Leines Hotel Advisors, Inc.
13253 Kerry Lane
Eden Prairie, MN 55346
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P 952-405-9370
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Properties for Sale
Quality Inn | Thief River Falls, Minnesota
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Property SummaryLocation 1060 Highway 32 South, Thief River Falls, MN, 56701 Price $6,750,000 Rooms 75 Price Per Key $90,000 Revenue $2.041M Room Revenue |
Leines Hotel Advisors, Inc. is pleased to present on an exclusive basis the:
The Quality Inn of Thief River Falls, Minnesota
All visits to the property are arranged by appointment only.....no drive-bys or drop-in visits permitted.
The Property:
The Quality Inn of Thief River Falls offers 75 guest rooms plus two additional rooms converted to an apartment. The Quality Inn features a large, enclosed atrium with a pool and spa. Pool-side rooms compliment this setting. The guest rooms, breakfast bar and seating area, lobby and hallways have all undergone renovations. Meeting and banquet spaces can accommodate 200. Mulligans Lounge (a restaurant and bar) is adjacent to the banquet rooms. Mulligans Louonge is operated by a third party under a lease agreement that will be assumed by the new owner.
The Market:
The Quality Inn is very close to major corporate and manufacturing companies. These include Digi-Key, the largest employer in the area. Digi-Key Corporation is one of the fastest-growing electronic component distributors in the world with annual sales of $3.2+ Billion. It ships more than 5.3+ million orders annually and has 4,500+ employees. Digi-Keys’ warehouse and distribution center is the 10th largest center in the country and sits less than ½ mile from the hotel.
Close-by is Arctic Cat (Textron Inc). This company designs, engineers, manufactures, and markets snowmobiles and ATVs under the Arctic Cat brand name, as well as related parts, garments and accessories. Arctic Cat snowmobiles have been manufactured in Thief River Falls for 60 years.
The Location:
This property is located 294 miles northwest of Minneapolis MN and 91 miles northwest of Bemidji MN in beautiful Northern Minnesota. Thief River Falls is the economic center of upper northwestern Minnesota. It is the county seat for Pennington County and adjacent to Red Lake County with a combined population of 17,927 as of the 2020 census.
Performance Highlights:
- $2,044,666 Room Revenue in 2022
- 84% Occupancy
- $88.74 ADR
- $77.60 RevPar
Renovation Highlights:
- 2016 - New partial roof
- 2021 - E-Locks installed
- 2022 - Parking lot repaved
- 2022 - New heating/AC for restaurant
- 2022 - New hood & makeup air in kitchen
- 2014-15 - All new carpets throughout
- 2014-15 - New bath vanities throughout
- 2014-15 - Porcelain tile floors in all baths
- 2023 - Mini-split HVAC’s onsite for pool-side and interior guest rooms
More Details
To request more investment details for this listing, please fill out our "Confidentiality Agreement" by clicking on the button below:
For more information call or email Leines Hotel Advisors, Inc.
Call 952-405-9370 or Email Leines Hotel Advisors, Inc.
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