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Radisson Hotel Louisville North
Price:
$11,500,000
$10,750,000
[Currently Under Contract]
Address :
505 Marriott Dr
Clarksville, IN 47129
Improving performance in both revenues and profitability
Excellent physical condition with just under $1,700,000 in renovations over the past three years as part of conversion to Radisson
Approximately $32,500 per room renovated
2.25 multiple of trailing 12 month room revenues
Well located in metro Louisville market, near downtown and major interstates
Location/Market
Physical Plant
Financials
Located north of the Ohio River, Clarksville is part of the Louisville Metropolitan Statistical Area, which is home to 1,293,873 people
Well-Developed Sub-Market with Numerous Restaurants, Retail & Travel-Related Services
Great Visibility & Market Presence With Easy Access to Interstate 65
Only Minutes from Downtown Louisville
Adjacent to Atlantis Water Park
Close to Regional Demand Generators:
2 Miles to Belle of Louisville Steamboat
2 Miles to the Louisville Slugger Park & Museum
8 Miles to Churchill Downs & the Kentucky Derby Museum
9 Miles to River Ridge Commerce Center
9 Miles to Louisville Zoo
13 Miles to Horseshoe Southern Indiana
Two 3-Story Buildings
One 9-Story Building
Interior Corridors
Concrete and Steel Structure
Brick Veneer Exterior Walls
Flat, Built-Up Roof
Asphalt Parking Lot (±835 Spaces)
Champions Grille & Quarter Pole Lounge
Meeting Space (15,694 Sq. Ft.)
Guest Laundry, Business Center, Wireless Internet, Fitness Center
Indoor Pool, Outdoor Pool with Sundeck, Miniature Golf Course, Outdoor Tennis Court
Beauty Salon, Atlantis Water Park (Seasonal), Helicopter Pad
±19.962 Acres
Built 1969, Tower Added 1973
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Financials
2016
2017
2018
2019
T-12Mos 2/20
Occupancy
50.97%
42.84%
44.03%
48.05%
48.55%
Average Daily Rate
$82.26
$84.37
$91.16
$89.08
$89.13
RevPar
$41.93
$36.15
$40.14
$42.80
$43.27
Room Revenue
$5,417,293
$4,657,499
$5,160,608
$5,515,018
$5,585,963
Total Revenue
$6,497,629
$5,567,691
$6,158,669
$6,567,167
$6,630,117
Net Operating Income
$880,095
$(112,458)
$591,054
$804,480
$829,227
This is a confidential offering intended for the recipient's use in determining the advisability of negotiating for purchase. Do NOT Contact the Property Directly! All Showings by Appointment Only!
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