Hotel - Sulphur Springs, TX

This 50 room Econo Lodge hotel is located located on Interstate 30 about 82 miles east of Dallas. The hotel was built in 1984 and the current owner purchased it in 2016. The hotel was closed in February 2022 due to the City of Sulphur Springs requiring the property be rewired to meet the fire code and to separate the sewer system from an adjoining property. The owner was able to get a new SBA loan to payoff a former owner and to make the needed improvements; however, the owner ran out of money and has not been able to complete the required improvements so they have decided to sell the property. With the completion of the required improvements the hotel could be reopened or the property could be converted to an assisted living center. The owner estimates it will cost about $90,000 to complete the needed improvements. The property is on 3.782 acres and the building consists of 35,388 sq. ft. with two levels. In addition to the 55 fully furnished rooms, the facilities have a 2,000 plus sq. ft. restaurant with dining room and kitchen which has not been in operations for many years. There is also a a 2,000 sq. ft. plus bar area which has not been operational for several years and could be converted to a recreational center or conference center.