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Econolodge Hotel for Sale
Santa Fe, New Mexico
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Property Description
| The Econolodge located at 3470 Cerrillos Road is within the Cerrillos Road corridor in southwestern Santa Fe which is approximately three miles northeast of Interstate 25 and 3.5 miles east of the Santa Fe Airport. |
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The entire property contains 4.8470 acres of fee land. The improved site (Econolodge) sits on approximately 1.8564 acres. Access to the excess land is via the improved site. |
The Econolodge is a 76-guest room, limited service hotel with interior corridors built in 1992. The property has a breakfast lounge, indoor pool, spa, and sauna.
Room configuration:
- Standard Double 52
- Standard King 24
- Total 76
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The guest rooms have a wall-mounted individual controlled heating and cooling unit. Heating and cooling for the common areas is provided by wall-mounted combinations units. The entire building is equipped with a fire protection sprinkler system with smoke detectors and fire alarms in each guest room.
Amenities include:
- Electronic door locks
- In-room coffee makers/hairdryers/iron and ironing board
- Microwave/refrigerator in selected rooms
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| Santa Fe’s economy has been based largely on tourism and state government. As capitol of New Mexico, the government is the largest employer in the area. |
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Santa Fe receives an average of 1.6 million visitors annually; in 2004, readers of Conde Nast Traveler magazine ranked Santa Fe second only to San Francisco as the best travel destination in the country. |
Financial Summary
| Price |
$3,600,000 |
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| Number of Units |
76 |
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| Price Per Room |
$45,570 |
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| 12 Months Ending |
10/2009 |
6/2010 |
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| Room Revenue |
$675,992 |
$620,771 |
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| Occupancy |
47.8% |
46.65% |
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| Average Daily Rate |
$49.03 |
$47.97 |
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