Quality Inn Redgranite 717 E Bannerman Ave

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Quality Inn (‘Hotel’ or ‘Property’) located in Redgranite, Wisconsin. The Choice Hotels International-branded Hotel is offered at $2,000,000 or $50,000 per key.
The Quality Inn is a 40-room, two-story Hotel located at 717 Bannerman Avenue in Redgranite, Wisconsin. The Property is highly visible with direct access off Wisconsin Highway 21 - Bannerman Road. Various common area amenities at the Property include an indoor pool, indoor whirlpool/hot tub, meeting room, breakfast area and vending machines. Formerly an EconoLodge, the property underwent a thorough renovation and rebranding to become Quality Inn in 2022.
In central Wisconsin lies Redgranite, a village celebrated for its tranquil ambiance and breathtaking natural scenery. The majestic Redgranite Quarry, renowned for its crystal-clear waters and striking red granite formations, draws visitors to immerse themselves in its beauty. Annual events like the Redgranite Labor Day Festival showcase the village's strong sense of community spirit, with festivities like parades and live music bringing locals and visitors together. Surrounding Redgranite, picturesque woodlands and waterways offer outdoor adventures, from scenic hiking trails to pristine fishing spots, within Wisconsin's Central Sands landscape. Economically, Redgranite thrives on small businesses, agriculture, and modest manufacturing, supported by its close-knit community. With its serene ambiance, vibrant community life, and natural splendor, Redgranite stands as a beacon of small-town charm. It invites travelers to experience the essence of rural America and find solace in its peaceful embrace. Whether seeking a break from city life or a taste of authentic community living, Redgranite offers an idyllic retreat in the heart of the Midwest.
Nestled within reach of an eclectic mix of attractions, the hotel stands as a prime hub for exploration in Redgranite. Nearby, visitors can immerse themselves in the serene ambiance of Willow Creek Park or embrace the rugged allure of Redgranite Quarry for an adventure-filled day. Cultural enthusiasts will find the Redgranite Lion's Hall a captivating venue for community events and gatherings. Meanwhile, the Spring Lake Boat Landing offers an escape onto the water, perfect for aquatic enthusiasts. For a moment of reflection, Veterans Memorial Park serves as a solemn tribute to heroes’ past. And when it comes to culinary delights, the Redgranite Dining Strip promises a diverse range of dining experiences to satisfy every taste. In the winter months, Nordic Mountain Ski Resort beckons, offering thrilling slopes for winter sports enthusiasts. The scenic Bannerman Trail provides leisurely walks or cycling adventures, while for those inclined towards shopping, Greentree Mall offers a diverse array of retail therapy options. Moreover, the property's strategic location makes it an ideal pit stop for travelers, being less than two hours away from major cities such as Madison, Milwaukee, and Green Bay, making road trips a breeze regardless of your destination. With such a rich tapestry of attractions just a stone's throw away, the hotel provides a convenient base for an unforgettable journey through Redgranite.
The hotel's RevPAR Penetration Index at year-end 2023 reached 114 percent, surpassing its competition. The hotel is projected to maintain this trajectory with an average penetration index of 114 percent over the next five years. In this light, potential buyers could foresee various advantages in purchasing the asset, such as heightened room revenues, excess capital for renovations to maintain strong market positioning, and operational benefits such as improved cash flow and economies of scale.
BROKER OF RECORD
Todd Lindblom
Wisconsin
P: (262) 364-1964
Lic #: 56163-90