National Commercial Auctioneers [www.natcomauctions.com] announces an absolute auction scheduled for the Holiday Inn in downtown Sheffield, Ala., on April 21, according to Stephen Karbelk, CAI, AARE, President of National Commercial Auctioneers.
“The property will be sold to the highest bidder, regardless of price so every hotel investor that has any interest in buying a quality hotel property at auction needs to be at this auction,” said Karbelk.
This 201-room full service Holiday Inn is located in the heart of North Alabama and is a favorite hotel of business travelers. The amenities include an outdoor pool, indoor whirlpool, fitness center, business center, WiFi and the locally famous Fizz lounge with seasonal live entertainment.
“The revenue generating potential is just incredible,” commented Fernando Palacios, Regional Vice President of National Commercial Auctioneers. “With the large meeting facilities, the hotel can have a wedding that sits up to 450 guests.”
The property also benefits from being near the Robert Trent Jones Trail golf course, The Shoals, with two 18-hole courses.
Close by are several major organizations, including the Tennessee Valley Authority, Wise Alloys, Northern American Lighting, and the US Army Reserve Training Center. The University of North Alabama is located in nearby Florence with a student population of over 7,000 students.
“This property will make an excellent long term hospitality property,” further notes Palacios. “With such strong demand from its exceptional location, any experienced buyer would want to have this property in their portfolio. Now is the time to be that buyer.”
National Commercial Auctioneers will also be selling other hotels at auction over the next two months, including a 139-room hotel in Stillwater, Okla., and 138-room hotel in Ponca City, Okla., at absolute auction on April 2; a 225-room hotel in Winter Haven, Fla., on April 19; two hotels with 274 rooms in Pensacola, Fla., on April 20, and a 70-room limited service hotel in Seymour, Ind., on May 18.