Services - Hotels & Other Lodging | Services - Other Travel & Transportation

Asking Price	$4,200,000	Inventory
Gross Income	$1,876,961	Real Estate	$3,700,000*
Cash Flow	$700,686	Year Established	1972
FF&E	$500,000*	Employees	N/A

* included in the asking price

** not included in the asking price

16.5% Cap Rate on Trailing Income

This 182 room interior corridor hotel has 10,000 square feet of meeting space, an on-site restaurant and lounge, a beautiful courtyard, dramatic indoor swimming pool, and several other amenities. Many areas of the hotel have been renovated in recent years and the property is well positioned in this market. This property has strong financial fundamentals, with increasing revenues. The restaurant, lounge and meeting space are leased to a F&B operator, so the hotel can be operated as a limited service with the advantage of a stabilized income stream resulting from the lease. 2007 Hotel NOI is $600,000 additional NOI of $100,000 is scheduled from the restaurant lease for 2008. Occupancy and Income are growing and can be expected to increase through 2008 and 2009. Cap rate on trailing income is above 16.5%. Grand Island is the fourth largest city in Nebraska with a population of nearly 50,000 people, and is the county seat of Hall County. Grand Island is known as the retail hub of Central Nebraska, and is the central service area to a surrounding population of over 200,000. The many demand generators in Grand Island include, but are not limited to: The Nebraska Law Enforcement Center, Central Nebraska Regional Airport, Central Community College, Stuhr Museum of the Prairie Pioneer, Grand Island Railyard, Fonner Park, the State Veterans Home, and a large concentration of retail establishments. As well as many annual events such as the Hall County Fair, the Harvest of Harmony parade, and Husker Harvest Days.

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Facilities: This interior corridor hotel offers the new owner the opportunity to own a turn-key property with excellent returns on current income and value added potential to increase income immediately. This hotel includes 176 spacious hotel rooms, 6 deluxe suites, 10,000 SF meeting area, a full service restaurant, lounge, courtyard, indoor pool, ample parking, arcade room, fitness center and predominate porte cochere. 40 rooms have recently been completely renovated, the remaining rooms have recent improvements, and most common areas have been updated.

Competition: This property is located at the corner of a major intersection and is the first hotel encountered from the Interstate 80 exit. During recent years a new exit from Interstate 80 has been constructed leading directly to this hotel. The street is currently a paved two lane road leading from Interstate 80 into town and is planned for expansion to a four lane road as expected traffic counts continue to rise. There are no new hotels planned or under contruction in Central Nebraska and development between this hotel and the Interstate is restricted.

Growth/Expansion: As a result of property and operational improvements as well as the new exit and connection from Interstate 80, the property has realized a 30% increase in RevPAR, and a 40% increase in occupancy during the past year. As a result of the new interstate exit. New demand generators are being developed near this hotel. Occupancy and RevPAR continues to grow and can be expected to increase through 2008 and 2009. Additional new development between the Interstate and this hotel has been restricted for wetland protection.

Financing: New Financing. Seller will consider small short term second

Support/Training: Seller Will Provide Training