Watertown Hospitality for Sale - Jefferson North
Market-Leading, Limited-Service Hotel with Attainable Upside Offered at a Significant Discount to Replacement Cost
Fee Simple, Non-Union Hotel Offered Unencumbered of Management with Potential for Considerable Cash Flow Appreciation
Premier Midscale Brand Featuring a Modern Product Offering and Bolstered by Best Western’s Extensive Global Loyalty Program – Best Western Rewards (Higher Rewards Program Revenue Generation than IHG, Choice, and Wyndham)
Value-Add Opportunities via Utilization of the Recently Completed Bar Area and Reactivating the Indoor Meeting and Outdoor Courtyard Spaces
Central Watertown Location Only 5 Minutes from Main Street (Commercial Historic District) and Proximate to the Submarket’s Most Frequented Demand Generators/Retail Amenities
Highly Accessible Location with Access to Johnson Creek and Oconomowoc, in Addition to the Region’s Two Largest Metros – Madison and Milwaukee, WI
No New Supply Under Construction
Strategically positioned along the banks of the Rock River in Watertown, WI, only a 5-minute drive from Main Street – a commercial historic district where business and leisure travelers alike can enjoy an eclectic mix of more than 50 shopping and dining destinations – the recently renovated and modern Best Western has demonstrated the innate ability to consistently outperform the submarket and rank as the #1 performing hotel over the past four year end periods.
Boasting a highly accessible location along Aviation Way – immediately east of S Church Street which leads directly into Main Street and Route 26 – the Asset also benefits from being positioned adjacent to the Watertown Municipal Airport and connectivity to the 120-bed Watertown Regional Medical Center and Dane County Regional Airport – a transit hub which served over 1.9 million passengers in 2022 and recently delivered an $85 million terminal expansion adding three new gates and 45,000 SF of restaurants, retail, and public space. Furthermore, situated between Johnson Creek (10-minute drive) and Oconomowoc (20-minute drive), guests can easily access the Johnson Creek Premium Outlets and its +60 shops and restaurants, including Eddie Bauer, Nike, Banana Republic, and Coach, in addition to the renowned Oconomowoc Lake and the array of leisure activities/destinations it offers.
The Best Western Watertown offering represents a unique opportunity for a new owner to acquire a fee-simple, non-union, market-leading hotel, featuring a highly coveted modern product offering at a notable discount to replacement cost. In addition, offered unencumbered of management, a potential buyer will have the opportunity to implement an operator of their choosing along with a customized business plan that further enhances the Hotel’s strong in-place market share (#1 rank), while simultaneously improving operational efficiencies to yield strong cash-flows and attractive exit capitalization opportunities. A potential buyer will also have the unique capability to leverage a recently completed bar which has yet to be utilized and reactivated meeting room and outdoor courtyard spaces, providing significant value-add upside. When combined with no new supply under construction and the Asset’s ranking as the #1 Hotel in Watertown, WI by TripAdvisor, the Best Western Watertown offers a compelling investment opportunity in the current economic landscape.
