Officials from Hunter Realty Associates, Inc., a leading national hotel investment services firm, today announced the listing for sale of the 124-room Holiday Inn & Suites Front Royal at Blue Ridge Shadows Resort in Virginia for $15.5 million.
“While one property does not a trend make, we believe this may mark the beginning of a steady rise in larger, full-service hotels like this property coming to market as the year progresses,” said Teague Hunter, president of Hunter Realty Associates, Inc. “Financing is available for qualified buyers, another indicator that transaction activity is showing signs of thawing.”
Located in the Shenandoah Valley region of northwest Virginia, the hotel is popular with both leisure and business travelers. Less than two years old, the five-story hotel overlooks the championship Blue Ridge Shadows Golf Course and features a fully equipped fitness center, indoor heated pool, 24-hour business center and 24-hour lobby convenience store. The hotel also leases a 198-seat Houlihan’s Restaurant + Bar. The indoor heated pool is adjacent to space built out for an approved day spa project with dedicated exterior entrance that could offer dry and wet treatment rooms, nail salon, manager’s office and men’s/women’s locker rooms with steam rooms.
The hotel was ranked number one in guest service rating scores among all Holiday Inns in North, Central and South America for the period ending October 2009 and is currently ranked number three in the Americas.
“This Holiday Inn & Suites is in exceptional condition, attractively priced and can be purchased along with the adjacent championship golf course,” said Kyle Stevenson, listing broker. “The hotel is well located, approximately 70 miles west of Washington, D.C., at the intersection of two major interstate highways. Front Royal is home to the Virginia Inland Port and Christendom College and Randolph-Macon Academy. The hotel is located in the heart of Virginia wine country and sits at the northern entrance of Shenandoah National Park and its famous Skyline Drive.”
The property offers nearly 4,000 square feet of meeting space capable of handling groups of up to 450 people.
Each guest room features a 32-inch, flat-panel TV, an oversized desk and ergonomic desk chair, granite countertops, two speaker phones and free high-speed, wireless internet access. The hotel also features 26 one-bedroom suites.