Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Ramada by Wyndham North Platte & Sandhills Convention Center (‘Hotel’ or ‘Property’) located in North Platte, Nebraska. The Wyndham Hotels & Resorts-branded Hotel is being offered at $6,499,999 or $52,846 per key. The Ramada by Wyndham North Platte & Sandhills Convention Center is a 123-room, two-story Hotel stationed at 2102 S. Jeffers Street, North Platte, Nebraska, just off U.S. Highway 83 near the intersection of Interstate 80. Various common area amenities at the Property include an indoor pool and hot tub, on-site restaurant, fitness center, business center, room service, gift shop, bus/truck/recreational vehicle parking, and the Sandhill Convention Center which includes over 17,000 square feet of event space. The Hotel offers 12 meeting rooms that can accommodate up to 300 conference guests or over 600 banquet guests. North Platte, Nebraska, situated in Lincoln County in western Nebraska, exudes charm with its rich history and diverse attractions. The hotel's strategic location near popular destinations allows it to capitalize on the thriving local economy. Visitors have a plethora of options to explore, including the iconic Buffalo Bill Ranch State Historical Park (5.1 miles away), honoring the legendary Wild West showman, Buffalo Bill Cody. For history enthusiasts, the Lincoln County Historical Museum (4.7 miles away) offers insights into the region's past. Nature lovers can bask in the scenic beauty of Cody Park (2.6 miles away) or take a leisurely stroll around Lake Maloney State Recreation Area (7 miles away). Sports enthusiasts can indulge in activities like golfing, fishing, and boating at the area's stunning lakes and golf courses. Notably, North Platte hosts the renowned Nebraska Land Days celebration annually, featuring rodeos, concerts, parades, and carnival rides, drawing visitors from near and far. The economy of North Platte is diverse, driven by several key industries. Transportation and logistics are primary contributors, thanks to the city's strategic location along Interstate 80 and the Union Pacific Railroad. Bailey Yard (7.6 miles away), the world's largest railroad classification yard, employs a significant portion of the local workforce. Healthcare also plays a crucial role, with Great Plains Health being a major employer. The North Platte-Lee Bird Regional Airport, located just over five miles from the hotel, is another significant contributor to the local economy. Additionally, agriculture thrives in the region, benefiting from its fertile farmlands and ranches. The twelve-month RevPAR for the I-80 Corridor hotel submarket increased by 4.7 percent as of year-end 2023. This growth indicates a strong recovery and improved performance in the hospitality sector along this key interstate route. The increase points to a strong potential for good returns, creating a strategic opportunity for a potential investor aiming to capitalize on the upward momentum in the hospitality sector.