Best Western, Duchesne, UT 52 S 500 W St, Duchesne , UT 84021

Best Western, Duchesne, UT 52 S 500 W St, Duchesne , UT 84021 O F F E R I N G M E M O R A N D U M Best Western Duchesne, UT CONTENTS 01 Executive Summary Investment Summary 5 Market Summary 6 Location Summary 7 02 Property Description Property Features 11 Property Photos 12 03 Demographics Demographics 17 Demographic Charts 19 Exclusively Marketed by: Trenton Bright Paul Pursell Daniel Davis Cole Waterfall Associate Broker Director Sales Agent Sales Agent Lic: 7961776-AB00 Lic: 9894235-AB00 Lic: 11123399-SA00 Lic: 7839895-SA00 (435) 820-6801 (631) 245-4044 (435) 650-4294 (385) 347-2457 trent@apex-cre.com paul@apex-cre.com daniel@apex-cre.com Cole@apex-cre.com We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction. Best Western Duchesne, UT Disclaimer | 03 Confidentiality & Disclaimer All materials and information received or derived from KW South Valley Keller Williams its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. Neither KW South Valley Keller Williams its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. KW South Valley Keller Williams will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third-party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW South Valley Keller Williams makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW South Valley Keller Williams does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by KW South Valley Keller Williams in compliance with all Copyright © 2021 CREOP, LLC. All Rights Reserved. applicable fair housing and equal opportunity laws. Best Western Duchesne | Executive Summary 01 Executive Summary Investment Summary Location Summary BEST WESTERN DUCHESNE ................................................ Best Western Duchesne, UT Investment Summary | 05 OFFERING SUMMARY ADDRESS 52 S 500 W St. Best Western Duchesne, UT Duchesne UT 84021 APEX Commercial Real Estate | KW South Valley Keller Williams is pleased to COUNTY Duchesne present the sale of the Best Western in Duchesne, UT, an Mid-Scale/Limited- Service property is located on the West end of Main Street on US Highway 40 and MARKET Leisure & Recreation US Highway 191. BUILDING SF 36,491 SF This 3-story, 60-room, interior-corridor property was built in 2014 and operated as TOTAL ROOMS 60 an independent extended stay hotel in prior years. This property went through a full LAND SF 111,949 SF renovation beginning at the end of 2018 and was completed in the 2nd quarter of 2019. It was converted from a independent hotel into a Best Western branded YEAR BUILT 2014 hotel, which substantially increased revenue and occupancy immediately. APN 00-0000-5490, 00-0031-4389 This property features all basic services for a property of this type, and offers OWNERSHIP TYPE Fee Simple additional amenities including 31 kitchenette rooms, swimming pool, spa, fitness center, breakfast area, lounge, sundries shop, business center, and vending and ice machines. FINANCIAL SUMMARY Strong Revenue and Upside Potential OFFERING PRICE $5,000,000 Even in the midst of the Covid-19 difficulties this property has continued to perform PRICE PER KEY $83,333 exceptionally well by maintaining strong revenue numbers through the unforeseen OCCUPANCY (2020) 37.50% pandemic. In 2020 the hotel achieved a 30% increase in revenue and a 8% increase in occupancy Year-over-Year. As the travel restrictions are eased and the hotel continues to stabilize, the business of the hotel and the revenue is expected to increase in the upcoming season and into the future. Strong Performing Branded Asset The Best Western offers prospective buyers the opportunity to acquire the only branded asset in the local market. Best Western Hotels & Resorts, headquartered in Phoenix, Arizona, is a privately held hotel brand with a global network of approximately 4,700 hotels in over 100 countries and territories worldwide. The benefit to a branded property, specifically Best Western, is its renowned membership business and its loyalty reward program. Unencumbered by Management The hotel is ideally offered unencumbered by management, providing a buyer with full optionality, including new management. High Visibility In-Town Location The Best Western boasts an excellent Main Street and Highway 40 location, which is the main entrance to town for those travelers coming from the west, mainly Salt Lake City which is within a 2 hour drive. Best Western Duchesne, UT Market Summary | 06 Market Summary Recreation & Tourism "Because much of this decline is not caused by underlying fundamental economic Duchesne County has identified the recreation and tourism industries as part of problems, most market segments should start to see meaningful relief in the first its economy and tax base. These industries have a stabilizing effect on the and second quarter of 2021. Destinations with appealing natural amenities such economic cycles of agriculture and the oil and gas industry. Public lands are a as beaches and mountains have already seen a high influx from pent-up demand critical component of tourism and recreation in Northeastern Utah. this summer and will likely hold steady through the fall. Drive-to locations are also experiencing increased occupancy levels." Federal, state, county, and even private lands offer a broad range of recreational Source: https://www.hospitalitynet.org/opinion/4100921.html opportunities, including camping, hiking, fishing, hunting, horseback riding, biking, nature appreciation, interpretive trips, wildlife watching, boating, and other Duchesne County enjoys a strong economic base and employment profile. tourism-related activities. Public lands also support businesses that offer such However, recent reports show that a relatively small number of industries opportunities to the public, including outfitters and guides, whitewater rafting, (especially the energy industry) generate the majority of economic returns. In an outdoor camps, wilderness/survival schools, and dude ranches. effort to decrease "single industry dependence", the County will continue to support the economic diversification strategies of the Duchesne County Chamber A variety of recreational opportunities and experiences are available for residents of Commerce. These efforts include, but are not limited to, business retention and and visitors alike to enjoy in Duchesne County. The Uinta Mountains have more expansion, value-added agriculture, tourism and recreation. than 1,000 natural lakes and small streams, over half of which support populations of game fish. Many of the trailheads in this beautiful backcountry are

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