INVESTMENT HIGHLIGHTS

FINANCING: SBA, USDA and Conventional Loans Available. Call Madhur Gupta at 919 428 9840. 

PROPERTY: Built in 1996 and last renovated in 2021, fee simple interest in the 2-story, 46-rooms, interior corridor, midscale Ramada by Wyndham Hotel with an area of approximately 21,586 sq ft and lot area of an acre, located in Maggie Valley in Asheville MSA, North Carolina. The 46 rooms comprise of: One king bed- 10; Two queen beds- 30; One king jacuzzi suites- 2; One king handicap- 2; Two queen beds and sofa bed- 1; One king room with a kitchenette is currently used by employees. Recent renovation includes mattresses, furniture, carpet, accessories and miscellaneous items. Featured amenities include scenic mountain and creek views, private balconies, heated indoor pool and hot tub, breakfast area, fitness center, business center, free WiFi, free parking, interior corridors, ADA amenities, and more.

PERFORMANCE AND PRICING GUIDANCE:

On an average, the Hotel has delivered over $100 ADR and over 100% ADR Index outperforming its competition.

Underperforming hotel RevPAR Index offers value-add opportunity. A motivated and able owner operator can increase the revenue to $900,000-$1 million and NOI to over $300,000, after a year of stabilization.

Low competition from franchised hotels in Maggie Valley. Competitive set includes more hotels from outside of Maggie Valley.

Savings in fixed expenses with low county property tax of $21,253 only.

Due to labor crunch that started with COVID-19, smaller properties proved resilient. Additionally, small property with low staffing levels can result in significant savings in payroll expenses.

This Asheville MSA hotel for sale is offered at 4x 2021 room revenue and expected to sell for a price at a 10% pro-forma cap rate or higher due to revenue upside and low expenses.

GUESTS: Affluent yet practical business & mostly leisure travelers.

MAJOR CITIES NEARBY: 40 min (30 miles) via I-40 W from Asheville, NC; 1 hr 18 min (60.4 miles) via I-40 E from Gatlinburg, TN; 1 hr 32 min (94.9 miles) via I-40 E from Knoxville, TN; 1 hr 47 min (109 miles) via I-40 W from Hickory, NC; 2 hr 48 min (149 miles) via US-74 W from Charlotte, NC; 3 hr 28 min (177 miles) via US-23 N from Atlanta, GA; 2 hr 55 min (183 miles) via I-26 W from Columbia, SC; 3 hr 10 min (205 miles) via I-40 W from Greensboro, NC; 4 hr 22 min (284 miles) via I-40 W from Raleigh, NC.

AIRPORTS: The Asheville Regional Airport is the top-connected non-hub airport in the country and makes connecting to global destinations easy. Just 10 miles from downtown, and 32 miles from the hotel, the airport provides 11 direct flights to Atlanta, Charlotte, Chicago, New York, Washington D.C., Ft. Lauderdale, Orlando and more, and serves approximately 750,000 passengers per year. Hendersonville Airport is 40 miles and Greeneville-Greene County Municipal Airport is 49 mi from the hotel.

HIGHWAYS: Interstate Highways I-26, I-40, I-240 | U.S. Highways U.S. 19/23, 25, 25A, 70, 74

Asheville is an easy drive from most of the eastern U.S., with convenient access to major highways, interstates and nearby major cities. With only a 21-minute mean travel time to work in the Asheville Metro there is an excellent network of highways and interstates. I-26 runs up to Tennessee and down to South Carolina, I-40 takes you west to Knoxville, TN and east to Winston-Salem, and I-240 connects the two for seamless transitions. U.S. Highways 19/23, 25, 25A, 70, 74 run throughout the greater Asheville metro area, making travels and transportation simple and efficient. Asheville MSA is also home to the scenic Blue Ridge Parkway, which follows the edge of beautiful Blue Ridge Mountains, connecting Shenandoah and Great Smoky Mountains National Parks. Asheville is a bike-friendly sustainable city with color-coded lanes, bike racks on city buses, bike lockers and a bike repair stations to make sure your wheels are always turning in the safest way possible.

RAILROAD: Asheville is served by the Norfolk Southern Railroad Corporation and Blue Ridge Southern Railroad. Amtrak stations in Spartanburg, SC and Greenville, SC are within driving distance (about 60-70 miles) from Asheville.

SEA: Just over an hour away from Asheville is the South Carolina Inland Port in Greer, an innovative facility allowing for sustainable, quick and reliable moving of containers inland. Paired with interstate and rail connections to Port or Charleston (250 miles away) and Port of Savannah (285 miles away), companies located in Asheville benefit from knowing their goods have arrive on time with global access.

LOCATION: Ramada Limited Maggie Valley hotel, nestled in the beautiful Smoky Mountains near Blue Ridge Parkway, is located just off I-40 in Maggie Valley, Haywood County, North Carolina. A popular tourist destination, it is home to Cataloochee Ski Area and the former Ghost Town in the Sky amusement park, and only 35 miles away from one-of-a-kind destination, Biltmore, where visitors come to take a tour of the historic Biltmore House, luxurious legacy of George and Edith Vanderbilt and “America’s Largest Home” as magnificent today as it was more than a century ago, sitting on 8,000 sprawling acres, with historic gardens and wooded walking paths. The region offers plenty of outdoor activities including hiking, golfing, horseback riding, skiing and white water rafting. 

POPULATION: Maggie Valley is part of the highly desirable Asheville Metropolitan Statistical Area that is poised to pass 500,000 in population as early as 2025.

ATTRACTIONS/AMENITIES NEARBY: Smoky Mountains Blue Ridge Parkway 10 minutes drive; Cataloochee Ski 5 mi; Jonathan Creek; Sky Amusement Park; Maggie Valley Playground 700 ft; Cataloochee Ranch 3.3 mi; Dog walking 5 mi; Hazelwood Recreation Park 6 mi; Waynesville Recreation Park 7 mi; Waynesville Skate Park 7 mi; Lynns Park 11 mi; Clyde Park 11 mi; Bryson Park 12 mi; Sylva Recreation Park 12 mi

WHY RELOCATE TO ASHVILLE MSA: Asheville is consistently ranked among the top places to visit in the U.S. and even the world, by prestigious travel sites like US News & World Report, Today, Lonely Planet, USA Today and Frommer’s due to breathtaking scenery of the Blue Ridge Parkway, which connects the Great Smoky Mountains National Park with the Shenandoah National Park, variety of craft beers and spirits matched by a culinary scene that ranges from reimagined Southern cuisine prepared by James Beard-nominated chefs to Indian street food, marvelous music from traditional mountain music to electronica to the drum circle, River Arts District, and outdoor activities like hiking, biking, zip lining, whitewater rafting, scenic drives and leisurely boat rides down the French Broad River.

ASHEVILLE METROPOLITAN STATISTICAL AREA

Maggie Valley is part of the highly desirable Asheville Metropolitan Statistical Area and only 30 miles away from Asheville. The Asheville Metropolitan Statistical Area is a $20.3 BILLION economy (current dollars) that encompasses Buncombe, Haywood, Henderson, and Madison Counties. In the heart of Blue Ridge Mountains, Asheville is vibrating with culture, community, business and tourism. Asheville is approximately equidistant to Chicago, New York, Tampa, and New Orleans. The Great Lakes, Mississippi River, and Gulf of Mexico are within a 500 mile radius of Asheville. With the top connected non-hub airport in the country, and easy access to major city hubs like Charlotte, Greenville and Atlanta, short commute times, endless outdoor activities and low cost of living compared to major big cities, Asheville is the fast growing city in Western North Carolina you can call home. Asheville is situated in a valley at 2,134 feet elevation, surrounded by much higher peaks including Mt Mitchell 6,684 feet, the highest peak east of the Mississippi River.

ASHEVILLE MSA RANKINGS

2023
Asheville ranked #3 on “The South’s Best Cities” —Southernliving.com, 2023
Asheville ranked #10 on list of “Best Food Destinations in U.S.” —Tripadvisor.com, 2023
Asheville is one of the “Top 25 Cities for Employee Ownership 2022” —CertifiedEO.com, 2023
North Carolina was named Business Facilities’ “2022 State of the Year” — Businessfacilities.com, 2023
Asheville named one of the Top 50 Small Cities to Start a Business — WalletHub.com, 2023

2022
Asheville is one of “The 25 Best Places to Enjoy Your Retirement in 2022” —Forbes.com, 2022
Asheville is one of the “10 Best Cities to Visit for Art Lovers” —Bestlifeonline.com, 2022
Asheville is the 9th “Best Small College Area to Live and Study in the U.S.” —Universitybusiness.com, 2022
North Carolina ranked #1 among “America’s Top States for Business” and has the nation’s strongest economy —cnbc.com, 2022
Asheville named one of the Top 50 Small Cities to Start a Business — WalletHub.com, 2022
Asheville ranked as #7th Fastest-Growing Tech Hub in America —LinkedIn.com, 2022
Asheville is 4th in “Best Places to Live in North Carolina” —U.S. News and World Report, 2022
Asheville ranked #19 in the “Top 100 Best Places to Live in America”—Livability, 2022
Asheville is 46th in “Best Places to Live in U.S.” —U.S. News and World Report, 2022
Asheville ranked as one of “12 of the Best Spots for a Family Mountain Vacation in the U.S.” — Thefamilyvacationguide.com, 2022
Asheville ranked #10 on a list of “Trending Destinations in the U.S.” —Tripadvisor.com, 2022
Asheville is one of the “10 Best Cities to Travel Solo in the U.S.” —dlmag.com, 2022
Asheville ranked Asheville ranked #1 “Foodie City in the U.S.” —Yelp, 2022

2021

Asheville is 14th in “Best Places to Retire” —U.S. News and World Report, 2021
Asheville is 4th in “Best Places to Live in North Carolina” —U.S. News and World Report, 2021
Asheville is 48th in “Best Places to Live in U.S.” —U.S. News and World Report, 2021
Asheville ranked #19 on the “Top 100 Best Places to Live in the U.S.”— livability.com, 2021
Asheville’s River Arts District named one of the “hippest neighborhoods to hang out in” — msn.com, 2021
Asheville ranked one of “The Best Places to Retire in 2021” — Forbes.com, 2021
North Carolina ranked as the #1 “Best States For Business” for 4th year in a row— Forbes.com, 2020
Asheville ranked as the “Most Beautiful Small City” in North Carolina — msn.com, 2021

2020
Asheville ranked 7th in Money Magazine’s “Top 10 Places to Retire” — Money.com, 2020
Asheville #9 among “Top 15 Cities in the United States” — TravelandLeisure.com, 2020
Asheville ranked #6 on the “Top 100 Best Places to Live in the U.S.” — Livability.com, 2020
Asheville ranked one of “The Best Places to Retire in 2020” — Forbes.com, 2020
Asheville ranked 5 of the Top 50 of “America’s Best Small Cities” — BestCities.org, 2020
Buncombe County named “One of the Best Counties in North Carolina for Small Business” — SmartAsset.com, 2020
North Carolina ranked as the #1 “Best States For Business” for 3rd year in a row— Forbes.com, 2020
Asheville ranked 3 of the Top 50 Best Places to Travel in 2020 — Travel + Leisure, 2020

2019
Asheville named the “Prettiest Town” in North Carolina — The Daily Meal, 2019
Asheville ranked 4 of the Top Best Places to Retire in the US — U.S. News and World Report, 2019
Asheville ranked as one of the top 15 “Best Places For Business and Careers” — Forbes.com, 2019
Asheville named one of the Top 50 Small Cities to Start a Business — WalletHub.com, 2019
Asheville named one of the Top 25 Best Cities for Manufacturing Jobs — Kempler Industries, 2019
Asheville ranked one of the Top 20 Best Places to Live in America — U.S. News and World Report, 2019
Asheville ranked one of the Top 10 Music Cities in America — National Geographic Traveler, 2019

ASHEVILLE MSA KEY ECONOMIC DRIVERS 

Steady Population Growth: Asheville MSA population is projected to reach 500,000 by as early as 2025.

60 Mile Radius (Estimates county total if radius touches any part of the county. 39 counties are included).
Population: 3,400,000 | Jobs: 1,380,000

Healthcare: The largest sector of employment in 2019 was Health Services & Private Education

Retail and Manufacturing: Manufacturing experienced considerable growth 2018-2019. Publix, Ingles, Walmart, and Lowe’s are the largest retailers in the region with a sizable chunk of 2,500+ mid-sized and small businesses that also contribute as a major part of the puzzle.

Tourism: Tourism is a driver of the Asheville Area economy. Estimated 10+ million people visit Asheville each year — and Asheville MSA’s ~$2.6 billion in spending — have played a major role in Leisure and Hospitality sector’s growth over the last decade. The Biltmore and Omni Hotels are the largest employers, followed by 1,400+ other hotels, restaurants, and small businesses. The Biltmore Estate is the largest private estate in the US. (Photo Below)   

CENTRAL SOUTHEAST LOCATION

Taking advantage of a central location midway between Washington, D.C. and Miami, Asheville is easily accessible from all major East Coast markets, including Canada. Operating in the Eastern Time Zone, the Asheville MSA offers practical market access via same-day communication and direct flights to ten major East Coast cities. Surrounded by Appalachia’s Blue Ridge and Great Smoky Mountains, and home to a slice of the Blue Ridge Parkway, Asheville has claimed its place as an iconic destination deep in the southern highlands that is convenient as it is scenic.

EDUCATION

Asheville is home to University of North Carolina Asheville (UNC Asheville)—a four year liberal arts university that’s part of the UNC system with 3,600 students. Montreat College, Warren Wilson College and Mars Hill University are also nearby. A-B Tech, Asheville’s community college, offers both general and trade curriculums for students of all ages. Western Carolina University and Lenoir-Rhyne University Center for Graduate Studies of Asheville offer graduate and professional degrees with locations in the Asheville area.

Public schools K-12 in the Asheville area offer time-honored teaching methods combined with experiential learning. The community values teachers and often pitches in to support efforts both in and outside the classroom. Asheville’s six elementary schools operate as a magnet school system. The district has four secondary schools, while the county 23 elementary, four intermediate, and 18 secondary schools. Asheville city and Buncombe county mean SAT scores are well above the mean North Carolina scores and exceed the U.S. mean scores. Asheville is also home to a number of private schools, including some of the best boarding schools in the US.

ARTS AND CULTURE

Asheville loves a party, and whatever you want to celebrate, from beer to music to honey, chances are there’s a festival for it. Brew-themed bashes are on tap year-round. Get the chance to put your taste buds to work with festivals that feature everything from specialty beers to sours from both local brewers and national names, alike. And because nothing goes better with beer than bluegrass, you can experience the best of Southern Appalachia blues and brews at the many craft-themed events held throughout the year.

To get a taste of Asheville’s diverse roots, check out the Mountain Dance and Folk Festival every August that pays tribute to the region’s Scottish, English, Irish, Cherokee and African musical heritage. In September the Goombay Festival fills downtown Asheville with African-Caribbean food and the sounds of gospel, reggae, funk and soul. During the depths of winter, the Asheville Fringe Arts Festival livens up downtown with innovative theater, dance, and spoken word performances. And in August Black Mountain’s annual Sourwood Festival celebrates the region’s prized sourwood honey.

ASHEVILLE MSA RESTAURANTS

Asheville MSA restaurants run the gamut from barbeque to vegetarian, to seafood, four-star cuisine to down-home cooking, and literally every kind of ethnicity in-between.

Restaurants and Cafe/Bars near the Hotel: Joey’s Pancake House – 5 min walk; Pop’s Butts On The Creek BBQ – 5 min drive; Country Vittles – 9 min walk; Haywood Smokehouse – 16 min drive; Frankie’s Italian Trattoria – 5 min drive; Guayabitos; J Arthur’s Restaurant; Taco Bell; Luna; Valley Tavern; Legends Sports Bar & Grill; The Valley House Homestyle Cooking; Organic Beans Coffee Co.; Snappy’s Italian Restaurant & Pizzeria; Smokey Shadows Lodge and Country Dining; Sippers In The Valley; The Old Gray Mare; B & C Winery; Pin High Bar & Grille; Bearwaters Brewing – Creek Side; Pop’s Place Biscuits, Burgers and BBQ; Pavino’s Italian Pizzeria & Bistro; Cafe Italiano Restaurant & Pizzeria; Salty Dog’s Seafood & Grill; Brickhouse Burgers & Pizza; Maggie Valley Sandwich Shop; Maggie Valley Restaurant; Jelly Bellies

ASHEVILLE – THE “BEER CITY”

Asheville has always been the center of the craft beer universe, at least since 1994, when Oscar Wong, a retired engineer, opened Highland Brewing Company in a rustic basement space below Barley’s Taproom and Pizzeria in downtown Asheville. Today, Asheville has earned the designation, Beer City USA, with more craft breweries per capita than any other US city. Beer City Festival is held in late spring, Winter Warmer perks up the winter doldrums and Brewgrass marks the start of leaf-peeping season in early fall.

MAGGIE VALLEY

Maggie Valley is a town in Haywood County, North Carolina. The population was 1,150 at the 2010 census. A popular tourist destination, it is home to Cataloochee Ski Area and the former Ghost Town in the Sky amusement park. Maggie Valley is part of the Asheville Metropolitan Statistical Area. The community gets its name from Maggie Mae Setzer; her father John “Jack” Sidney Setzer founded the area’s first post office and named it after one of his daughters.

HAYWOOD COUNTY MAJOR EMPLOYERS

Haywood County Schools, Evergreen Packaging, Haywood Regional Medical Center, Ingles Markets, Inc, County of Haywood, Consolidated Metco Inc, Haywood Vocation Opportunities, Haywood Community College, Wal-Mart Associates Inc., Town of Waynesville, Giles Chemical Division, Lowes Home Centers Inc, Dlp Western Carolina Physician Practices, Silver Bluff Nursing Home,  Cataloochee Ski Area, Publix Super Markets, McDonalds Restaurants, Meridian Behavioral Health Services, Mountain Projects Inc, Maggie Valley Nursing & Rehab Health Services, Ken Wilson Ford Inc, AmeriPride Services, Waynesville Automotive Group.

ASHEVILLE MSA ECONOMIC DEVELOPMENT

GE AVIATION, a global leader in jet engine production, has invested nearly $250 million in upgrades of its operations across North Carolina during the past five years – including one the company says is transforming the commercial jet industry. The centerpiece of the company’s upgrades is a new 170,000-square-foot plant in Asheville, one of the first in the world using new technology to mass produce ceramic matrix composite (CMC) components for LEAP and other jet engines.

California-based SIERRA NEVADA BREWING CO. chose Mills River, a small town near Asheville, North Carolina for its new $100 million brewery now serving as its East Coast headquarters. The craft beer maker is one of the nation’s largest.

PRATT & WHITNEY, a division of Raytheon Technologies Corp. plans to invest approximately $650 million and create 800 jobs through 2027 in Asheville. The project will bring a new high-tech turbine airfoil production facility to Buncombe County.

California-based Fox Factory Holding Corp., a manufacturer and marketer of high-performance suspension parts used in mountain bikes, is establishing a regional headquarters in south Asheville, creating 47 new jobs over the next five years.

NORTH CAROLINA TOURISM

North Carolina’s tourism industry achieved record performance in 2022, with commercial lodging revenues reaching an all-time high at $4.6 billion. According to EDPNC, preliminary figures show that 2022 will likely surpass 2021’s record of $26.8 billion in direct spending. 

NORTH CAROLINA, AMERICA’S TOP STATE FOR BUSINESS BY CNBC (2022)

With companies like VinFast, Wolfspeed, Boom Supersonic, and Eli Lilly and Company announcing projects in North Carolina this past year, North Carolina consistently ranks as one on the best states in the United States to do business and as the largest city in Western North Carolina, Asheville both contributes to and benefits from the state’s superior business assets. The state’s prime location puts businesses within 700 miles of 170 million U.S. and Canadian consumers, and more than half of the U.S. population is only a one-day’s drive away. 

WYNDHAM HOTELS FRANCHISING

Ramada is an iconic brand that has been serving business and leisure travelers around the world since 1954. Combining an impressive global footprint with strong brand awareness, Ramada is an important member of the Wyndham Rewards family. Owners receive the dedicated support of the world’s largest and most diverse hotel company, with the flexibility to enhance a great brand experience with their own local flair.

• 77% total U.S. central reservation contribution with 42% of total stays contributed by Wyndham Rewards members
• Maximize ROI right away with minimal up-front investment
• Sensible F&B and operational requirements drive bottom-line savings

Downtown Asheville At Dusk, North Carolina 

Photo Courtesy: Michael Tracey – https://www.flickr.com/photos/mogmismo/15445314911/

Listing By: M Hotels, LLC

Call Madhur Gupta at (919) 428 9840 for Hotels for Sale and Hotel Loans.

એમ હોટેલ્સ સાથે હોટલ અને હોટલ લોન બંને મેળવો.

*CONFIDENTIAL SALE. Do not call or visit the property without an appointment. All appointments, questions, offers and offer negotiations to go through broker.

Information in this listing has been provided by reliable third parties, but is not guaranteed and is subject to change without notice. Buyers must independently verify this information for accuracy or completeness.

CONTACT: For access to more listed and off-market hotels for sale, exclusive listings, confidential hotel sales, and hotel loans, call Madhur Gupta at (919) 428-9840.