Quality Inn Warsaw Near Rappahannock River 4522 Richmond Rd

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Colliers, as an exclusive representative of the ownership, is pleased to present to qualified investors for their acquisition consideration the Quality Inn Warsaw Near Rappahannock River located at 4522 Richmond Rd, Warsaw, VA 22572. The subject property is a two-story, interior-corridor, limited service, midscale hotel built in 1997. The hotel sits on a 1.4-acre parcel in the desirable Northern Neck region of Virginia with direct frontage on Richmond Road / U.S. 360 (13,717 vehicles per day).
The hotel is offered in excellent condition with all 40 rooms rentable. Operationally, the property has outperformed its competitive set over the past four years due to superiority of location and quality of guest rooms. For reference, the hotel achieved RevPAR penetration indexes of 135% in 2021, 118% in 2022, 108% in 2023, and 107% in the trailing-12 months behind June 2024. It is expected that a hands-on, local or regional operator could improve operating metrics to return to a RevPAR penetration index similar to what was achieved in 2021 or 2022, given the current ownership profile is based out-of-state.
Current ownership has made significant progress towards their current property improvement plan from Choice Hotels, and it is expected that the hotel will trade with minimal PIP to a new purchaser. A new purchaser should be able to expect a long-term franchise agreement upon successful review of their application.
The property benefits from a wide variety of demand generators including tourism, military, medical, university, and transient. Tourism: The hotel is located near key Northern Neck attractions including historic sites and museums (Stratford Hall, George Washington Birthplace, Menokin), outdoor and water-based recreation (Belle Isle State Park, Rappahannock River), as well as a variety of cultural events, culinary events, festivals, and wineries. Military: the hotel is located approximately 45 miles from the Naval Surface Warfare Center Dahlgren Division, a major military facility which generates demand for lodging for personnel, contractors, and visiting families. Medical: the hotel is situated approximately 15 miles away from the Riverside Tappahannock Hospital. University: the hotel is located just one mile from the Rappahannock Community College, which enrolls approximately 2,500 students. Transient: the hotel boasts visible frontage on U.S. 360 which provides quick thoroughfare to Richmond. The hotel also has quick access to U.S. 17, which links Fredericksburg to the Northern Neck.