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PRICE REDUCTION!!! Quality Inn - Indio, CA (ID: 14932)
Hotels Under 100 Rooms | Indio, California, United States |
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| Price: |
USD 6,200,000 |
| Status: |
Active |
| Rooms: |
62 |
| Year Built: |
1984 |
| Lot: |
3 ACRES |
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Property Description |
PRICE REDUCTION!!! The Quality Inn in Indio, California, is a 62 room hotel with a AAA-2 Diamond rating conveniently located off the I-10.Located in Indio, the Quality Inn provides elegance and comfort with a commitment to excellent customer service. The current seller is outperforming the STAR competitive index by 118 % in terms of ADR, but is only achieving 76 % in terms of occupancy. A new buyer has an opportunity to do a better yield management which can result in higher RevPar and hence better returns. The sale includes additional land approximately 1.7 acres which is zoned CT, Indio (according to the City of Indio building department, possible uses will be office, retail, restaurant,etc). New buyer will have to get a conditional use permit to build a hotel. Indio is home to many festivals year round which draws hundreds of thousands of people to the city, generating a heavy demand for hotel rooms. The National Date Festival held in February draws more than 300,000 people, the Tamale Festival held in December draws approximately 125,000 people Coachela Valley Music & Arts festival held in April draws around 110,000 people, Stagecoach Country Music Festival in May draws about 55,000 people. The Palm Springs Kennel Club dog show, the 2nd largest conformation show in the country, the Frank Sinatra Golf Tournament, the Cabazon Band of Mission Indian Reservation's annual Powwow, the Nortel Palm Springs International Film Festival, Joshua Tree National Park and the Southwest Arts Festival are some other events that draw thousands of people.
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