La Quinta by Wyndham St. George 91 E 2680 S, St

La Quinta by Wyndham St. George 91 E 2680 S, St. George UT 84790

O F F E R I N G M E M O R A N D U M La Quinta by Wyndham St. George

CONTENTS

01 Executive Summary Investment Summary Executive Summary Competitive Map Attractions Map Parcel Map

02 Property Description Property Features 14 Floor Plan 15 Property Images 16

03 Demographics Demographics 23 Demographic Charts 25

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Trenton Bright Paul Pursell Cole Waterfall Daniel Davis Associate Broker Director Sales Agent Sales Agent Lic: 7961776-AB00 Lic: 9894235-AB00 Lic: 7839895-SA00 Lic: 11123399-SA00 (435) 820-6801 (631) 245-4044 (385) 347-2457 (435) 650-4294 [email protected] [email protected] [email protected] [email protected]

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. La Quinta by Wyndham St. George Confidentiality and 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 © 2019 CREOP, LLC. All Rights Reserved. applicable fair housing and equal opportunity laws. LA QUINTA BY WYNDHAM ST. GEORGE ST. WYNDHAM BY QUINTA LA

Executive Summary Investment Summary Executive Summary Competitive Map Attractions Map Parcel Map ...... 01

La Quinta by Wyndham St. George | Executive Summary La Quinta By Wyndham St. George Investment Summary | 05

OFFERING SUMMARY ADDRESS 91 E. 2680 S. St. George, UT COUNTY Washington APEX Commercial Real Estate | KW South Valley Keller Williams is pleased to BUILDING SF 67,583 SF present the sale of the La Quinta Inn and Suites St. George, which is part of TOTAL ROOMS 104 Wyndham's Franchise. The Property, originally opened in 2007 on the south end of the city of St. George. The magnificent facade of St. George continues LAND SF 166,834 SF to impress guests as they first glance at the marvelous landscape and YEAR BUILT 2007 beautiful red rocks. APN SG-3DCC-13-A OWNERSHIP TYPE Fee Simple OCCUPANCY VALUE ADD The La Quinta performs exceptionally well, however there is some value add FINANCIAL SUMMARY opportunity because the current owners do not target their occupancy percentage when on average it is around 70%. Lowering the ADR could potentially capture OFFERING PRICE $11,500,00 10%-12% more occupancy and drive the gross room revenue up. PRICE PER KEY $110,577 VERY STRONG CURRENT REVENUE AND CASH FLOW PLUS FUTURE UPSIDE PRICE PSF $169.90 POTENTIAL The La Quinta performs exceptionally well, with effective cost controls in place by DEMOGRAPHICS 1 MILE MILE MILE current ownership. In 2019, the hotel achieved over $2.6 million in total revenues, 5 10 driving 10%-20% of this revenue to the bottom line, after the deduction of 2019 Population 2,956 87,465 135,887 management fees and reserves. 2019 Median HH Income $66,307 56,237 $57,322 GENERAL MANAGER RETENTION 2019 Average HH Income $91,315 $77,245 $78,527 The hotel is ideally offered unencumbered by management, however speaking with the general manager, he is willing to stay aboard and continue to run the hotel, thus providing a buyer with full optionality, including new management or retaining current management and several possible brand conversion opportunities to increase revenue and reservation delivery.

COST OF PROPERTY IMPROVEMENT PLAN The La Quinta can be acquired below replacement cost, however transfer PIP running anywhere between $700k-$800k can make a difference, that is why we have spoken with lenders and they feel very confident that they can finance the PIP as well.

HIGH VISIBILITY FREEWAY LOCATION The La Quinta boasts an excellent “Freeway” location, close to the many restaurants, shops and outdoor activities. Located directly north off of Exit 4 in St. George. La Quinta By Wyndham St. George Executive Summary | 06 La Quinta By Wyndham

Opened in 2007 as a mid level hotel, this property performs exceptionally well, with 2019 room revenue reaching $2.6 million and a consistent $100+ ADR, in one of the hottest markets in the state. The three-story, interior corridor hotel is in very great condition, with continual preventive maintenance and upgrades by ownership. The interior was renovated in 2018 with new flooring, vanities, and case goods. However Wyndham is requiring a $700k -$800k Transfer PIP. The property features an outdoor pool and hot tub, guest laundry facility, and breakfast area. In addition, the La Quinta offers complimentary breakfast and Wi-Fi, and ample surface level parking on a large 2.99-acre lot.

The hotel boasts an excellent, high visibility from Interstate- 15 and is close to restaurants, shops, and scenic hot spots. St. George is the closest major city to the entrances of 3 of the "Mighty 5" National Parks – Zions National Park home of the famed Zion Canyon, Bryce Canyon National Park home of the fames Bryce Canyon and Capital Reef National Park. Combined visitation at all three national parks is up 78% over the past decade and up 48% from 2014 through 2017 alone. Together, the parks welcomed more than 7.6 million visitors in 2019. St. George, Utah

St. George is a city in and the county seat of Washington County, Utah, United States. Located in the southwestern part of the state on the Arizona border, near the tri-state junction of Utah, Arizona and Nevada, it is the principal city of the St. George Metropolitan Statistical Area. The city lies in the northeastern most part of the Mojave Desert, adjacent to the Pine Valley Mountains and near the convergence of three distinct geological areas: the Mojave Desert, Colorado Plateau, and Great Basin. The city is 118 miles northeast of Las Vegas and 300 miles south-southwest of Salt Lake City on Interstate 15. The St. George area is well known for its natural environment and proximity to several state and national parks.

Washington County contains some of the world’s most spectacular scenery- within its boundaries lie Red Cliffs National Conservation Area , Sand Hollow State Park, Quail Creek State Park, Bloomington Country Club, The Outlets at Zion, Bloomington Cave, and Red Hills Desert Garden. St. George is central to some of the most dramatic natural beauty in the American West, from the Mojave Desert to Zion National Park and the Pine Valley Mountains. While its summers are hot, St. George's mild and largely snow-free winters make it popular with golfers, hikers and bikers. In fact, Brigham Young wintered here.

St. George’s proximity to several national and state parks has made it a popular destination in southwestern Utah. With in two hours of the city you can explore 3 of the famed "Mighty 5" National Parks.

As of the 2019 U.S Census estimates, the city had a population of 89,587, and the St. George metropolitan area had an estimated population of 171,700. St. George is the seventh-largest city in Utah and most populous city in the state outside of the Wasatch Front. La Quinta By Wyndham St. George Executive Summary Summary | 07

ECONOMY St. George is the population and commercial center of Utah's Dixie, a nickname given to the area when Mormon pioneers grew cotton in the warm climate. St. George's trademark is its geology, specifically the red bluffs which make up the northern part of the city with two peaks covered in lava rock in the city's center. The northeastern edges of the Mojave Desert are visible to the south. Zion National Park can be seen to the east, and the Pine Valley Mountains loom over the city to the north and northwest. The city has recently developed into a tourist but also retirement destination. The city hosts nationally-known events, such as the St. George Marathon, NJCAA Softball National Championships, Huntsman World Senior Games and an Ironman Triathlon.

SkyWest Airlines is headquartered in St. George, and is the primary airline provider at the city's regional airport.[29] Walmart has a distribution center just outside the city and Family Dollar recently opened a distribution center in the Fort Pierce Industrial Park to better serve the southwest region of the U.S. The Washington County School District main offices are based in the city. The Cafe Rio restaurant chain was started in St. George in 1997. A large part of the local economy comes from tourism, due to its proximity to Zion National Park, Bryce Canyon National Park, and Grand Canyon National Park as well as several state parks and recreational areas. Over a dozen golf courses with year-round golfing, and various world-recognized events also make for large contributors to the city's economy.

GROWTH PATTERNS The St. George metro area continued to grow at an impressive pace last year. A new U.S. Census Bureau report ranks St. George 3rd behind Midland, Texas and Myrtle Beach, South Carolina for percentage population growth. Dropping from the number one spot last year, the metro area posted a 3.5 percent increase, adding about 6,000 new residents last year for an estimated 2018 population of 171,700.

The fundamental growth driver in both counties is net migration rather than births — a marked difference from the rest of the state. The reasons for this migration are evolving. No longer a haven for retirees alone, St. George is drawing younger workers and families looking for jobs and homes in the expanding economic base. Transportation, warehousing, tourism and university jobs are industries prompting growth.

ACCESS The city is 118 miles northeast of Las Vegas and 300 miles south-southwest of Salt Lake City on Interstate 15. La Quinta By Wyndham St. George Executive Summary | 08

Zions National Park

Zion National Park is an American national park located in southwestern Utah near the town of Springdale. A prominent feature of the 229-square-mile park is Zion Canyon, which is 15 miles long and up to 2,640 ft deep. The canyon walls are reddish and tan-colored Navajo Sandstone eroded by the North Fork of the Virgin River. The lowest point in the park is 3,666 ft at Coalpits Wash and the highest peak is 8,726 ft at Horse Ranch Mountain. Located at the junction of the Colorado Plateau, Great Basin, and Mojave Desert regions, the park has a unique geography and a variety of life zones that allow for unusual plant and animal diversity. Numerous plant species as well as 289 species of birds, 75 mammals (including 19 species of bat), and 32 reptiles inhabit the park's four life zones: desert, riparian, woodland, and coniferous forest. Zion National Park includes mountains, canyons, buttes, mesas, monoliths, rivers, slot canyons, and natural arches.

Bryce Canyon National Park Bryce Canyon National Park is an American national park located in southwestern Utah. The major feature of the park is Bryce Canyon, which despite its name, is not a canyon, but a collection of giant natural amphitheaters along the eastern side of the Paunsaugunt Plateau. Bryce is distinctive due to geological structures called hoodoos, formed by frost weathering and stream erosion of the river and lake bed sedimentary rocks. The red, orange, and white colors of the rocks provide spectacular views for park visitors. Bryce Canyon National Park is much smaller, and sits at a much higher elevation than nearby Zion National Park. The rim at Bryce varies from 8,000 to 9,000 feet.

The Bryce Canyon area was settled by Mormon pioneers in the 1850s and was named after Ebenezer Bryce, who homesteaded in the area in 1874. The area around Bryce Canyon was originally designated as a national monument by President Warren G. Harding in 1923 and was re- designated as a national park by Congress in 1928. The park covers 35,835 acres and receives substantially fewer visitors than Zion National Park (nearly 4.3 million in 2016) or Grand Canyon National Park (nearly 6 million in 2016), largely due to Bryce's more remote location. In 2018, Bryce Canyon received 2,679,478 recreational visitors, which was an increase of 107,794 visitors from the prior year. La Quinta By Wyndham St. George Executive Summary | 09

Capital Reef National Park

Capitol Reef National Park is an American national park in south-central Utah. The park is approximately 60 miles long on its north–south axis and just 6 miles (9.7 km) wide on average. The park was established in 1971 to preserve 241,904 acres of desert landscape and is open all year, with May through September being the highest visitation months.

The majority of the nearly 100 mi long up-thrust formation called the Waterpocket Fold—a rocky spine extending from Thousand Lake Mountain to Lake Powell—is preserved within the park. Capitol Reef is an especially rugged and spectacular segment of the Waterpocket Fold by the Fremont River.[5] The park was named for its whitish Navajo Sandstone cliffs with dome formations—similar to the white domes often placed on capitol buildings —that run from the Fremont River to Pleasant Creek on the Waterpocket Fold. Locally, reef refers to any rocky barrier to land travel, just as ocean reefs are barriers to sea travel.

Red Cliffs National Conservation Area

The Red Cliffs National Conservation Area is a 44,724-acre National Conservation Area located in southwest Utah, north of St. George at the northeastern most edge of the Mojave Desert. It is managed by the Bureau of Land Management as part of the National Landscape Conservation System, and was created as part of the Omnibus Public Land Management Act of 2009.

The Red Cliffs National Conservation Area (NCA) is part of the larger multi- jurisdictional Red Cliffs Desert Reserve, which was created in 1996 to protect the habitat and populations of the desert tortoise and other species. Part of the NCA was designated in 2009 as the Cottonwood Canyon and Red Mountain wilderness areas, which are part of the National Wilderness Preservation System.

The Pine Valley Mountains and Dixie National Forest are north of the NCA. The NCA is located within the watershed of the Virgin River, a tributary of the Colorado River. There are over 130 milesof non-motorized trails in the NCA. La Quinta By Wyndham St. George Competitive Map | 10 La Quinta By Wyndham St. George Attractions Map | 11

Minutes and Miles to

St. George to zions National Park: 46.7 Miles 55 minutes St. George To Capital Reef National Park: 209 Miles: 3 hours 26 minutes Bryce Canyon National Park: 141 Miles: 2 Hours 22 Minutes La Quinta by Wyndham St. George Parcel Map | 12 LA QUINTA BY WYNDHAM ST. GEORGE ST. WYNDHAM BY QUINTA LA Parcel

Property Description Property Features Additional Maps Amenities Property Images ...... 02

La Quinta by Wyndham St. George | Property Description La Quinta by Wyndham St. George Property Features | 14

PROPERTY FEATURES CONSTRUCTION TOTAL ROOMS 104 FOUNDATION Concrete BUILDING SF 67,583 FRAMING Wood LAND ACRES 2.99 EXTERIOR Stone/Stucco/EFIS YEAR BUILT 2007 PARKING SURFACE Asphalt YEAR RENOVATED 2018 ROOF Pitched Clay Titles # OF PARCELS 1 LANDSCAPING Tropical ZONING TYPE PD-C ELEVATOR Yes TOPOGRAPHY Flat NUMBER OF STORIES 3 AMENITIES NUMBER OF BUILDINGS 1 SPA Yes NUMBER OF PARKING SPACES 107 POOL Yes PARKING RATIO 1.02 COMPLIMENTARY BREAKFAST Yes NUMBER OF INGRESSES 2 ICE/VENDING MACHINES Yes NUMBER OF EGRESSES 2 BUSINESS CENTER Yes WIFI Yes ROOM MIX RESTAURANT No DOUBLE QUEEN 54 KING 42 SUITES 8

MECHANICAL HVAC PTAC in Rooms FIRE SPRINKLERS Yes La Quinta by Wyndham St. George Floor Plan | 15 La Quinta by Wyndham St. George Property Images | 16 La Quinta by Wyndham St. George Property Images | 17 La Quinta by Wyndham St. George Property Images | 18 La Quinta by Wyndham St. George Property Images | 19 La Quinta by Wyndham St. George Property Images | 20 La Quinta by Wyndham St. George Property Images | 21 LA QUINTA BY WYNDHAM ST. GEORGE ST. WYNDHAM BY QUINTA LA

Demographics Demographic Details Demographic Charts ...... 05

La Quinta by Wyndham St. George | Demographics La Quinta by Wyndham St. George Demographics | 23

POPULATION 1 MILE 5 MILE 10 MILE HOUSEHOLDS 1 MILE 5 MILE 10 MILE

2000 Population 1,618 46,791 67,339 2000 Total Housing 696 19,712 27,362 2010 Population 2,573 69,248 104,141 2010 Total Households 944 23,821 35,569 2019 Population 2,956 87,465 135,887 2019 Total Households 1,070 29,618 45,679 2024 Population 3,359 98,539 155,859 2024 Total Households 1,224 33,192 52,205 2019 African American 16 910 1,325 2019 Average Household Size 2.76 2.91 2.95 2019 American Indian 26 1,471 2,236 2000 Owner Occupied Housing 497 11,143 16,433 2019 Asian 37 1,061 1,573 2000 Renter Occupied Housing 47 5,053 6,344 2019 Hispanic 204 12,685 19,081 2019 Owner Occupied Housing 890 20,614 33,729 2019 Other Race 45 5,913 9,075 2019 Renter Occupied Housing 180 9,004 11,950 2019 White 2,712 73,909 115,610 2019 Vacant Housing 324 7,625 11,468 2019 Multiracial 86 3,058 4,517 2019 Total Housing 1,394 37,243 57,147 2019-2024: Population: Growth Rate 12.95 % 12.05 % 13.90 % 2024 Owner Occupied Housing 1,038 23,024 38,783 2024 Renter Occupied Housing 186 10,168 13,422 2019 HOUSEHOLD INCOME 1 MILE 5 MILE 10 MILE 2024 Vacant Housing 353 8,398 12,785 less than $15,000 52 2,634 3,646 2024 Total Housing 1,577 41,590 64,990 $15,000-$24,999 74 3,230 5,062 2019-2024: Households: Growth Rate 13.65 % 11.50 % 13.55 % $25,000-$34,999 80 2,500 3,662 $35,000-$49,999 131 4,361 6,671 $50,000-$74,999 268 6,166 9,763 $75,000-$99,999 152 3,787 6,069 $100,000-$149,999 152 3,876 5,842 $150,000-$199,999 97 1,624 2,706 $200,000 or greater 66 1,440 2,259 Median HH Income $66,307 $56,237 $57,322 Average HH Income $91,315 $77,245 $78,527

Source: esri La Quinta by Wyndham St. George Demographics | 24

2019 POPULATION BY AGE 1 MILE 5 MILE 10 MILE 2024 POPULATION BY AGE 1 MILE 5 MILE 10 MILE

2019 Population Age 30-34 141 6,009 9,230 2024 Population Age 30-34 187 7,050 11,128 2019 Population Age 35-39 140 5,548 8,904 2024 Population Age 35-39 172 6,588 10,540 2019 Population Age 40-44 121 4,502 7,201 2024 Population Age 40-44 165 5,807 9,265 2019 Population Age 45-49 119 3,893 6,272 2024 Population Age 45-49 140 4,549 7,345 2019 Population Age 50-54 134 3,624 5,874 2024 Population Age 50-54 142 4,087 6,755 2019 Population Age 55-59 168 3,816 6,208 2024 Population Age 55-59 163 3,843 6,442 2019 Population Age 60-64 188 3,986 6,458 2024 Population Age 60-64 211 4,303 7,269 2019 Population Age 65-69 223 3,989 6,483 2024 Population Age 65-69 243 4,424 7,583 2019 Population Age 70-74 240 4,037 6,367 2024 Population Age 70-74 260 4,344 7,341 2019 Population Age 75-79 196 3,263 4,997 2024 Population Age 75-79 248 3,995 6,495 2019 Population Age 80-84 149 2,472 3,567 2024 Population Age 80-84 173 2,834 4,469 2019 Population Age 85+ 135 2,612 3,551 2024 Population Age 85+ 165 2,968 4,381 2019 Population Age 18+ 2,313 62,675 96,721 2024 Population Age 18+ 2,629 70,342 111,191 2019 Median Age 48 33 34 2024 Median Age 47 34 35

2019 INCOME BY AGE 1 MILE 5 MILE 10 MILE 2024 INCOME BY AGE 1 MILE 5 MILE 10 MILE

Median Household Income 25-34 $68,306 $55,494 $56,789 Median Household Income 25-34 $75,382 $63,081 $64,848 Average Household Income 25-34 $90,318 $73,407 $75,156 Average Household Income 25-34 $101,795 $85,611 $88,325 Median Household Income 35-44 $89,871 $76,049 $76,287 Median Household Income 35-44 $100,414 $83,770 $85,060 Average Household Income 35-44 $110,703 $93,304 $93,962 Average Household Income 35-44 $127,015 $105,912 $107,997 Median Household Income 45-54 $87,017 $70,699 $69,974 Median Household Income 45-54 $94,396 $80,344 $80,938 Average Household Income 45-54 $113,778 $93,431 $93,140 Average Household Income 45-54 $128,214 $107,586 $108,744 Median Household Income 55-64 $80,089 $63,120 $63,658 Median Household Income 55-64 $87,784 $71,174 $73,591 Average Household Income 55-64 $103,707 $83,979 $84,858 Average Household Income 55-64 $117,394 $96,138 $99,243 Median Household Income 65-74 $66,883 $58,015 $57,692 Median Household Income 65-74 $73,035 $64,153 $65,067 Average Household Income 65-74 $97,739 $80,548 $80,898 Average Household Income 65-74 $109,358 $92,198 $94,968 Average Household Income 75+ $63,514 $55,270 $54,639 Average Household Income 75+ $73,536 $66,207 $65,362 La Quinta by Wyndham St. George Demographic Charts | 25

2019 Household Income

1 Mile Radius 5 Mile Radius 10 Mile Radius

2019 Population by Race

1 Mile Radius 5 Mile Radius 10 Mile Radius La Quinta by Wyndham St. George Demographic Charts | 26

2019 Household Occupancy - 1 Mile Radius

2019 Household Income Average and Median

Average Income Median Income La Quinta by Wyndham St. George

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