12426 Houck Ave, Clear Spring, MD 21722-1709

This exceptional 79-key Holiday Inn Express & Suites hotel presents a compelling investment opportunity. Situated on a 2.32-acre lot in Clear Spring, Maryland, this three-story, interior-corridor property boasts 41,474 square feet and benefits from a prime location off Interstate 70 (40,552 vehicles per day) and Route 40 (3,751 vehicles per day). Built in 2009 and extensively renovated in 2018, the hotel offers a modern and well-maintained facility. The property is offered fee simple, unencumbered by debt or third-party management. A long-term relicense with IHG is anticipated upon completion of a modest change-of-ownership PIP. Recent performance data shows a RevPAR of $63.37 in the trailing twelve months ending February 2024, with a penetration index of 88.9% compared to the competitive set. This presents a significant opportunity for an owner-operator to implement aggressive sales and rate management strategies, potentially increasing RevPAR penetration to 100% or more through the completion of the change-of-ownership PIP and subsequent renovations. The property's strong location and brand affiliation, coupled with the potential for increased profitability, make this a highly attractive investment. The property is currently unpriced, and offers will be reviewed based on price and terms. Appointments for property tours are required.