Canterbury Inn_Offering Memorandum

OFFERING MEMORANDUM
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
Mark Hulsey
Managing Broker
651.755.2068 mobile
651.256.7404 office
[email protected]
A BETTER WAY in Commercial Real Estate
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
Offering Memorandum
Table of Contents
Investment Summary……………………………...1-2
Hotel Amenities……………………………………….3
Property Photos……………………………………….4-8
Profile……………………………………………………...9
Financial Summary & Terms…………………….10
Location Information……………………………….11-13
Floor Plans………………………………………………14
Competitive Hotel Set……………………………..15
Area Comparables…………………………………..16
Area Hotel Comparisons………………………….17
Shakopee Area Demographics…………………18
4-Star Quality Award……………………………….19
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
Investment Summary
Canterbury Inn in Shakopee is a beautiful 4 Star rated, full service hotel with a 2x Price to Income ratio. In
addition to 175 rooms and suites, the property features the Arizona Steakhouse and Sports Lounge with
indoor and outdoor dining and entertainment, luxurious swimming pool atrium featuring two whirlpools,
sauna, adjacent workout facility, arcade, banquet facilities and fine dining, and 20,000 SF of office space
and conference rooms for the business traveler. With Beverage and Lounge income exceeding
$1,000,000 annually, and a 23% ADR increase since 2008, this hotel is a solid & stable hospitality asset
with tremendous upside for new ownership.
Canterbury Inn is conveniently located directly south and only 25 miles from downtown Minneapolis,
adjacent to Canterbury Park. This hotel has the perfect combination of abundant amenities and ideal
location, weather you are in town on business, seeking a romantic getaway away from the hustle and
bustle of the city, or enjoying the local attractions or historic downtown Shakopee. From weddings and
conventions to family vacations, this
hotel offers exceptional value and
convenience.
Currently for 2012, 27 weddings have
been booked, already more than a
two-fold increase over last year’s total.
Convention and special event bookings
currently stand at $221,000, more than
90% above last year’s total by this time.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
1
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
Investment Summary
Among its many amenities, the hotel offers
a white linen, fine dining steak house, as well
as a family restaurant and lounge with patio
seating, featuring stage and live bands
Thursday through Sunday evenings.
With its spacious 6,460 square feet of
conference and banquet rooms, this hotel
provides an ideal setting for business and
corporate gatherings during the day, and banquet dinners at night. Its large indoor heated pool, two
Jacuzzis, Sauna and Fitness Center, and arcade provides a wide variety of indoor activities for children
and adults.
Amenities for the spacious guest rooms and suites, featuring poolside King and Queen whirlpool
honeymoon suites, include cable/satellite TV with HBO, and complimentary high speed internet, and
more. Of course, a complimentary continental breakfast is offered to each guest every morning in the
beautiful poolside atrium.
Canterbury Inn in Shakopee is the closest full service hotel to Valley Fair Amusement Park, and next to
Canterbury Park Racetrack and Card Club. The Mall of America, The Landing (formerly Murphy’s Landing),
the Minnesota Renaissance Festival, and Mystic Lake Casino are just a few of the other nearby
attractions. Two golf courses and Raceway Park top off some of the fabulous area activities.
Canterbury Inn in Shakopee is offered at $3,900,000.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
2
Canterbury Inn
A Full Service, 175 Room Hotel
in Shakopee,
Minnesota
Hotel
Amenities
www.ResultsCommercial.com
Hotel Amenities
Room Amenities
Common Area Amenities
Microwaves
Interior Hallways through 3 stories
Direct Dial Phones
Three Elevators
Free High speed internet
Game room
Cable/Satellite TV
Indoor Heated Pool
Two HBO Channels
Two Indoor Jacuzzis, Two Saunas
Coffee Makers/ Free Coffee
Men and Women’s Shower Off
Hair Dryers
Pool
Clock Radio
Arizona’s White Linen Steak House
Iron and Iron board
Guest Laundry
Down Comforters
Wedding and Picnic Courtyard
Individual Room AC and Heat
Arizona’s Lounge with Outside
Table, Desk and Chairs
Patio
Arizona’s Family Restaurant
Operating Amenities
Ice and Vending machines
Service elevator
Security cameras
Owner Apartment suite on site
Fitness Center
Cleaning Storage All Floors
Poolside breakfast dining area
Commercial dishwashing 2 floors
Meeting facility
Two Kitchens
Conference Room
Manager- Admin office area
Banquet Room - 250 Capacity
Security Camera System
Business Center
Common Area Laundry
ATM
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
3
Canterbury Inn
A Full Service, 175 Room Hotel
in Shakopee,
Minnesota
Hotel
Amenities
www.ResultsCommercial.com
Property Photos
A Better Way
in fine dining.
For a quiet evening of fine dining,
try the Arizonas Steak House.
Choice steaks and Chops await the
discerning guest in search of quiet
private ambiance and fine dining.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
4
Canterbury Inn
A Full Service, 175 Room Hotel
in Shakopee,
Minnesota
Hotel
Amenities
www.ResultsCommercial.com
Property Photos
A Better Way
to living the
night life.
If your entertainment
interests involve live
bands or enjoying a large outdoor
patio with friends, The Arizona
Lounge is the place to relax. Lunch
and dinner menus are served each
day, with live entertainment
provided Friday and Saturday night.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
5
Canterbury Inn
A Full Service, 175 Room Hotel
in Shakopee,
Minnesota
Hotel
Amenities
www.ResultsCommercial.com
Property Photos
A Better Way
to making your
event as special
as the
occasion.
For special events, the banquet rooms at Canterbury
Inn will provide first class dining for up to 250 guests
customizable to suit your individual needs. Host a
beautiful wedding in the outdoor gazebo and a
stunning private reception for a memorable event.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
6
Canterbury Inn
A Full Service, 175 Room Hotel
in Shakopee,
Minnesota
Hotel
Amenities
www.ResultsCommercial.com
Property Photos
A Better Way
in accommodations
for every taste.
For the seasoned business traveler to the
romantic getaway, Canterbury Inn offers
elegant room accommodations for every
taste. Each room offers free internet access
and satellite/cable TV, with honeymoon
suites, poolside king, double queen, and
business suites available.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
7
Canterbury Inn
A Full Service, 175 Room Hotel
in Shakopee,
Minnesota
Hotel
Amenities
www.ResultsCommercial.com
Property Photos
A better way
in Four Star Luxury.
From the moment you step into the beautiful
lobby, you begin to experience the superb
amenities offered at Canterbury Inn. The
huge indoor heated pool with poolside
Continental Breakfast, two whirlpools, sauna,
fitness center with showers, and video game
room are just a few of the ways you can relax
at this Four Star rated hospitality destination.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
8
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
Canterbury Inn Profile
Listing Price:
$3,250,000
Price Per Room:
$18,571
Number of Rooms:
175
Highest and Best use:
Full-Service Hotel
Year Built:
1986
Site Size:
7.53 Acres
Building Square Footage:
133,628 sq. ft.
PID #:
271560020
Property Address:
1244 Canterbury Road South
Shakopee, MN 55379
Zoning:
MR- Major Rec with
PUD overlay District.
Number of Employees:
76
Front Desk Software:
Auto Clerk
(Transition to Switch Room Key in May)
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
9
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
LOCATION INFORMATION
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
11
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
LOCATION INFORMATION
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
12
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
LOCATION INFORMATION
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
13
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
FLOOR PLANS
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
14
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
Immediate Area Hotel Competitive Set
Sandalwood Studios and Suites:
This hotel is located adjacent to Canterbury Inn, and offers Rooms with kitchenettes. It is a 67
unit limited service economy motel built in 2005, with full size refrigerator and a 2 burner stove
in each room. The single Queen room is offered at $59.00 per night, with the Double Deluxe
room priced at $89.00 per night. The location of this hotel has easy access, but limited sight
lines from main roads.
AmericInn Hotel and Suites:
This hotel is located across the street from Canterbury Inn, and offers common area amenities
such as pool, fitness center, and hot breakfast, as well as meeting room and guest laundry. It is
a 66 unit limited service hotel built in 2001, and has recently had its rooms upgraded with new
linen and flat screen TV’s. Prices range from $89.00 per night with group rates, to $99.00 per
night. The location of this hotel has limited access, but clear sight lines from main roads.
Hampton Inn:
This 87 unit hotel is located across the freeway from Canterbury Inn, and was built in 2009. It
offers common area amenities such as pool, fitness center, and hot breakfast. Select rooms offer a refrigerator, and the suites include a sleeper sofa. Room rates range from $99 to $109 for a
standard King, to $139 to $169 for a Deluxe, Deluxe Sleeper Sofa. . The location of this hotel
has easy access, and clear sight lines from main roads and highway.
Best Western, Chaska:
Located across the river, approximately 7 miles from Canterbury Inn, this limited service hotel
has 82 rooms, and offers an indoor pool, hot tub, underground heated parking, fitness center,
and hot breakfast. Room rates for the King or 2 Queens range from $74.00 to $95.00, depending on season.
Country Inn and Suites:
This limited service hotel is located in Shakopee, 1.5 west of Canterbury Inn. It has 61 rooms,
and offers a fitness center, hot breakfast, high speed internet, indoor pool and whirlpool. The
double Queen or King room is $102.00, and the Suite with sleeper sofa rents for $127.00.
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
15
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
Area
Comparables
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
16
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
LOCAL AREA HOTEL COMPARISONS
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
17
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
19
Canterbury Inn
A Full Service, 175 Room Hotel in Shakopee, Minnesota
www.ResultsCommercial.com
No warranty or representation, express or implied, is made as to the accuracy of the information contained herein, and same is submitted subject to errors, omissions,
change of price, rental or other conditions, withdrawal without notice, and to any specific listing conditions, imposed by RE/MAX RESULTS COMMERCIAL.
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