Rodeway Inn

Wytheville, VA

THE OPPORTUNITY

Lodging Partners has been asked to offer for sale the Value-Add 108-room Rodeway Inn located in Wytheville, VA. Situated in the picturesque Blue Ridge Mountains, the Hotel is conveniently located near the junction of Interstates 77 and 81 at exit 73.

Nearby attractions, such as the Blue Ridge Parkway and the Jefferson National Forest, along with numerous excellent restaurants, draw tourists of all ages. The hotel is ideally positioned for NASCAR enthusiasts, providing easy access to the Bristol Motor Speedway and the Martinsville Speedway. Additionally, the Hotel is minutes away from southwestern Virginia’s popular attractions, including the Wohlfahrt Haus Dinner Theatre, Edith Bolling Wilson Birthplace Museum, Appalachian Regional Exposition Center (APEX Center), West Wind Farm Vineyard & Winery, and the scenic Blue Ridge Mountains. The Hotel is next door to the Cracker Barrel Restaurant and the 100-bed Wytheville Community Hospital is a short 10-minute drive away.

The guestrooms feature free WiFi and flat-screen TVs with cable channels. Many rooms have microwaves and minifridges. Hotel amenities include a seasonal outdoor pool.

INVESTMENT HIGHLIGHTS

Property Highlights

108 Units: Easy to operate and ideal size for an owner-operator
Large Manager’s Living Quarters: Conveniently located on-site
Value-Add Offering: Opportunity to Re-Open as a Rodeway Inn or Reposition with a variety of franchises and revamp the operations of the Hotel after completing a renovation
Pro-Forma Stabilized Revenue of $950,000 – $1,050,000
STR Trend Report RevPAR of $27.65 in 2023
Substantial Discount: Cost per key is well below replacement costs, with potential for growth in revenue, better expense management, and improved operational

Upside Potential

Replacing absentee out-of-state ownership with hands-on management, along with implementing direct sales efforts and rate management, is expected to boost revenues and profit margins after re-open as a Rodeway Inn or repositioning to another franchises. The ideal buyer will be an owner-operator dedicated to increasing top-line revenue while enhancing operational efficiencies to achieve stronger bottom-line results.

All inquiries, requests for information, and property tours are to be made solely through Lodging Partners. Please contact Ford Barton to RSVP in advance.