Frisco, Colorado TABLECONTENTS OF
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Discover the Possibilities Frisco, Colorado TABLECONTENTS OF Invesment Overview 04 Property Description 05 Financial Highlights 08 Investment Highlights 12 Colorado Ski Resort Map 13 Area Amenities 16 Amenities Map 17 1202 SUMMIT BOULEVARD 3 OFFER SOLICITATION PROCESS Property Visitation Prospective purchasers will have the opportunity to visit the property via pre-scheduled property tours. Offer Submission Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the purchaser's offers including, but not limited to (1) asset pricing, (2) due diligence and closing time frame, (3) earnest money deposit, (4) a description of the debt/equity structure, and (5) qualifications to close. Offers should be delivered to the attention of [email protected] EXCLUSIVELY OFFERED BY KEVIN MCKINNON BRIAN WINGATE NATHANIEL PERRY 4643 S. Ulster Street, Suite 300 Senior Vice President Associate Vice President Associate Denver, CO 80237 303.407.1456 303.952.5595 303.407.1458 303.639.3000 [email protected] [email protected] [email protected] transwestern.com/denver 04INVESTMENT OVERVIEW Transwestern, acting exclusive Agent (Broker) to the Seller, is pleased to present the opportunity to acquire the Baymont Inn & Suites Frisco Lake Dillon (the “Property” or “Hotel”). This exceptional Wyndham branded destination hotel, located at the forefront to the Gateway to the Rockies, provides immediate and unmatched access to seven world-class ski resorts, and all major points of interests in the Colorado Rocky Mountain Region. The property features 127 exceptionally appointed guestrooms nestled at the base of Summit County. Adjacent to I-70 and along Highway 9, this property provides unparalleled access and visibility to all Rocky Mountain travelers and tourist. This destination hotel is ideal for all winter and summer outdoor sports enthusiasts who travel from around the world to experience over 18,385 acres of magnificent, skiable terrain and countless summer activates and festivals. The hotel is just steps away Lake Dillon, Frisco Adventure Park, the Peninsula Recreation Area, award-winning restaurants, bars and a host of big-box and boutique retailers, including Wholefoods’ flagship Rocky Mountain location. In addition to the immediate conveniences, this gateway destination is just minutes away from Vail Resorts’ most prestigious mountains; Vail, Beaver Creek, Breckenridge, and Keystone, as well as Arapahoe Basin and Copper Mountain. 1202 SUMMIT BOULEVARD 5 Property Name Baymont Inn & Suites Frisco/Lake Dillion AMENITIES: • Breakfast/Café Address 1202 Summit Boulevard, Frisco, CO 80443 • Conference/Meeting Room Hotel Brand Wyndham Hotel Group, Baymont Inn & Suites • Fitness Facility Year Built 1980 • Pool/Whirlpool • On-site Restaurant Renovated 2015-2016 • Adjoining Rooms Available Acres 2.99 Acres or 130,169 SF • Banquet Facilities Building SF TBD • Event Planning Services Number of Rooms 127 • Bus/Truck Parking 20 – King Suite • Free WiFi 8 – King Suite (Handicap Accessible) • Full-service Housekeeping 14 – Executive 3 Queen Unit Breakdown • Multilingual Staff 4 – Executive 2 Queen with Bunk Bed 24 – Executive 2 Queen • Pet Friendly 57 – Standard 2 Queen • RV Parking UNCUMBERED MANAGEMENT This asset may be purchased with no management restrictions, thus allowing upside investors to leverage their expertise to take full advantage of the properties resort attributes, potential brand upgrade, re-brand and/or property updates. 06INVESTMENT OVERVIEW ON-SITE AMENITIES: INDOOR POOL OUTDOOR GAME ROOM 24 HOUR ON-SITE BREAKFAST & WHIRLPOOL SUNDECK BUSINESS CENTER RESTAURANT CAFÉ All of which complement the unobstructed 360-degree views of picturesque mountain ranges and the vibrant artisan mountain town of Frisco. Ownership has maintained and improved the property with more than $1 million in renovations and upgrades to the rooms and common areas. Rebranded in 2014, and unencumbered by management, the Baymont Inn & Suites Frisco Lake Dillon represents an opportunity to acquire a well-performing/financially thriving, exceptionally located, major resort market hotel in the most dominate mountain tourism corridor in the nation. 1202 SUMMIT BOULEVARD 7 08FINANCIAL HIGHLIGHTS The hotel is sharply climbing in all aspects of the financial outlook. Some of the driving forces behind these dramatic increases are the economic growth from robust year-round tourism leading to greater demand on the hotel market, substantial and continual improvements to the transportation and surrounding developments and infrastructure, and the hotels’ convenient central location and immediate access to all major attractions and accommodations. • Year-to-date the hotel is 9.19% higher in total revenue than in the same period for 2015 • ADR has increased by approximately 23.25% since the Seller purchased in April of 2014, substantially surpassing the surrounding competitive set • NOI has significantly increased, largely due to the increase in total revenue, occupancy, RevPAR, and the decrease in expenses DOWNTOWN FRISCO 1202 SUMMIT BOULEVARD 9 EXECUTIVE 3 QUEEN ROOM 1202 SUMMIT BOULEVARD 119 LAKE DILLION 12INVESTMENT HIGHLIGHTS VISIT THE #1 MOUNTAIN TOURIST DESTINATION • Colorado is the #1 destination for skier visits nationwide and visitation to Colorado ski areas topped 13 million for the first time ever in 2015-16 • Summit County is home to 4 of the top 10 visited ski resorts in Colorado; Breckenridge, Keystone, and Copper Mountain and Arapahoe Basin • Neighboring Vail is the most visited ski resort in the nation and top 5 in the world • Vail Resorts, owner of 4 of the 7 world-class neighboring ski resorts (Vail, Beaver Creek, Breckenridge, and Keystone), reported a 36 percent increase in lodging returns in 2015 • Vail Resorts reported their 2016 visitors increased by 17.4%, over 2x higher than the Rocky Mountains’ Region Average, and 35x higher than the average nationally • Industry-leading Epic Pass (which includes unlimited access to Vail, Beaver Creek, Breckenridge, Keystone and Arapahoe Basin), climbed $37.1 million over the previous season, a 22% spike • The Epic Passes represent a strategic advantage for the property, as its centralized location will allow Epic pass holders the ability to easily access multiple resorts from one convenient location 1202 SUMMIT BOULEVARD 13 DENVER INTERNATIONAL AIRPORT EAGLE / VAIL AIRPORT SILVERTHORNE DILLION 90 MINUTES AWAY LOVELAND 20 MINUTES AWAY BEAVER CREEK ARAPAHOE BASIN DENVER 40 MINUTES AWAY VAIL FRISCO 25 MINUTES AWAY 60 MINUTES AWAY 30 MINUTES AWAY KEYSTONE COPPER MOUNTAIN 20 MINUTES AWAY 7 MINUTES AWAY BRECKENRIDGE 15 MINUTES AWAY HIGHWAYS CITY SKI RESORT AIRPORT SUMMIT STAGE BUS ROUTE BUSTANG BUS ROUTE 14INVESTMENT HIGHLIGHTS DAILY PEAK TRAFFIC COUNTS MARCH JULY MARCH JULY 42,286 49,146 29,071 33,786 Directly adjacent to the property is the Frisco Transit Center (“FTC”), Summit County’s busiest transportation hub. This is the only Transit hub for all of Summit County, along with connections to Vail and Beaver Creek. Within the station, the Summit Stage Shuttle provides free transportation to Breckenridge, Keystone, Arapahoe Basin and Copper Mountain and is used by over 1,750,000 people annually. The “FTC” Master plan includes a planned addition of an Eagle County Connector route within the next 5 years, which will provide free access to Vail and Beaver Creek. Currently, ”FTC” provides access to Vail and Beaver Creek through other economical bus and shuttle options, such as Bustang, Colorado Mountain Express, Peak One Express, Summit Express and Fresh Tracks Transportation. ”FTS” also provides access to the Link/Lake Route, and Silverthorne/Dillon Route (Silverthorne Outlet Mall, and numerous additional dining, shopping and entertainment options), as well as Grey Hound Bus and Hertz Car Rentals. Bike rentals are also provided at Frisco Transit Station from local partners Pioneer Sports and Epic Mountain Gear. In addition to receiving a $1.6 million dollar grant from the Colorado Department of Transportation, Summit County has approved a budget of $8.6 million dollars for expansion and improvements to the “FTC”. 1202 SUMMIT BOULEVARD 15 16AREA AMENITIES Neighboring the hotel on 3 sides, are 4 major grocers; the new Wholefoods, new Natural Grocers, Safeway, and Walmart. Wholefoods, known for choosing the best locations based on market fundamentals, is located adjacent to the property, within the Basecamp retail development, at the primary interchange of I-70 and Highway 9 – in the center of Colorado Ski Country USA. Easily accessible from the hotel are numerous restaurants, bars, fast casual, fast food, café, coffee and boutique shops in Frisco, as well as neighboring towns of Silverthorne, Dillon, Breckenridge, Keystone, Copper Mountain, and Vail Valley. WHOLE FOODS BASECAMP KEY MARKET STATS: 1,000,000 4,700,000 1,000,000 1,750,000 30,000 WINTER VISITORS SKIER DAYS SUMMER VISITORS ANNUAL SUMMIT STAGE SECOND HOMES SYSTEM RIDERS KEYSTONE, ARAPAHOE BASIN & LOVELAND 1202 SUMMIT BOULEVARD 17 BAYMONT INN DILLION RESERVOIR FRISCO TRANSIT CENTER FRISCO BAY FRISCO ADVENTURE PARK MAIN STREET FRISCO BAY MARINA SUMMIT BLVD FRISCO ST. ANTHONY SUMMIT MEDICAL CENTER COPPER MOUNTAIN, VAIL & BEAVER CREEK MAIN STREET SHOPS • Backcountry Brewery • 5th Avenue Grill • Moose Jaw • Ollie’s Pub & Grill • Frisco Mall • Rebel Sports • Silverheels Bar & Grill • Butterhorn Bakery • Boatyard Grill • Rivers Clothing Company • Log Cabin Cafe