Best Western Grand Seasons – Waupaca, Wisconsin

BestWestern225The select-service Best Western was originally built in 1988 with a 30-room addition in 1993. The 90-room, 3-story brick hotel is situated in a highly visible location along US Highway 10 in Central Wisconsin.



Challenge
Best Western Grand Seasons hotel presented the challenge of finding a buyer looking to run a select-service operation with many moving parts. The property contains approximately 10,000 sq. ft. of meeting space, a large leased fitness facility, lounge, and an indoor waterpark.

Marketing Process
Through an aggressive national sales and marketing process, prospective buyers were identified who owned similar properties or sought opportunistic acquisition opportunities.

Results
The purchaser of the property was an Arkansas-based entrepreneur with experience operating full-service hotels and was looking to expand into the Wisconsin market.

Year 1 Year 2 Year 3
A.D.R. $77.97 $79.32 $79.78
Occupancy 54.5% 48.0% 54.6%
RevPar $42.12 $38.09 $43.56
Room Revenue $1,383,485 $1,251,181 $1,434,875
Total Revenue $1,929,450 $1,761,127 $2,095,398
NOI $111,559 -$25,653 $77,441