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Ramada by Wyndham Burkburnett/Wichita Falls – Image Credit HVS
HVS announces the opportunity to acquire the Ramada by Wyndham Burkburnett/Wichita Falls hotel. This 80-room, limited-service hotel asset is situated in Burkburnett, Texas, along the Texas/Oklahoma border, north of Wichita Falls.
The hotel asset, which is bank-owned (REO), is managed by a third party. The acquisition offers potential investors the chance to own a recently renovated property, thus providing a blank canvas to implement their sales and revenue-management strategies.
The lender claimed the hotel in October 2024 and is currently managed by a third party. It will be delivered free from any management agreements, making it an ideal opportunity for an owner/operator. A 51-key count is considered a perfect size for an owner/operator.
According to the December 2024 STR report, the hotel’s performance placed it seventh among its eight competitors for year-end RevPAR. This ranking indicates a significant scope for improvement.
In the past six months, the lender has invested substantial capital to convert the hotel into a Ramada by Wyndham. The updates included new carpeting, paint, signage, and exterior work. Given these recent renovations, a minimal change-of-ownership property improvement plan (PIP) is expected.
The hotel demonstrated a consistent room revenue trend from 2020 to 2023, with an average of $1,053,000. Based on HVS’s pro-forma projections, stabilized rooms revenue is projected to exceed $1,120,000, with a net operating income (NOI) flow-through of $355,000.
The property’s location along State Highway 240/Sheppard Road, just east of I-44, provides excellent visibility and accessibility. With a planned Downtown revitalization project within two miles of the property, the hotel, Burkburnett’s only lodging facility, is positioned to capture high-rated transient and commercial demand.
Recreational demand generators in the Wichita Falls area, such as The Museum of North Texas History, Professional Wrestling Hall of Fame, Lucy Park, Lake Wichita, Comanche War Pony Casino, Kiowa Casino, and Comanche Red River Casino, add to the hotel’s allure.
The city of Burkburnett, located roughly 13 miles north of Wichita Falls, Texas, on the Texas/Oklahoma border, has a diversified economy spanning the healthcare, military, education, and manufacturing sectors. Wichita Falls’s largest employer, Sheppard Air Force Base, is home to the 80th Flying Training Wing and the EURO-NATO Joint Jet Pilot Training Program.
Additionally, Vitro Architectural Glass, a solar-glass manufacturer, has announced a $300-million expansion of its facility, located between Wichita Falls and Burkburnett. The expansion plans include creating nearly 300 new jobs, further boosting the area’s economic prospects.
Inquire at HVS.
