On behalf of the owner, Lodging Partners is conducting a highly confidential and private sale of Hotel Alice, a Boutique Hotel in Atlantic Beach, NC.
Hotel Alice is located off Highway 58 and is across the street from the public beach access to Atlantic Beach. The Hotel is nestled within the southernmost section of the famous Outer Banks, 10 minutes from Morehead City and Fort Macon State Park and 20 minutes from Historic Beaufort. North Carolina Aquarium at Pine Knoll Shore is just 2.7 miles away and features touch pools, local creatures and a submarine tank. Tourist and leisure demand peaks throughout the summer months and remains strong throughout the year. Visitors cross the Atlantic Beach Causeway Bridge into Morehead City to explore local shops and dine at a fabulous array of restaurants. The annual North Carolina Seafood Festival in Downtown Morehead City attracts over 150,000 visitors each year. As one of the oldest of five resort towns along the North Carolina coastline, Atlantic City is packed with history, and Fort Macon State Park is a brief 10 minute drive from Hotel Alice.
Atlantic Beach is one of five communities along the Bogue Banks on North Carolina’s Crystal Coast. Miles of wide sandy beaches provide relaxation, water sports, and entertainment and has been a popular vacation destination for generations. Located on the eastern end of Bogue Banks, access to Atlantic Beach is simple, and the Atlantic Beach Causeway Bridge stretches across the sound, connecting the barrier island to Morehead City on the mainland. The adjacent Port of Morehead City is four miles from the Atlantic Ocean and is one of the deepest breakbulk and bulk facilities on the US East Coast.
Hotel Alice features oversized guest rooms approximately 427 SF in size and configured as 76 Double Queen and 33 King Suites. The Hotel features a large outdoor seasonal saltwater pool and a 24-hour fitness center. The oversized guest rooms feature sleeper sofas, 40-inch flat HDTV’s, WiFi, desks with ergonomic chairs, wet bars, microwaves, refrigerators, in-room coffee makers, hairdryers, irons and ironing boards.
- Excellent Repositioning and up-Branding opportunity to drive revenue
- Four-story, interior corridor building with dramatic views of the Atlantic Ocean
- The 109-unit Hotel was originally built as a Sumner Suites in 1998, converted to Amerisuites in 2002, and Hampton Inn & Suites in 2010
- The Hotel converted to an independent in 2021 and has numerous branding options available to re-position the Hotel and capture significantly more business at higher rates
- The Hotel had very strong in-place cash flow with approximately $4,280,000 in Room Revenue operating as a Hampton Inn & Suites for YE 2019
- The 102-room Inn at Pine Knoll ran $45,800 per room in Revenue (TTM April 2022)
- The 200-room DoubleTree Atlantic Beach ran $47,250 per room in Revenue (TTM April 2022) and 81.15% @ $265.71 ($215.62 RevPAR) in June 2022
This property offers significant upside potential to reposition the Hotel and drive top-line revenue. The Hotel would benefit from a stronger reservation system. The ideal buyer will be a regional operator who uses the opportunity to renovate the property and re-brand the Hotel in order to more widely advertise the Hotel and drive its ADR.
The Hotel Alice has numerous branding and soft-branding options available to re-position the Hotel and capture more business at higher rates. Some potential branding options include Hampton Inn, Holiday Inn Express or a soft-brand. Repositioning to a soft-brand would allow the Hotel to maintain its individual spirit and reputation and take advantage of a large brand’s marketing scale, booking engines, distribution, and loyalty program.
ATTRACTIONS & LANDMARKS
The Hotel, located off Highway 58 on a quiet stretch of Pine Knoll Shores & Atlantic Beach, is a 20 minute drive from historic Beaufort, NC, where visitors can stroll along Front Street with its many boutiques and restaurants, walk along the dock with views of beautiful sailboats and, if the timing is right, view wild ponies across Taylor Creek on Carrot Island and Bird Shoal. Beaufort is home to the North Carolina Maritime Museum and the Harvey W. Smith Watercraft Center, a business dedicated to preserving the craft of traditional shipbuilding that offers demonstrations and courses throughout the year. The Hotel is also near Havelock and Emerald Isle, approximately 40 minutes from New Bern, and 45 minutes from Jacksonville, NC.
Located at the heart of the Atlantic Beach community, this public beach is conveniently located near the Hotel along the Emerald Isle Shoreline and offers miles of coastal fun for visitors of all ages. Restaurants, beach shops, nightlife establishments, and amenities such as volleyball courts and soccer fields provide entertainment for all.
Deep Water Ocean Fishing
The Big Rock Blue Marlin Tournament celebrated its 65th anniversary in June 2022 and is one of the oldest and largest sport-fishing tournaments of its kind in the country. In its recent nine-day event, the overall prize money for the 2022 Big Rock was a record $5,8m with 266 participating boats.
Cape Lookout National Seashore
The Cape Lookout Lighthouse, known affectionately as “The Diamond Lady” due to the diamond pattern on her “dress” was built in the mid-1800s to warn passing ships of the dangerous coastal waters. Today, at 163-feet tall, it is open to the public to climb and tour. The Keepers’ Quarters Museum, located at the base of the lighthouse, was built in 1873 and was once home to two assistant light keepers and their families. A quick ferry ride from Cape Lookout Lighthouse takes visitors over to Shackleford Banks where wild horses still wander today.
Downtown Morehead City
The boundaries of Downtown Morehead City stretch from 4th to 14th streets, “water to water.” Downtown Morehead City saw more than $680,000 in public investment dollars and over $16 million in private investments before the pandemic. Currently, the area is thriving with an abundance of local shops and restaurants, and the city plans to further revitalize the area as one of 46 North Carolina communities that are designated under the 2022 Accredited Main Street America program. This program generated $5.76 billion in local reinvestment and helped open 6,601 new businesses in 2021.
Beaufort Historical Site
Tourists soak up centuries of history in beautiful Beaufort, the third oldest town in North Carolina, during their visit to the Beaufort Historic Site. The Welcome Center offers a launching point for several on-site and regional tours which include a collection of 10 historic homes on nearly two acres of land.
The Port of Morehead City, a breakbulk and bulk facility, is one of the deepest facilities on the United States East Coast. It is four miles from the Atlantic Ocean and is located within 700 miles of more than 70% of the U.S. industrial base. Interstates 95 and 40 are easily accessed via U.S. Highways 70 and 17, and Norfolk Southern provides train services. The port also offers storage with 220,000-ton capacity at their dry-bulk facility and a 177,000 square foot warehouse for housing commodities, a total of over 1 million square feet of storage on the property. It is also the port of embarkation and debarkation for the 2nd Marine Division at Camp Lejeune.
Atlantic Beach is within the jurisdiction of Carteret County, home to several boat builders and marine related businesses including manufacturing, production, and assembly operations. Just north of Atlantic Beach is the Marine Corps Air Station Cherry Point and the U.S. Navy’s Fleet Readiness Center East’s aviation repair and maintenance facility in Havelock, NC. These organizations employ approximately 10,000 military personnel and an additional 4,000 civilian employees and contribute more than $480 million into the local economy yearly.
Hotel Alice at Atlantic Beach