HomeTowne Studios Winston-Salem – University Pkwy

HomeTowne Studios
Winston-Salem – University Pkwy

Winston-Salem, North Carolina

Investment Overview

Lodging Partners, LLC is excited to present for sale the HomeTowne Studios Winston-Salem – University Pkwy. This property is part of a 3-asset HomeTowne Studios portfolio strategically positioned across key markets in the Carolinas—Raleigh–Durham, Winston-Salem, and Spartanburg. The properties may be acquired individually or as a portfolio, offering investors the opportunity to achieve enhanced scale and regional presence.

HomeTowne Studios Winston-Salem – University Pkwy is a 134-room extended stay hotel located in the heart of North Carolina’s Piedmont Triad. With strong transportation access, a diverse economic base, and growing healthcare and higher education sectors, Winston-Salem presents a compelling opportunity for investors seeking long-term extended stay upside in a stable, evolving market.

Strategically located with direct access to I-40, US-52, NC-8, and I-74, the property benefits from proximity to major employers and institutions including Wake Forest Baptist Medical Center, Innovation Quarter, and Wake Forest University. The surrounding Triad region is home to over 1.7 million residents and supports consistent hotel demand across healthcare, education, manufacturing, and logistics.

Central Location in a Resilient Market

Once rooted in tobacco and textiles, Winston-Salem has transformed into a dynamic mid-sized city driven by medical research, higher education, and advanced manufacturing. The hotel’s location on University Parkway places it minutes from major demand generators and within easy reach of Piedmont Triad International Airport (GSO), which serves 1.7M+ annual passengers.

Key Demand Drivers:

Wake Forest Baptist Medical Center – One of the region’s largest employers and top-tier academic medical centers.
Wake Forest University & UNC School of the Arts – Attracting students, visiting professors, and academic events.
Innovation Quarter – A 330-acre life sciences and tech district generating demand from researchers, consultants, and corporate teams.
Regional Employers – Including Reynolds American, Truist, Hanesbrands, Inmar Intelligence, and Collins Aerospace.

Value-Add Opportunity Following Corporate Transition

This property is part of a larger corporate portfolio divestiture and represents a great value-add opportunity for an experienced owner-operator. Under absentee and centralized ownership, the asset has not been actively managed to respond to local market needs. A hands-on owner can immediately improve performance by adjusting staffing, refining pricing strategies, and making selective upgrades – positioning the property for stronger revenue growth and long-term asset appreciation.

Property Highlights

Flexible Delivery Without Brand Encumbrance

The property may be delivered unbranded and free of franchise obligations at minimal additional cost, or with optional Red Roof affiliation offering a low-cost change-of-ownership PIP and ramped franchise fees, reducing upfront capital outlays. It is also approved for conversion to Suburban Studios and may qualify for key money incentives and franchise fee relief during the first five years, enhancing financial performance during the ramp-up period.

Extended Stay Format with Operational Flexibility

The property comprises 134 studio-style guestrooms, each outfitted with kitchenettes, dining areas, and workspaces—perfectly suited for cost-conscious travelers, workforce housing, and relocating families. With the option to operate unbranded, new ownership has the flexibility to pursue an independent model or reposition under a national brand.

Offered Below Replacement Cost

Priced significantly below current construction costs, the asset creates a compelling value proposition for value-focused investors. Red Roof is offering a ramped fee structure and a minimal change-of-ownership Product Improvement Plan (PIP), minimizing upfront brand-related capital requirements. Upon completion of the PIP, the property is well-positioned to realize significant revenue growth.

Guestroom Features & Amenities

Studio-style layouts with kitchenettes (refrigerator, microwave, stove top, sink, and dining table & chairs)
Free high-speed Wi-Fi, HD flat-screen TVs
Bi-weekly housekeeping, on-site guest laundry, and vending machines
Room Mix: 7 Accessible Queen Studios, 84 Queen Studios, 42 Studios with 2 Full beds, and 1 two-room Queen Studio

Surrounding Amenities

Guests enjoy access to several nearby dining options including El Triunfo, North Point Grill, and Mama Zoe Michael’s. Nearby grocery options include Lidl and ALDI, both within a short drive.

Location

Winston-Salem Market Summary

Winston-Salem is a rising metro in North Carolina, offering an attractive blend of affordability, economic diversity, and quality of life. With a population of over 250,000 and expanding infrastructure, it continues to draw investment in medical innovation, logistics, and manufacturing.

Market Strengths:

Centrally located between Charlotte and Raleigh-Durham
Pro-business environment and skilled labor force
FedEx Express Hub and Innovation Quarter drive corporate and project-based demand
25,000+ students enrolled in regional colleges and universities
Cultural and tourism draws including Old Salem, Reynolda House, and local events

Extended Stay Demand Outlook

With limited new supply in the extended stay segment, Winston-Salem presents a favorable environment for well-located assets. The HomeTowne Studios Winston-Salem – University Pkwy is ideally positioned to capture demand from long-term guests including: