’s five states in 2019. During that 12-month span, Wyoming recorded a 510-basis-point jump, while annual occupancy dipped slightly in Washington as increased construction activity weighed on demand. Similar conditions are projected for this year as Seattle and Portland continue to be impacted by new supply, with 3.8 percent and 5.9 percent of each metro’s inventory underway, respectively. Heightened development in these markets will impact hotel performance in Washington and Oregon, yet occupancy and RevPAR in the Northwest will improve, as increased traffic to national parks and ski resorts in Wyoming, Montana, and Idaho bolster regional fundamentals.
Buyer pool expands as double-digit returns and solid fundamentals drive deal flow. Heightened investor competition for independent and limited service hotels in rural locales and larger cities has positively impacted asset values, with average pricing in the region up by nearly 20 percent over the past year. While property valuations have risen rapidly, hotels with less than 100 rooms remain available for $1 million to $3 million in Idaho, Montana, and Wyoming. Here, lodging facilities near recreational activities, colleges, and major transportations routes provide buyers with 12 percent-plus yields. Buyers seeking a greater mix of property types in more urban areas comb the Seattle and Portland metros, accepting cap rates in the high-4 and mid-5 percent range for limited and select service assets.
States: Idaho, Montana, Oregon, Washington, Wyoming
2020 Demand Growth2.5% Year-Over-Year Room Nights
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NORTHWEST
2020 REGIONAL HIGHLIGHTS
2.6%100bps11%
Percent of Inventory Under construction as of December 2019
• In June, British Airways will offer nonstop flights from London toPortland five days a week. These arrivals should increase the metro’sinternational visitor count, aiding local hotels.
• The Port of Seattle extended its 2020 cruise season from April 1 toOctober 19. As part of this expansion, Norwegian Cruise Line willbring a third ship, the Norwegian Sun, to the port. The vessel will sail11-day Alaskan cruises, bringing additional visitors to the city.
• Rapid population growth and the proximity to luxury ski resortsand Yellowstone National Park has triggered an uptick in Bozeman,Montana, hotel development. Marriott, Residence Inn and Hilton areeach constructing or planning properties in the city.
• A 1.4 million-square-foot expansion of the Washington StateConvention Center in Seattle is underway and estimated to becompleted before the end of 2021.
Five-Year Occupancy Growth 2015-2020
Five-Year RevPAR Growth
* 2019 = recent openings; 2020 = under construction as of December 2019Sources: CoStar Group, Inc.; STR, Inc.; Real Capital Analytics
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NORTHWEST
MARKET OVERVIEW
2020 REGION FORECAST
More than 7,300 rooms are under construction throughout the region and an additional 10,500 rooms are expected to break ground within the next 12 months. Roughly 55 percent of the rooms currently underway are in either the Seattle or Portland metros.
Supplyup 1.7%
Occupancyup to 50 bps
ADR down 0.3%
RevPARup 0.4%
Investment
Following a 70-basis-point increase last year, annual occupancy in the Northwest climbs to 65.4 percent in 2020.
The average daily rate adjusts nominally for a third straight year, dipping to $121.81. In 2019, a rise of 0.4 percent was recorded.
Steady improvements in occupancy and a stable average daily rate will lift RevPAR to $81.63. This slight uptick will trail last year’s gain of 1.2 percent.
Montana’s Glacier Park International Airport recorded a 15 percent rise in passengers last year, warranting the $100 million terminal expansion slated to break ground in 2020. Future increases in flights and passenger numbers should heighten investor competition for smaller hotels along Highway 93. * Forecast
Sources: CoStar Group, Inc.; STR, Inc.; Real Capital Analytics
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CREATED IN JULY 2019
DEMOGRAPHICS
Population 1 Mile 3 Mile 5 Mile2023 Projection
Total Population 12,014 62,057 105,166
2018 Estimate
Total Population 12,079 59,738 97,465
2010 Census
Total Population 11,676 55,907 89,062
2000 Census
Total Population 11,786 50,593 71,073
Daytime Population
2018 Estimates 18,911 92,984 124,194
Households 1 Miles 3 Miles 5 Miles2023 Projection
Total Households 4,732 23,944 38,105
2018 Estimate
Total Households 4,679 22,670 34,740
Average (Mean) Household Size 2.43 2.60 2.77
2010 Census
Total Households 4,480 21,117 31,737
2000 Census
Total Households 4,486 18,901 25,181
Housing Units 1 Miles 3 Miles 5 MilesOccupied Units
2023 Projects 4,732 23,944 38,105
2018 Estimate 4,953 23,694 36,265
Households by Income 1 Mile 3 Mile 5 Mile2018 Estimate
$200,000 or More 1.45% 3.57% 4.00%
$150,000 - $199,000 1.32% 3.84% 4.03%
$100,000 - $149,000 6.52% 12.82% 14.31%
$75,000 - $99,999 10.18% 14.27% 15.57%
$50,000 - $74,999 17.22% 19.02% 20.36%
$35,000 - $49,999 17.38% 14.02% 13.46%
$25,000 - $34,999 14.30% 10.99% 9.72%
$15,000 - $24,999 14.62% 10.34% 8.98%
Under $15,000 17.00% 11.11% 9.58*
Average Household Income $50,648 $72,884 $77,658
Median Household Income $37,546 $54,503 $59,957
Per Capita Income $20,312 $27,935 $27,883
Population Profile 1 Mile 3 Mile 5 MilePopulation 25+ by Education Level
2018 Estimate Population Age 25+ 7,477 37,008 58,660
Elementary (0-8) 2.94% 2.07% 2.07%
Some High School (9-11) 10.53% 6.73% 6.01%
High School Graduate (12) 36.72% 27.79% 26.99%
Some College (13-15) 24.81% 25.91% 25.72%
Associate Degree Only 7.45% 9.21% 9.64%
Bachelors Degree Only 11.76% 18.07% 19.53%
Graduate Degree 3.99% 8.98% 9.01%
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DEMOGRAPHICS
POPULATIONIn 2019, the population in your selected geography is 12,079. The population has changed by 2.49% since 2000. It is estimated that the population in your area will be 12,014.00 five years from now, which represents a change of -0.54% from the current year. The current population is 50.70% male and 49.30% female. The median age of the population in your area is 31.08, compare this to the US average which is 37.95. The population density in your area is 3,835.92 people per square mile.
RACE & ETHNICITYThe current year racial makeup of your selected area is as follows: 83.48% White, 1.05% Black, 0.19% Native American and 0.41% Asian/Pacific Islander. Compare these to US averages which are: 70.20% White, 12.89% Black, 0.19% Native American and 5.59% Asian/Pacific Islander. People of Hispanic origin are counted independently of race.
People of Hispanic origin make up 21.23% of the current year population in your selected area. Compare this to the US average of 18.01%.
HOUSEHOLDSThere are currently 4,679 households in your selected geography. The number of households has changed by 4.30% since 2000. It is estimated that the number of households in your area will be 4,732 five years from now, which represents a change of 1.13% from the current year. The average household size in your area is 2.43 persons.
INCOMEIn 2019, the median household income for your selected geography is $37,546, compare this to the US average which is currently $58,754. The median household income for your area has changed by 35.26% since 2000. It is estimated that the median household income in your area will be $42,932 five years from now, which represents a change of 14.35% from the current year.
The current year per capita income in your area is $20,312, compare this to the US average, which is $32,356. The current year average household income in your area is $50,648, compare this to the US average which is $84,609.
EMPLOYMENTIn 2019, there are 5,688 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 52.74% of employees are employed in white-collar occupations in this geography, and 48.11% are employed in blue-collar occupations. In 2019, unemployment in this area is 5.35%. In 2000, the average time traveled to work was 18.00 minutes.
HOUSINGThe median housing value in your area was $115,446 in 2019, compare this to the US average of $201,842. In 2000, there were 2,627 owner occupied housing units in your area and there were 1,859 renter occupied housing units in your area. The median rent at the time was $367.
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ECONO LODGE | IDAHO FALLS
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ECONO LODGE | IDAHO FALLS888 N HOLMES AVE | IDAHO FALLS, ID 83401
PRESENTED BYEddy NevarezAssociate DirectorNational Hospitality GroupCell: 818.339.6506Office: 818.212.2690Fax: [email protected] License: CA 01960485www.marcusmillichap.com