SureStay Plus Hotel By Best Western – Asheboro, NC
May 25, 2022
Lodging Partners announced it has arranged the sale of the SureStay Plus Hotel By Best Western in Asheboro, NC. This is Lodging Partner’s third transaction in this market. The Hotel has very strong performance, excellent CashFlow, and stable Revenue. The Hotel offers excellent upside potential with the addition of the $1.25B Toyota EV Battery plant just north of the Hotel and the 10.8% reduction of room supply in the market due to the closing of a hotel for the new I-74/US-49 interchange. Hotel demand in this market also includes weekend tourist traffic en route to and from Myrtle Beach, with frequent stops in Asheboro the night before arriving in Myrtle Beach.