Courtyard by Marriott | Paducah, KY
3835 Technology Drive, Paducah, KY 42001
- For Sale $9,000,000
- City Paducah
- Zip Code 42001
- Property Type Other
- Lot Size 2.84 Acre
- Year Renovated 1987
- Date Updated 18 Jun, 2021
The Courtyard by Marriott is situated off Interstate 24 with excellent visibility and near all retail, shops, dining, and corporate offices. The hotel is directly next to one of the largest employers in Paducah being Computer Services, Inc. and only 6.2 miles from Barkley Regional Airport-Pah.
The Courtyard underwent extensive renovations throughout 2019 and 2020 with completion of the PIP in January 2021. Originally 100 rooms, 4 rooms had to be removed to expand the lobby and other public spaces leaving 96 guest rooms. Renovation costs have eclipsed over $3,500,000 that have been spent into the asset to bring it back to life and extend the profitable years for a new owner.
The hotel brings a unique situation for an experienced Marriott operator to become a competitive set leader in the market. Currently, the Net Operating Income (NOI) is substantially low due to extensive renovations during the COVID-19 pandemic, however this will be the newest asset giving it an edge over the competition.
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