The Fairfield Inn & Suites enjoys a prime location, just 10 minutes from downtown Asheville and the Biltmore Estate, offering easy access to boutique shops, restaurants, art galleries, and breweries.

In 2022, tourists spent nearly $2.9 billion in Buncombe County, marking a significant increase of 9% from the previous year and underscoring Asheville’s status as a premier destination.

Recently Renovated Product – Minimal PIP Required – This property is in excellent condition following over $2,050,000 in renovations, and it is anticipated that a new owner will incur a minimal PIP from Marriott.

This investment opportunity is situated in a very high-barrier-to-entry market, where there are limited hotels available for purchase in this market annually, underscoring its exclusivity. The property’s value is amplified by its location in an area where land is scarce. Additionally, the challenging entitlement process heightens development costs and timelines, rendering it a valuable and strategic asset in the market.

The Hotel is offered free from management encumbrances, providing a new owner with the opportunity to tailor and execute customized management strategies, embark on aggressive marketing initiatives, and revamp revenue management tactics to maximize its value.

The Fairfield Inn & Suites is an interior-corridor building with 92 guest rooms and suites that feature flat panel TVs, microwave, refrigerator, coffee maker, cable television, hairdryer, iron and board. The Hotel features an indoor Pool & Hot Tub, large Fitness Center, Guest Laundry, and 627 SF of Meeting Space.  A new investor has the ability to add 1 additional guestroom by separating a 2-room handicap suite and further increase room revenue.

This property is in excellent condition following over $2,045,000 ($22,230/room) of renovations and improvements have been completed and provide a significant upside opportunity for a new owner to drive rate and achieve further penetration. Following the completion of the PIP in 2019, ten years was added to the term of the franchise, which now expires on April, 2035.

A number of national and local restaurants are located close to the Hotel and includes Stone Ridge Tavern, Apolo Flame Bistro, Papa’s and Beer, West End Bakery, Sunny Point Cafe, FATZ Eatz & Drinkz, P. F. Chang’s China Bistro, 12 Bones Smoke House, and Curate.

GE Aviation: GE Aviation’s Asheville plant, a global hub for Ceramic Matrix Composite (CMC) materials, is a pioneering force in aviation engineering. With continual investments, it remains a vital player in the aerospace industry.

Vaya Health: Vaya Health, a leading managed care organization, promotes mental health and developmental disability services, employing 800 professionals and adapting to evolving healthcare reforms.

Eaton Corporation: Operating in Asheville since 1977, Eaton contributes to sustainable power technologies. With two facilities employing nearly 1,500 people, it continues to expand its footprint.

BorgWarner: Investing $62.25 million, BorgWarner enhances local competitiveness, creating high-wage jobs and amplifying manufacturing capabilities. Upon completion, it will employ over 600 workers.

Pratt & Whitney: Pratt & Whitney’s new $650 million aerospace manufacturing center, beginning production in late-2023, is expected to generate 800 new jobs.

Biltmore Estate: Situated in 8,000 acres of Blue Ridge Mountain landscape, Biltmore offers a historic retreat. With 250 rooms, art exhibitions, a Winery, and nature trails, it draws over 1.4 million annual guests.

Downtown Asheville: A vibrant entertainment hub, downtown Asheville features independent shops, eateries, art galleries, and a lively nightlife. It’s a creative haven with a unique local vibe.

Black Mountain: 15 miles from Asheville, Black Mountain is a charming town with outdoor adventures, art scenes, and historical significance, attracting nature lovers and art enthusiasts.

Bob Lewis Ballpark: Hosting baseball and softball tournaments, the park promotes youth development and sportsmanship, enhancing the local community.

Nearby Attractions: From historic sites like Thomas Wolfe Memorial to breweries like Sierra Nevada Brewing Company, Asheville offers diverse attractions catering to various interests.

University of North Carolina at Asheville: A prestigious public liberal arts college, UNC Asheville offers personalized education and boasts a faculty of 220, standing as a beacon of academic excellence.

Western Carolina University: Providing over 115 undergraduate majors and 40+ graduate programs, WCU excels in fields like engineering, healthcare, business, and the arts, preparing students for successful careers.

Asheville-Buncombe Technical Community College: A valuable resource in the region, A-B Tech offers over 130 degrees and certificates, contributing significantly to the local academic landscape.

Mission Hospital Asheville: With 815 beds, Mission Hospital Asheville is a Level II trauma center and comprehensive stroke center, offering specialized care. It has earned recognition for its excellence in cardiovascular care.

Charles George VA Medical Center: Serving over 31,000 veterans, the center offers comprehensive healthcare services, specializing in various fields through innovative research programs.

Highway: Conveniently located near I-40 and I-26, Asheville offers easy access to major interstates, enhancing connectivity and promoting travel.

Asheville Regional Airport: Just 10 miles from the Hotel, the airport supports major commercial airlines, providing excellent connectivity and serving approximately 1.84 million passengers at the end of 2022.

Asheville’s lodging market, comprising 107 hotels with over 9,619 rooms, boasts a strong performance with a 69.8% occupancy rate and $176.98 ADR in 2022. Continued RevPAR gains are expected, driven by the city’s vibrant economy, diverse attractions, and robust hospitality industry. The Hotel’s competitive set includes six hotels, ranging in size from 80 to 125 rooms, collectively offering 630 rooms, catering to diverse traveler preferences.