3800 Kellogg DrWichita, KS 67213

For Sale
$7,750,000

121-Key Best Western Plus, High Demand Area

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 121-key Best Western Plus hotel presents a compelling investment opportunity in Wichita, Kansas. Built in 1995, this well-maintained property boasts modern amenities and benefits from a prime location near Dwight D. Eisenhower National Airport, providing convenient access for travelers. A complimentary airport shuttle enhances guest convenience, extending service to other local attractions including Tanganyika Wildlife Park and the Sedgwick County Zoo. The hotel's strategic position at the intersection of Highway 400 and I-235 places it near major employment centers such as Cessna Aircraft, Flight Safety International, John Deere Training Center, Bombardier Learjet, Spirit AeroSystems, and Downtown Wichita. This proximity to significant demand generators ensures consistent occupancy. Since 2022, the hotel has achieved an impressive average daily rate (ADR) increase of over $6 while maintaining occupancy. However, a Smith Travel Research report indicates further upside potential, particularly in occupancy, which currently lags the competitive set by approximately 10%. Despite this, the ADR remains competitive, exceeding the comp set by over $30. The asking price is $7,750,000, significantly below replacement cost, making this a truly attractive investment in a robust hospitality market. The property's strong brand affiliation and strategic location offer a compelling combination for investors seeking significant return on investment.

Highlights

  • 121-key Best Western Plus hotel in Wichita, KS, built in 1995.
  • Excellent location near Dwight D. Eisenhower National Airport with complimentary airport shuttle service.
  • Strategic location near major highways (Highway 400 and I-235) and key employment centers including Cessna Aircraft, Spirit AeroSystems, and Downtown Wichita.
  • Strong performance with ADR increases exceeding $6 since 2022, though occupancy lags the competitive set by approximately 10%.
  • Asking price: $7,750,000, below replacement cost.

Location Insight

City
Wichita
County
Sedgwick
State
Kansas
Latitude
37.6744302
Longitude
-97.3873865
3800 Kellogg Dr, Wichita, Kansas

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3800 Kellogg Dr
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