Courtyard by Marriott Reno

6855 South Virginia Street, Reno, NV, 89511, US

묘사

Jones Lang LaSalle Brokerage, Inc. ("JLL"), a licensed real estate broker, is pleased to offer exclusively for sale the fee-simple interest in the Courtyard by Marriott Reno. The 117-key Hotel is offered unencumbered of management and is strategically positioned 10 minutes from the Reno-Tahoe International Airport. The Hotel captures robust demand from its proximity to downtown Reno's Riverwalk District and Lake Tahoe, benefiting from a diverse mix of leisure travelers, corporate guests, and group business. Downtown Reno's ongoing revitalization has transformed the Riverwalk District into a vibrant entertainment and dining destination. The Property also serves as an ideal base for tourists accessing Lake Tahoe's world-class skiing, outdoor recreation, and scenic attractions. The Hotel represents an opportunity to acquire a well-positioned Asset with significant upside potential in a desirable year-round destination market.

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개요

단위 수

117

건축년도

2001

건물 면적 순

5,897 제곱미터

토지 총면적

0.98 헥타르

미디어

투자 하이라이트

Complete Operational Flexibility

The Hotel is offered unencumbered of management, enabling a new owner to implement their preferred business plan and investment approach. The Property is currently managed by Sandpiper Hospitality, an institutional operator specializing in the select-service and extended-stay segment that has consistently delivered superior performance metrics across their portfolio. Current management can be renewed at the discretion of a new investor.

Strategic Year-Round Destination Market Position

The Hotel benefits from a strategic location that captures year-round visitation patterns with distinct peaks during the summer months and winter ski season. The Property's proximity to Lake Tahoe drives significant leisure demand as guests access world-renowned ski resorts and an array of premier outdoor recreation activities including hiking, boating, fishing, cycling, golfing, camping, and wildlife viewing. Downtown Reno's Riverwalk District has transformed into a dynamic mixed-use destination featuring casinos, entertainment venues, restaurants, and festivals, while attracting growing corporate demand. The Hotel's 10-minute drive to Reno-Tahoe International Airport further enhances its appeal to both corporate travelers and group business.

Select-Service Segment Captures Growing Market Share

Select-service and extended-stay hotels are exhibiting robust performance with RevPAR reaching $75 in 2025, and demand projected to increase by over 20 million in 2026. These properties cater to evolved traveler preferences for longer stays, remote work, and work-life balance by offering amenities like business centers and recreational spaces. This evolution has diversified the select service customer base, attracting leisure, business, and “bleisure” travelers. The select service sector has rebounded strongly since 2020. Room night demand is projected to reach nearly 1.0 billion by 2026, representing a 41% increase from 2020 levels and 16% above the long-term pre-covid average (2000-2019). This surge in demand, coupled with the sector's adaptability to changing consumer needs, positions the Hotel for continued growth in the coming years.

Strong In-Place Cash Flow

The Courtyard Reno delivers strong in-place cash flow, consistently ranking as the number one Hotel in the competitive set. As of 2025, the Hotel achieved 80.4% occupancy and an ADR of $164, producing a RevPAR of $132 and corresponding room revenue of $5.6 million. After accounting for a 4.0% FF&E reserve, the Property generated a NOI of $1.9 million, representing a 33.0% NOI margin. The Hotel's proven operational efficiency, competitive positioning, and consistent revenue performance create a turnkey opportunity with immediate cash flow and potential for value enhancement.

Marriott Brand Affiliation

The Courtyard by Marriott brand affiliation provides strong market recognition and access to Marriott's extensive global distribution system and loyalty program. This partnership connects the Property to Marriott Bonvoy, a network of approximately 237 million members worldwide, providing a competitive advantage in guest acquisition and retention. The loyal customer base drives consistent occupancy and revenue while reducing reliance on third-party booking platforms and associated commission costs. The Courtyard brand's strong recognition and Marriott's global marketing infrastructure ensure sustained demand and operational efficiency for the Hotel.