Displaying items by tag: hawaii hotel for sale

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This offering represents the opportunity to acquire the recently renovated 67 room boutique hotel situated on fee simple land, unencumbered by management operations with a non-union workforce and with a dramatically increasing revenue stream through the property’s new affiliation as Hawaii’s only Ascend Choice Hotels property. 

Investment Highlights

Increased Tourism

Hawaii is experiencing an incredible resurgence within its visitor industry. 2012 achieved the highest hotel revenue in history at $4.18 billion from its 7.8 million visitors. After the first 3 quarters in 2013, Hawaii’s hotel revenues had reached $4.04 billion due to increased visitor arrivals and growth in ADR’s. Year to date through November, Hawaii has welcomed over 7.5 million visitors representing a 3% increase over the same period in 2012 and is on pace to be another record setting year. 

Barriers to Entry 

Waikiki has a very limited supply of land zoned for hotel use under County zoning thereby dramatically limiting competition through the introduction of new inventory. These limitations provide tremendous stability for the investor as supply constraints ensure future competition is measured and easily manage in property operations. 

Limited Future Capital Requirements 

A $4 million room and public area renovation was completed at the Equus Hotel in 2008. With upgrades and replacement to hard and soft case goods and a complete lobby renovation, the purchaser of the Hotel will have very limited capital expenditure outlays during the initial period of this investment. 

Desirable Location 

The Equus Hotel offers guest great convenience with its location at the entrance to Waikiki and is within walking distance to the Ala Moana Shopping Center, Waikiki Beach, the Hawaii Convention Center and a wealth of nearby amenities including popular retail, restaurant and entertainment venues. 

Unencumbered Management 

The Equus Hotel is currently self managed by the Seller and will be sold unencumbered providing multiple options for the buyer.

Strong Market Indices 

Waikiki is the one of the nation’s top 5 hotel markets with an year to date average daily rate of $227.05 (2nd in the US) and an revenue per available room of $176.19 (2nd in the US). The buyer of the Equus Hotel Waikiki is purchasing an asset in a marketplace with high consumer identity and demand supported with strong sponsorship from the air carriers that provide over 10 million annual air seats into Hawaii.