Acquisition Opportunity for Multi-Family Conversion
US Hotel advisors is pleased to present the opportunity to acquire the fee-simple interest in the existing 246-room full service Travelodge by Wyndham Hotel, Memphis Airport/Graceland. In January 2022, the Hotel was granted a variance from the local zoning code, allowing the Property to be converted to multi-family / mixed retail use. In addition, the Hotel currently features three food and beverage spaces totaling ~365 seats and approx. 5,000 sq. ft. of combined meeting & event space which could be leased to third-party operators. F&B income potentials from these facilities are estimated to be $1.5M-$2M yearly. The Property also features a 5.50-acre land area which includes a desirable unused corner lot of ~35,000 sq. ft. which could accommodate a retail and/or restaurant pad.