Dinesh “Dan” Rama of newGen Commercial Realty has listed a franchise Kentucky hotel for sale priced at 2 times room revenue or less than $9,000 per key. The 89 guest room property is located just south of Cincinnati, Ohio and is in the 8th largest city in Kentucky. The city is home to a large number of employers in the industrial field and many service related industries.
The Travelodge has undergone minor cosmetic renovations and is in fair condition. The lack of competitive sites for new hotels and motels plus the high cost of lank makes future addition of competitive hotels and motels unlikely.
The hotel started operations as a Travelodge more than 8 years ago but took a revenue decline due to the economic recession on top of the illness and death of the owner. Current management has been unable to make capital improvements or invest in effective marketing. This hotel offers incredible upside potential for a new owner / operator.
newGen Commercial Realty is a national hospitality firm specializing in investment, construction, brokerage, management, and consulting. This Arizona based hotel services firm was created by a group of well seasoned real estate professionals who are also owner/operators. Understanding the unique challenges of hotel development and operations, newGen Commercial can recognize, evaluate and execute all hotel projects from time of conception to the point of consistently high STR performance.
Dinesh “Dan” Rama co-founded newGen Commercial and is its designated broker. Throughout Mr. Rama’s career, he has been involved with over $300 Million of hospitality assets. He has brokered and advised clients on acquiring, merging, and divesting of hospitality assets throughout the United States. He is a licensed Arizona Real Estate Broker and a member of the Arizona Board of Realtors. Additionally, he is an ambassador and member of the Asian American Hotel Owners Association.