Savannah Garden Inn 3822 Ogeechee Rd Services hôteliers 75 chambres À vendre Savannah, GA 31405

OFFERING OVERVIEW:
DSH Hotel Advisors has been retained as the exclusive broker to market for sale the Savannah Garden Inn, a 88-room independent hotel, located in Savannah, Georgia. The subject property is being operated very efficiently as an extended-stay style property and is located just minutes from downtown Savannah. This offering presents a unique opportunity for an investor to acquire a well-positioned property in a high-growth market with strong historical NOI and the potential for brand affiliation.


PROPERTY OVERVIEW:
The Savannah Garden Inn is a 88-key hotel located in the high-demand Midtown sub-market of Savannah, GA. It is estimated that a new owner would have to spend approximately $660,000+/- in order to flag the subject property and bring it up to modern economy segment standards. This figure is an estimate and would have to be verified by individual brands via the issuance of a PIP.


HOSPITALITY MARKET OVERVIEW:
Savannah’s hotel industry has demonstrated resilience and growth. Despite a 1.0% increase in supply, market occupancy remained stable at 72.8% through July 2024. The average daily rate (ADR) experienced a slight decrease of 1.6% year-over-year, settling at $152.43, resulting in a revenue per available room (RevPAR) of $110.87.


SAVANNAH, GEORGIA:
Savannah, Georgia, is a vibrant city known for its rich history, stunning architecture, and picturesque squares. Major demand generators include its thriving tourism industry, significant port operations, and a growing film industry. The city attracts over 14 million visitors annually, drawn by its well-preserved historical district, numerous parks, and vibrant cultural scene. Key attractions include historic Forsyth Park, bustling River Street, the Savannah Historic District, and Bonaventure Cemetery. Additionally, events such as the Savannah Music Festival and the St. Patrick’s Day Parade further bolster tourism, making Savannah a key destination in the southeastern United States. US-17


EXPANSION PLANS:
The expansion of U.S. Highway 17 between Savannah and Brunswick, Georgia, involves several infrastructure projects aimed at improving traffic flow and accommodating growth. In Glynn County, a project is underway to widen a 2.2-mile segment of U.S. 17 from two lanes to four, including a raised median and enhanced shoulders to support increased traffic and improve safety. Additionally, the Georgia Ports Authority is investing $29 million in an overpass at Savannah’s Ocean Terminal to connect directly to U.S. 17, facilitating port access and reducing truck traffic in local neighborhoods. These developments are part of broader efforts to enhance transportation infrastructure and support economic growth in the region.
*Note - Projections for this offering are based on the assumption that a new owner would continue to operate the property in a similar manner.


Property Highlights:
• Savannah Garden Inn - Located in Midtown Savannah
• Exterior Corridor Independent Hotel
• Located in a High Growth Market
• Extended-Stay Style Property with Strong Bottom Line
• Three Stories - Elevator On Site
• Multiple Brands Available for Re-branding



Location Highlights:
• 3.5 Miles to Forsyth Park
• 3.7 Miles to Hunter Army Airfield
• 4.0 Miles to Savannah Historic District
• 4.3 Miles to Savannah Civic Center
• 4.5 Miles to Savannah College of Art and Design (SCAD)
• 5.9 Miles to Oglethorpe Mall
• 11 Miles to Savannah/Hilton Head International Airport



Financial Highlights:
• List Price of “Market-Bid”
• YE 2024 Room Revenue of $863,199
• YE 2024 Net Operating Income of $497,392*
• Year 1 Projected Room Revenue of $1,153,346
• Year 1 Projected Net Operating Income of $664,580
*Underwriting was completed based on YE 2023 P&Ls. Expense Ratios were extracted and applied to the YE 2024 Room Revenue figure.