The Red Roof Inn is a 53-unit, two-story hotel with interior corridors, situated in Greene County, Springfield, Missouri. Located just a few miles from Missouri State University and Springfield Branson National Airport, the hotel is a perfect opportunity for an owner operator. Built in 1997 and recently updated, it boasts a modern design and offers competitive pricing for investors.
Springfield is experiencing growth and is the largest metro area in Missouri, attracting developers in housing, commercial, and industrial sectors. The city has a wide range of demand generators, including three major universities, science museums, a fairgrounds and events center, parks, and remarkable caverns. The hotel is conveniently located near numerous corporations that provide year-round job opportunities.
Revenues have been steady despite absentee ownership, with potential for further upside with an on-site manager. There is an ability to convert 1 or 2 rooms to be a manager's apartment onsite as well.
The Owner has completed numerous upgrades to the property, including the replacement of curtains, beds, locks, and TVs within the last 3 years with nothing currently required of him to renovate. The Seller anticipates a minimal PIP for the next owner. The hotel is in excellent condition.