La Quinta Inn & Suites by Wyndham DC Metro 55 Hampton Park Blvd Services hôteliers 174 chambres À vendre Capitol Heights, MD 20743

Property listed by Matthew Gannon | Maryland Broker of Record | License Number: 5005865
Property tours are by APPOINTMENT ONLY. Any attempts to visit/contact property without agent approval will result in a ban from all future listings! Prospective buyers can view financial history including revenue, NOI, ADR, and Occupancy by clicking "Download OM" and signing a confidentiality agreement. This property is currently listed as unpriced. Ownership will review and respond to all offers and ultimately select the offer with the best price and terms.
Colliers, as an exclusive representative of the seller, is pleased to present to qualified investors the La Quinta Inn & Suites by Wyndham DC Metro Capital Beltway, located at 55 Hampton Park Blvd, Capitol Heights, MD 20743. The subject property is a 174-room, 6-story, interior-corridor, limited-service asset located at the intersection of Interstate 495 (225,351 Vehicles Per Day) and Route 214/Central Ave (53,460 Vehicles Per Day). The property, built in 1983, sits on 2.88 acres of land and is offered with fee-simple interest, unencumbered by debt, and unencumbered by third-party management. The hotel is conveniently located in Capitol Heights, Maryland, equidistance from Washington, DC (11 miles) and College Park, Maryland (17 miles) offering opportunities for overflow tourism, regional events, and business ties, further contributing to the hotel’s guest base.
A prospective purchaser may have the opportunity to retain the La Quinta Inn & Suites by Wyndham franchise upon application and approval by Wyndham Hotels & Resorts. The current franchise agreement was signed by existing ownership on March 30th, 2023, and expires twenty years after the effective date of the contract. It is likely that a prospective purchaser will be able to relicense the La Quinta Inn & Suites franchise with Wyndham upon the completion of a change-in-ownership PIP. A PIP for the property was ordered in 2022 prior to the existing owner taking ownership of the property. Upon taking over the property is 2023, existing ownership made some progress towards the PIP including: repairs to the elevator cabinets, new swimming pool furniture, painting of the pool area, repairs to the pool pump and pool area dehumidifier, and painting/replastering the pool where necessary. Ownership has also already ordered new LVT flooring for all guest rooms in the hotel, and is in possession of three shipping containers full of LVT flooring which may be installed or credited to a purchaser at or prior to closing. Approximately a dozen guest rooms have already had their carpet replaced with the new LVT flooring. A recent PIP has not yet been ordered. It is expected that a prospective purchaser’s PIP will not be identical to existing ownership’s PIP from 2022. However, it is possible that Wyndham may incentivize a purchaser to complete a new PIP prototype and retain the La Quinta Inn & Suites franchise by offering a prospective purchaser key money or other monetary benefits.
The offering presents an opportunity for investors to acquire an asset with operational and market upside in one of Maryland’s premiere markets in immediate proximity to the nation’s capital. For reference, the hotel achieved a RevPAR of $50.82 in 2022, translating to a RevPAR Penetration Index of 91%. In 2023, the hotel achieved a RevPAR of $55.37, translating to a RevPAR Penetration Index of 90%. Lastly, in December 2024, the hotel achieved a RevPAR of $59.50, translating to a RevPAR Penetration index of 94%. This is versus a competitive set of Best Western Capital Beltway Washington DC, Comfort Inn Largo, Extended Stay America Washington DC – Landover, Hampton by Hilton Inn & Suites Glenarden/Washington DC, and WoodSpring Suites Washington DC East Arena Drive. It is reasonable to forecast that upon a prospective purchaser taking ownership of the asset and completing a new change-in-ownership PIP, the asset’s performance could reach or exceed a RevPAR penetration index of 100%. The hotel also includes a vacant restaurant space which can be re-opened or leased out by a prospective purchaser to contribute additional flowthrough to the net operating income.