Fairfield Inn & Suites by Marriott Asheville Outlets

Asheville, North Carolina

The Opportunity

Lodging Partners, LLC is pleased to offer for sale the fee simple interest in the 92-room Fairfield Inn & Suites by Marriott Asheville Outlets (the “Hotel”) located in Asheville, North Carolina.  The recently renovated Fairfield Inn & Suites is conveniently located in the Blue Ridge Mountains just 15 minutes from downtown Asheville and Biltmore Estate.  The Hotel is located across the street from the brand new Asheville Outlets and only minutes from the Blue Ridge Parkway and less than 7 miles from the beautiful Biltmore Estate and Winery, and The Biltmore Shops & Village.

The Hotel has an ideal location when visiting The Biltmore Estate, Chimney Rock, Pisgah State Forest, UNCA or any of Asheville’s attractions.  The Hotel is located 15 minutes west of the Biltmore Estate, which is one of the largest tourism attractions in the Southeast with 1.4 million visitors each year, a major portion of Asheville’s 11 million annual visitors. The Hotel is also proximate to a variety of other corporate, leisure, and government demand generators such as Asheville River Arts District, University of North Carolina Asheville, downtown Asheville, Blue Ridge Parkway, and is 10 minutes from the Asheville Regional Airport.

Due to its location along Interstate 26, the Hotel is well situated and has excellent visibility to attract and accommodate business, government, and leisure transient demand. The acquisition of the Fairfield Inn & Suites represents a tremendous opportunity to acquire the fee simple interest in a select service hotel, with superior proximity to downtown Asheville and the Biltmore Estate.

Property Highlights

This Premium-Branded Marriott Hotel is in excellent condition following a major $2.0m renovation

Highly Visible from I-26 with easy access to downtown Asheville and the Biltmore Estate

Convenient location near I-26 & I-40, and across the street from the Asheville Outlets

Six-story, interior corridor building

Investment Highlights

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.

Fairfield Inn & Suites by Marriott Asheville Outlets

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.

Institutional Marriott Branded Asset

Marriott’s Fairfield Inn is positioned as one of the most formidable brands within the Marriott portfolio. Distinguished by robust rewards and reservation systems, along with significant name recognition, premium-branded assets hold distinct competitive edges over others in the market. Every Marriott property is supported by the Marriott Bonvoy rewards program, boasting a membership exceeding 120 million across 30 brands and encompassing over 6,700 hotels globally.

Ownership & Terms

The Hotel is being offered free of management, and debt. The Property is offered in an “as is, where is” condition on fee-simple land.

Upside Potential

This property offers the ability to add 1 additional guestroom by separating a 2-room handicap suite and further increase room revenue.  Furthermore, included in the sale there is approximately 0.53-acre of land adjacent to Hotel that is currently used for bus parking. This parcel could be used to accommodate an expansion of the building to support additional rooms and the addition of a food & beverage outlet for a potential brand change.

The Hotel is offered unencumbered by management which will allow a new owner the opportunity to customize and implement management strategies, aggressively market the Hotel, and re-engineer revenue management tactics to enhance value.


Property Overview

Guest Room Configuration

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.

Nearby Restaurants

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.

Market Overview

Asheville, nestled at the confluence of the French Broad and Swannanoa rivers, offers a captivating architectural blend of Art Deco, Beaux Arts, and Neoclassical styles. The lively streets feature local shops, art galleries, and distinctive restaurants set against historic backdrops.

This city celebrates its Appalachian heritage and modern creativity with annual events like Shindig on the Green, Hola Asheville, and Goombay Festival. Downtown Asheville boasts over 30 art galleries and renowned restaurants. Music resonates throughout, with the backdrop of the awe-inspiring Appalachian Mountains.

It’s an adventurer’s paradise, with over 324,000 hectares of pristine wilderness, mountain ecosystems, and cascading waterfalls. Activities like zip lines, whitewater rafting, hiking trails, and mountain biking await. The fall season paints the landscape with vibrant colors, enhancing the city’s charm.

The iconic Blue Ridge Parkway winds through Asheville, offering breathtaking mountain views. The city is steeped in history, from ancient Cherokee legends to the grand 250-room Biltmore House, the largest home in the USA. The historic Omni Grove Park Inn reflects Asheville’s rich heritage.

In 2021, Asheville welcomed visitors who contributed significantly to its economy, with a total expenditure of $2.6 billion. Asheville isn’t just a destination; it’s an experience, where the past meets the present, and the spirit of the Appalachian Mountains infuses every corner with its timeless charm. It’s an area steeped in history, from Cherokee legends to the grand splendor of the 250-room Biltmore House, the USA’s largest home, and the historic Omni Grove Park Inn, to uniquely Appalachian traditions in music and craft evolving from the first Scottish and Irish settlers.

Economic Overview

Asheville thrives with a diverse economy, driven by sectors like advanced manufacturing, healthcare, education, and technology. Major employers such as Mission Health System, Biltmore Estate, and Thermo Fisher Scientific significantly influence the city’s economic growth. The region sustains a thriving $20 billion economy, propelled by steady population growth, innovative manufacturing practices, and a robust healthcare industry.

Major Employers

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.

Asheville Outlets: Located across the street from the Hotel, Asheville Outlets is a premier shopping destination with 75 outlets, offering diverse retail options.

Blue Ridge Parkway: A scenic gateway to outdoor adventures, the Blue Ridge Parkway spans 469 miles, offering breathtaking views and hiking trails. It captivates travelers with its natural beauty.

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.

Higher Education

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.

Lodging Market Overview

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.

Photo Tour


Brokerage team

Ford C. Barton

C: 704 906 4630

Erin Zitelli-Davis

C: 704 989 3500

Fairfield Inn & Suites by Marriott Asheville Outlets

Asheville, North Carolina

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