Studio 6 Grand Junction, CO 704 Horizon Dr

As the exclusive representative of the seller, Marcus & Millichap’s National Hospitality Division is pleased to present for sale to qualified investors the Studio 6 Grand Junction (‘Hotel’ or ‘Property’). The G6 Hospitality-branded Hotel is offered at $6,000,000 or $48,780 per key.
The newly converted Studio 6 Grand Junction is a two-story, 123-room, exterior-corridor Hotel stationed at 704 Horizon Drive, just off Interstate 70. The Hotel was converted to the Studio 6 Brand in November 2021. This extended-stay Hotel is well equipped with many common area and guest room amenities. The newly remodeled rooms include a kitchenette, flat-screen television and work desk. Some common area amenities include an outdoor pool, guest laundry facilities, dog park and vending machines.
The city of Grand Junction, Colorado, is in Mesa County, approximately 250 miles west-southwest of Denver, Colorado. The local economy is a strong leisure market, supported by prominent industries, including health care, education, tourism, agriculture, livestock, and energy mining. St. Mary’s Hospital and Colorado Mesa University, two of the city’s largest employers located approximately 1.8 and 2.3 miles from the Hotel respectively, are prime revenue drivers for the surrounding area. Other notable demand generators include the Grand Junction Regional Airport (1.8 miles), Avalon Theatre (3.3 miles), The Escape House (3.1 miles), Museum of Western Colorado (3.6 miles), and Bananas Fun Park (4.6 miles).
In 2021, the Property completed a $1.1 million renovation to meet G6 brand standards, presenting an opportunity for a new buyer to acquire the fee-simple interest in an asset with a minimum change of ownership PIP. The Hotel further benefits from being one of only two extended-stay, economy Hotels in the area. Twelve-month RevPAR in the Colorado Northwest Area hotel submarket increased by 4.5% year-over-year as of January. That's easily stronger than the market-wide trend, in which RevPAR was essentially flat. There is no competitive new supply slated for development in the submarket, establishing a higher barrier of entry for potential competitors.