Marketplace
Diligence open
Residence Inn by Marriott Cedar Rapids South
Cedar Rapids, IowaExtended-stay hotelDiligence open — offers reviewed weekly
- Price guidance
- $18.0M guidance
- Keys
- 95
- TTM revenue
- $4.2M
- NOI
- $1.4M
- Occupancy
- 71%
- ADR
- $152
- RevPAR
- $108
- Cap rate
- 7.9%
Public summary
95-key Residence Inn hotel in Cedar Rapids, IA. Upper-midscale extended-stay asset with branded distribution and Cedar Rapids, Iowa demand drivers.
- Residence Inn flag with national reservation distribution
- Upper-midscale extended-stay operating model in the Cedar Rapids market
- 95 keys with in-place cash flow and brand-standard condition
Seller
Hotel owner, developer, and operator headquartered in Iowa, with properties across Hilton, Marriott, IHG, Choice, and other brand families in markets nationwide.
- Company
- Hawkeye Hotels
- Headquarters
- Coralville, Iowa
- Deal room
- Seller approval required
- Process
- Offers accepted online
Asset and market overview
Location
Cedar Rapids, Iowa draws corporate, leisure, and event demand that supports the Residence Inn flag.
Asset
Extended-stay hotel operating under the Residence Inn brand, offered as an individual asset.
Upside
- Revenue management optimization
- Expense benchmarking against comp set
- Negotiated corporate account growth
Property facts
- Year built
- —
- Last renovated
- —
- Brand class
- Upper-midscale extended-stay
- Brand family
- Marriott
- Keys
- 95
- Address
- Cedar Rapids, IA