Wingate by Wyndham Somerset PA

Property listed by John Bilyak License number: PA RS188310L.

Property tours are by APPOINTMENT ONLY. Any attempts to visit/contact property without agent approval will result in a ban from all future listings! Prospective buyers can view financial history including revenue, NOI, ADR, and Occupancy by clicking "Download OM" and signing a confidentiality agreement. This property is currently listed as unpriced. NO PRICING GUIDANCE IS AVAILABLE. Ownership will review and respond to all offers and ultimately select the offer with the best price and terms.

Colliers, as an exclusive representative of the seller, is pleased to present to qualified investors for sale the Wingate by Wydham of Somerset, Pennsylvania, located at 138 Marsh Rd, Somerset, PA 15501 (hereafter the “hotel”). The hotel is located on a 1.45-acre lot and is offered with fee-simple interest, unencumbered by management, and unencumbered by debt. The hotel is a 57-room, interior corridor, two- and three-story, limited-service asset with covered parking under the first floor, located strategically off interstate I-76/I-70 (34,765VPD). The hotel boasts proximity to Pittsburgh and Harrisburg, the state capital.

The hotel presents a unique opportunity for a value-add regional or local prospective purchaser with the capability to improve sales, marketing, and operations at the property level. Current ownership at the hotel is comprised of an out-of-state, unsophisticated investor profile who has left operations of the hotel to local staff unrelated to ownership. Thus, significant upside exists for a prospective purchaser looking to add-value to the hotel through hands-on, aggressive sales and management efforts, as evidenced by the STR Trends report. For example, in 2022, the Wingate achieved RevPAR of only $9.34 while the competitive set achieved RevPAR of $51.92, contributing to a RevPAR penetration index of just 18%. The STR Trends report is comprised of Comfort Inn Somerset, Days Inn Somerset PA I-70 I-76, Red Roof Inn Somerset, Hampton Inn Somerset, and Holiday Inn Express Somerset. The trends report signals to prospective purchasers the Wingate is performing, on average, with approximately 82% worse Revenue per Available Room than the average of the competitive set, and therefore substantial operation upside exists for a purchaser to increase revenue and net operating income. The hotel should be evaluated by prospective purchasers strictly on a projection based pro-forma basis as evidenced by the STR report, which showed RevPAR of $56.03 in the trailing-12 months behind July of 2023, $51.92 in 2022, and $43.51 in 2021. If an investor were to achieve 100% RevPAR Penetration, stabilized revenue figures would exceed $1,000,000, and with industry standardized operating margins, stabilized net operating income figures would exceed $350,000. The offering presents an opportunity for a prospective purchaser to enter a mid-scale, nationally-recognized family of franchisees at a significant discount to replacement cost.

Current ownership converted the hotel from a Super 8 to a SureStay by Best Western in conjunction with a conversion property improvement- plan in 2019. During the conversion to SureStay, ownership replaced cased goods in guest rooms, carpets in guest rooms, redesigned the front lobby area. The hotel was then converted again from SureStay to Wingate by Wyndham in 2022 and underwent additional renovations such as new guest room door locks, a new soft goods package in guest rooms, and repairs to the elevator. It is expected that the Wingate franchise could be available for retention by prospective purchasers upon the completion of a new modest change-in-ownership PIP, however prospective purchasers should consult with a franchise representative to verify the availability of the franchise