LOCATION & AREA:
This beautiful and charming 31-Guestroom property in northwestern Colorado offers a fabulous location directly across the street from the Moffat County Fairgrounds. It is also the first motel on the westbound right-hand side of the famously scenic U.S. Highway 40. Craig, the county seat, with a population of approximately 10,000 residents, is rich in recreational opportunities, natural resources, and Old West lore. It is situated at an elevation of 6,186 feet. County population stands at approximately 14,000.

At the mid-point between Denver and Salt Lake City, Craig is the economic hub of Northwest Colorado. The very busy U.S. Highway 40 leads on to Dinosaur National Monument (about 65-miles), west to Vernal, UT (about 120-miles), and Salt Lake City (about 295-miles). Grand Junction is 135-miles to the south, and Colorado’s Capitol, Denver, is about 200-miles to the southeast. Driving north on Colorado Highway 13, which intersects with U.S. Highway 40 in Craig only a short distance from the Inn, will bring you to the Grand Teton and Yellowstone National Parks. Craig has its own municipal airport, however, within a 20-minute drive lies the Yampa Valley Airport in Hayden, featuring year-round commercial flights to major destinations.

IMPROVEMENTS:
A total of 31 large and beautiful guestrooms are located in two very nice buildings that have been perfectly kept up. The first is a one story building with 19 guestrooms that was constructed in 1955, and the second is a 2-story building with 12 guestrooms that was constructed in 1978. The 1-story building has a brand-new ‘standing-seam’ metal roof, installed in 2005. Heating and cooling is provided via individual HVAC units. Each guestroom features a state-of-the-art telephone system, wireless high-speed Internet, 25-inch color television sets, hair dryers, coffeemakers, refrigerators, and microwaves. New carpets, drapes and comfortable soft goods are in place. The property does serve a continental breakfast.

A separate, yet connected, building contains the motel’s front lobby, reception desk, and breakfast area. Very nice, approximately 1,800 square feet in size, 3-bedroom/2-bath owner/manager residence is situated in back of the reception area. This living area also features a large living room, dining room, light-oak kitchen, personal laundry room, and other necessities. There is also a wonderful, fenced backyard.

All facilities are in good condition and city utilities are in place. The land area, consisting of approximately 1-acre (+), is landscaped with mature trees and shrubs. The concrete and asphalt parking lot is in excellent condition, and an attractive 800-square foot patio with flower-filled planter-boxes provides great curb appeal. Surplus land allows for another ten guestrooms.

ANNUAL EXPENSES:
2007 property taxes were approximately $14,214, and hazard & liability insurance was approximately $4,917. Utilities, including electricity, natural gas, city water & sewer, and Cable TV/HBO were approximately $40,705; and business telephone expenses (including owner personal calls) were approximately $5,296. Motel, office and continental breakfast supplies were approximately $19,857. Expenses, as declared on IRS Tax Returns, as well as normalized actual expenses, can be reviewed on the available Financial Analysis.

REVENUES:
2007 Guestroom Revenues were approximately $407,000.00 net of Sales & Lodging Taxes. Current 12-Month Revenues through March 31, 2008, are at approximately $428,500.00, $21,500.00 ahead of 2007 without raising the property’s room rates. While all numbers are approximate, IRS Tax Returns will be available to qualified Buyers. 2007 motel occupancy was approximately 65%, and Average Daily Rate (ADR) was approximately $55.30.

TERMS:
Cash, Conventional, or SBA. Anton Hospitality will assist a qualified Buyer with the procurement of viable financing.

ROCKY MOUNTAIN NATURAL RESOURCES:
Coal mining in Moffat County has been active and profitable for an extended period of time. This is because some 300 million years ago, during the Pennsylvania and Permian geologic periods, a shallow sea covered most of the region southwest of Craig. Along the edges of this desert lake, eons of wind and waves have built up huge sand dunes, and beneath those sand dunes lie millions of barrels of natural oil and gas.

Now. new natural oil and gas exploration and production permits issued by the Federal Department of the Interior have caused the beginning of serious drilling activities and pipeline construction managed by Chevron, Exxon, Shell, and other major firms.

LOCAL & AREA ATTRACTIONS:
World-class skiing awaits you at a short, 35-minute drive to the east on Mount Werner at world-renowned Steamboat Springs. Craig and the entire region also features superlative fishing, world-class hunting, rafting and boating on crystal-clear rivers and scenic lakes. Museums, churches, excellent schools, shopping, restaurants, and fabulous year-round recreational facilities like a beautiful 18-hole golf course with gorgeous scenic views of the Yampa River Valley, will be at your beck and call.

Eagles, Sandhill cranes, pronghorn antelope, deer, elk, antelope, wild horses, and mountain lions can be spotted from highways and county roads winding through the breathtakingly beautiful Rocky Mountain region. Miles of scenic roads, bike paths, and hiking trails through high desert plateaus, canyons, and mountain valleys are at your pleasure. Dinosaur National Monument is close by, and the Yampa River offers trout fishing, white-water rafting and canoeing, Freeman Reservoir and Ralph White Lake, located just northeast of town, allow for boating, swimming, and world-class fishing. The Northwest Colorado Museum chronicles the area’s history, and a recreation center with the city swimming pool offers a much-enjoyed wave-pool, tennis courts, and an indoor ice-skating rink. An ever-growing variety of restaurants, stores, and services are available. Craig is also home to CNCC Community College. 

DINOSAUR NATIONAL MONUMENT is located about 65-miles west of Craig. A river flowed through this area 150 million years ago, and many dinosaurs lived near it. Some died near the river, and when it overflowed during rainy seasons, the current picked up some of the carcasses, a few whole ones, but mostly only their bones. The river deposited the remains in the main channel, and buried them in sand and gravel to be excavated eons later, when on August 17, 1909, 20 miles east of Vernal, Utah, paleontologist Earl Douglass discovered a 200-foot long sandbar of sorts, layered with prehistoric plant and animal fossils. Douglass and his crew excavated about 350-tons of fossils, including full skeletons and remains of some dinosaur species previously unknown. Over 2,000 dinosaur bones are exposed in the sandstone wall, and complete skeletons are exhibited in museums throughout the nation. Today the 200,000-acre area features the most productive Jurassic Period dinosaur quarry in the world.

WEBSITES OF INTEREST:
Bear Valley Inn
Craig Chamber of Commerce
City of Craig
Craig Community Profile
Northwest Colorado Showcase
White River National Forest
Dinosaur National Monument

Information herein has been obtained from what are believed to be reliable sources, however, Anton Hospitality Brokers, Inc., cannot guarantee its accuracy. References and information contained herein are approximate only and are subject to changes and errors. Assumptions are based on professional management and marketing of the property and future operating results will vary depending on ownership. Buyers must conduct their own investigation and due diligence and consultation with a professional financial advisor is highly recommended. Price is subject to change without notice.