-Dominating Supply Within the Market: The Hotel represents 51% of room supply in the surrounding 5 miles.
- Improving Property Performance: The Hotel has improving property performance YoY and has increased NOI more than 43% from 2022 to 2023. A new owner can recognize additional upside potential by capitalizing on the property’s 88% RevPAR index against its competitive set.
-Potential RevPAR Upside: A new Owner may have the opportunity to renovate select portions of the Hotel thereby enabling ADR growth vis-a-vis its competitive supply.
-Central Location in the San Juan Basin: Farmington is centrally located in the San Juan Basin, which is among the top gas-producing areas in the U.S. The Hotel often has room block purchases for extended stays for gas pipeline production personnel.
-Proximity to Farmington: Bloomfield is located 13 miles east of Farmington, which offers various corporate, tourism, and healthcare amenities.
-Excellent Visibility from U.S. Route 64: The Hotel is located along U.S. Route 64, a major east-west highway spanning from Arizona to North Carolina, offering high traffic visibility and proximity to several nearby retail, dining and fueling options.
-Upside from Replacing Existing Management: The Best Western presents an excellent opportunity for an investor to purchase the Hotel unencumbered by a management agreement. An investor possesses the opportunity to bring in a new management company or operate internally and seek to revamp the operational strategy of the Hotel.
-Fee Simple
-No New Supply