Holiday Inn Express & Suites, Millington, TN

This hotel features 98 rooms in a 4-story interior corridor layout, built in 2008.

The property was renovated in 2020 with a modern Formula Blue design.

Ideal for a Buyer who wants cash flowing property with a potentially 15-year license from IHG in a strong market with strong ADR and revenue with market growth.

2024 revenue is $3.106M plus about $50K revenue loss due to a temporary electrical outage in the area due to the weather. Thus, true revenue consideration may be approx. $3.156M.

2023 Revenue of $3.311M with a strong NOI of $1.3M. During 2023, this hotel's ADR was about $130, and RevPAR was approx. $ 87.

Fully staffed with a GM, offering potential upside for owner-operators.

Prime location in Millington, a rapidly growing suburb North of Memphis, known for its safety and family-friendly environment, benefiting from major developments and high visibility off US Route 51 and closest hotel to the planned exit for I-269 a Highway from Canada to Mexico.

Over $1.4 billion in planned developments, low property taxes, and minimal traffic congestion make Millington attractive for business and tourism growth.

Strong demand drivers: close to NSA Mid-South Naval Base, Memphis International Airport, unprecedented residential and commercial growth, Industrial Plants, New and expanding regional sports complex, and leisure attractions in the Metro Memphis area.