Home2 Suites by Hilton Charlotte Uptown

610 South Caldwell Street, Charlotte, NC, 28202, US

Description

JLL’s Hotels & Hospitality Group, as sole and exclusive agent for the owner, has been retained to offer for sale the fee simple interest in the 181-room Home2 Suites Charlotte Uptown (the “Hotel”, “Home2 Suites”, or “Property”). This institutionally-owned Hotel is located in one of the hottest submarkets in the Southeast. As the second largest banking center in the country, the Charlotte CBD is home to Fortune 500 companies Bank of America, Truist Financial, and Duke Energy. Moreover, the submarket is home to major sports related leisure demand such as the NASCAR Hall of Fame, Bank of America Stadium (home of the Carolina Panthers), and the Spectrum Center (home of the Charlotte Hornets). Additionally, the freshly renovated 280,000 SF Charlotte Convention Center is just steps from the Hotel. The Uptown and South End development pipeline includes over $3.7B of new development under construction and forecasted to break ground by year end 2026.

The Home2 Suites benefits from its convenient location in Uptown, across I-277 from one of the hottest submarkets in the southeast, South End. Offered unencumbered of management, a new owner will have the opportunity to implement their own cost-savings initiatives, and curate an aggressive sales and marketing campaign, while focusing on a sound revenue management strategy. Moreover, the Hotel has averaged around 42.5% NOI margin since 2022 with room to grow. The Hotel is due for its seven-year PIP cycle, which a new owner can oversee to help further drive the Hotel’s top- and bottom-line performance. The offering allows a new Owner the opportunity to acquire a cash-flowing, premium-branded Hotel in one of the most desirable markets in the Southeast at a discount to replacement cost.

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Caractéristiques de l'actif

Nombre d'unités

181

Année de construction

2019

Surface de l'actif Net

2 400 m²

Taille du terrain Brut

0,24 hectare

Média

Points clés d'investissement

Exceptional Location in a High Growth Market – The Hotel sits within a short walking distance to a diverse set of demand generators, including the recently renovated 280,000 SF Charlotte Convention Center, multiple Fortune 500 Headquarters and regional offices, and multiple sports-related leisure demand. Moreover, the CBD continues to see exceptional economic growth with over $3.7B of new development under construction and/ or set to break ground by end of 2026.
Strong Cash Flowing Hotel With Room to Grow – The Hotel has proved to be operationally efficient, with current management averaging a 42.5% NOI margin since 2022. The Hotel is due for its seven-year PIP cycle, which upon completion, should result in an immediate lift in top-line performance. A new owner stands to benefit from acquiring a cash-flowing Hotel at acquisition, with numerous opportunities to boost top line revenue and bottom line margin
Offered Unencumbered of Management - The Hotel is being offered unencumbered of management, presenting a new owner the flexibility to implement their own revenue management strategies and cost containment initiatives to maximize top-line revenues and bottom-line cash flows.
Highly Desirable Brand Affiliation - The Property benefits from the popular Hilton brand affiliation. Hilton Worldwide is one of the largest owners, operators and franchisors of hotels with 23 brands, 7,600 properties, and nearly 1.2 million rooms across the world. The company’s Hilton Honors guest loyalty program maintains widespread public recognition and customer loyalty, all of which directly benefits the Hotel.
Fee Simple Hotel Offering - The Hotel presents an opportunity to acquire a well-branded, select-service asset as fee simple. Within Charlotte CBD Submarket, the high land cost, entitlement process, lack of developable land, and lack of developable land make it difficult for new developers to bring comparable properties into the market.