Travelodge by Wyndham, Memphis Airport/Graceland
1471 East Brooks Road Memphis, TN 38116
Asset Type: Hotel
Square Feet: 75681
246-Key Memphis Airport Hotel
Besen Partners Hotel Advisory Group, as exclusive agent for Ownership, is pleased to offer for sale the Travelodge by Wyndham Memphis Airport/Graceland located at 1471 E. Brooks Road, Memphis, TN 38116 (“The Property”). The Property is proximate to the intersection of I-240 and I-55, the Memphis Airport and Elvis’ Graceland. The four-story property was built in 1974 and underwent a full renovation in 2013. Owner has continued to make capital improvements to the Property since acquiring it in 2017, investing approximately 1.8MM in structural improvements (new rood, new HVAC throughout, new rooms lock system, Verdant thermostat control devices, new boiler).
The Property will be delivered unencumbered by flag and management. Reflagging the property can lead to approximately 35%+ increase in ADR and RevPar. It is expected to be approved for reflagging by traditional hotel brands such as Sonesta/Red Lion, Wyndham, and Best Western. This value-add asset is a rare opportunity in a metropolitan area located in the Memphis metroplex. Qualified hotel operators can reposition the property at below market construction costs, paving the way for a high cash flow deal through its term. The Property achieved 2.7MM+ in revenue in 2019 and 2020, proving to show little to no impact impact by Covid-19.