CITY & COUNTY LOCATION: Southwest Nebraska, on coast-to-coast Interstate Highway 80, as well as U.S. Highway 83 leading from the Mexican border in the south to the Canadian border in the north.  Less than one hour from the Colorado Stateline in the west, the city is located in the heart of America's agricultural breadbasket. The City of North Platte, seat of Lincoln County, has a population of about 25,000 people. Offering great schools, a very positive business environment, and a superlative strategic location with its giant Union Pacific railroad hub, coast-to-coast Interstate Highway 80, and its very own airport with daily commuter flights to Denver, Colorado’s, International Airport (DIA) featuring flights to just about anywhere in the world. North Platte is a terrific place to bring up a family or to retire to from hectic big-city life.

Lincoln County population is at approximately 36,000, continuously growing, and with the convergence of the North Platte and South Platte Rivers just east of the county seat, offers world-class fishing, hunting, and a great lifestyle for young and old alike. Six (6) miles south of town on Highway 83, Lake Maloney has 1,650 surface acres of water with a maximum depth of 35 feet. Featuring several boat ramps around the lake, it is renown for spring walleye, white bass, perch, crappie, striped and largemouth bass and freshwater drum. Catfish too can be taken all summer throughout the lake.

In addition to outdoor activities like bird and game hunting, fishing and boating on rivers and lakes, the North Platte Recreation Complex offers a large swimming pool, whirlpool, general exercise room, a multipurpose gym, universal weight room, racquetball courts, basketball, volleyball, tennis, or just run a few laps on the cushioned rubber floor, all under one roof and at a reasonable price. North Platte offers not less than four (4) golf courses, and several more can be found in neighboring towns.

PROPERTY LOCATION: About one-third of a mile (six blocks) north of Interstate Exit 177, the subject hotel occupies a very prominent position the length of a city-block, at the busy, traffic light controlled intersection of South Jeffers Street (U. S. Highway 83 and the city’s main north/south avenue) and Leota Street (south) and Francis Street (north). To the west, directly behind the hotel, and bordered by South Willow Street, W. Leota, and W. Francis streets as well, is the location of the 116-bed Great Plains Regional Hospital, the area’s regional medical center.

Directly across from the hotel, on South Jeffers, one will find the large Wal*Mart Supercenter®. Immediately to the Supercenter’s north, and separated only by E. Francis Street, is the location of the city’s main shopping center, the Platte River Mall, featuring more than 25 stores. Additionally, most national-chain restaurants, owner-operated full-service restaurants, shopping, offices, museums, theaters, and other services, are all within an easy-to-reach walking distance from the hotel.

HOTEL HISTORY: Originally built in 1974 as a two-story, full-service, 120-guestroom Ramada Inn, it’s name was changed shortly thereafter to ‘The Stockman’s Inn’, and later yet to it’s current ‘Royal Colonial Inn’ moniker. At the end of 2007, the property razed the 56-guestroom annex between the hotel and the hospital, to make room for a large, newly constructed national-brand pharmacy. As of January 16, 2008, the property has been operating with 63-guestrooms, with the ability to restore or convert underutilized storage spaces and offices into additional guestrooms.

Leased to a successful third-party operator, in place for more than two-years already, the flourishing full-service ‘Crab Leg Restaurant’ serves American cuisine, popular with locals and motel guests alike. Along with a cocktail lounge and meeting facilities, the net lease income is $6,700.00 per month, $80,400.00 per annum. Seller and tenant recently executed a lease-extension for one (1) additional year, with to-be negotiated extensions.

Since its conception in 1974, life-long residents of the community have owned the motel. Life-long residents as well, the current ownership, ranchers by bloodline and education, wishes to sell after a holding period of more than four (4) years, to pay more attention to the core business of cattle ranching.

PROPERTY DETAIL: The Royal Colonial Inn is currently operating as a 64-guestroom property, including 2-suites, in the very midst of the busy city’s hotel and lodging center.

All guestrooms of the L-shaped, 2-story property, feature tub/shower combinations and cable TV. Heating and cooling is provided with individually controlled HVAC units, high-speed Internet access (not in all guestrooms available), a state-of-the-art telephone system and alarm clocks. Refrigerators and microwaves are available at request. Well-lit, easily accessible interior entrances assure comfortable access to each room without fear or stress. There is ample parking for vehicles of all types, with electrical hook-up possibilities in place for recreational vehicles.

A large Porte Cochere assures dry and secure access to the front lobby and guest registration area during any and all weather conditions. Quality accommodations for physically impaired guests are in place as well. Fax and copy service, a lobby computer station for Internet use, complimentary coffee and ice, a somewhat limited continental breakfast, truck parking, a garden area featuring a seasonal swimming pool, hot tub, lounges, tables, and benches are there for the guests enjoyment and use.

A profitable, coin-operated guest laundry is located around the corner from the front desk, as are soft drink and snack machines. Furthermore, the property offers very nice, large and comfortable, two-bedroom - two bath, living quarters with a great open living room and kitchen for hands-on owners or managers. A well-equipped commercial motel laundry facility is in place too. Situated on approximately two-plus (2+) acres (+/-) of land, while upgrading is recommended, the facilities are in good condition.

2007 REVENUES & EXPENSES, all normalized for 64-Guestrooms at a current state of Operations $512,216.00, at and Occupancy Rate of 65.39%, and an Average Daily Rate of $35.50. The restaurant, cocktail lounge, and meeting room lease of $84,000.00 annually, is in addition to the guestroom revenue.

TERMS: Cash; SBA guaranteed Bank loan; or commercial financing. Seller may carry for qualified Buyer. Anton Hospitality will assist with the procurement of viable financing.

Expenses consist of Labor Cost, including Management, Payroll Taxes & Workmen's Compensation Insurance amounts to approx. $200,166.97; Advertising $2,203.03; Utilities (Electric/Water/Sewer/Gas/Waste Disposal, Telephone and Cable TV) approximately $78,948.47; Hazard & Liability Insurance approx. $14,789.95; Repair, Maintenance & Maintenance Supplies $13,063.03; 2007 property taxes approx. $26,897.00; and Supplies/Office Supplies were approximately $18,523.39. Total expenses amount to approximately $381,270.86.

FINANCIAL UPSIDE to consider: Franchise/Membership Affiliation; Hotel Website; updating of hotel fixtures, furniture and equipment (FF&E); updating of guestroom soft goods; updating of guest-bathrooms; expansion of wireless Internet access to ALL guestrooms; installation of new 36” flat-screen television sets; installation of new direct-dial telephone system (CC-use only); installation of security-lock key-card system; computerization of front desk; installation of a 90-foot flagpole; light-up the exterior walls of the building; improve parking lot lighting, etc.
It shall be noted that, while the hotel is in relatively good condition, there are the above items, as well as additional ones, to consider. Each and every one of them will bring financial improvements to the cash register almost immediately.

Additionally, there has been no marketing effort at this property for the last several years. Printing and organized distribution of high-quality rack-type brochures is highly recommended.

WORTHY OF SIGHTSEEING: Buffalo Bill State Historical Park; Buffalo Bill Ranch; Cody Park & Wild West Museum; the Old Oregon Trail - Mormon Pioneer Trail; Dancing Leaf Earth Lodge; Lincoln County Historical Museum; Cody Park Railroad Display; Sandhill Safaris; Sandhill Crane Wetlands; Wildlife Kingdom; Wildlife Tours; annual Nebraskaland Days; and much, much more.

WEBSITES OF INTEREST:
North Platte Chamber of Commerce
City of North Platte
Visitor’s Bureau
North Platte Telegraph

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.