Description

JLL’s Hotels & Hospitality Group is pleased to offer for sale the lease hold interest in the 94-room Holiday Inn Express & Suites Cherokee/Casino by IHG (the “Hotel”) located in Cherokee, North Carolina. The Hotel, which is historically ranked #1 in RevPAR for its competitive, has just completed a renovation and is strategically located across the street from the Harrah’s Cherokee Casino.

This offering represents an exceptional opportunity to acquire a recently renovated institutional quality, premium branded hotel with impressive positioning at the top of its competitive set and significant upside as it stabilizes post renovation. The Hotel, which is being offered at a significant discount to replacement cost, is being presented unencumbered of management and debt.

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Attributes

Number of units

Year built

2005

Building area net

4,459 m²

Media

Investment Highlights

Newly renovated product
Impressive RevPAR positioning and strong NOI margin with extensive upside potential
Direct proximity to Harrah's Cherokee Casino Resort, a significant demand driver, and The Cherokee Convention Center
Best-in-class brand and distribution platform
Prime gateway location to Great Smoky Mountains National Park and Cherokee Cultural Heritage