Quality Inn Covington Virginia
About This Property
Marketing description
Prime Hospitality Investment – Covington, VA | $2,300,000
Exceptional opportunity to acquire a turnkey 48-room Quality Inn situated in the high-traffic I-64 corridor (43,000–47,000 ADT). This well-maintained property captures a consistent mix of corporate stays and tourism revenue, anchored by major regional employers like Smurfit WestRock and nearby outdoor attractions like Falling Spring Falls.
Key Features:
Turnkey Condition: Modern lobby, updated guest rooms, and granite bathroom vanities.
Strong Economic Drivers: Proximity to major industrial hubs and the Alleghany Highlands tourism circuit.
Strategic Logistics: Excellent visibility and easy access to US-220 and US-60.
This is an ideal asset for an owner-operator or investor looking for stability and growth in a robust Virginia market.
Contact Harsh Patel at 540-514-0315 or [email protected] for more information.
Investment highlights
Investment Highlights
Financial Performance & Value
Strong Revenue Stream: The property consistently generates approximately $650,000 in annual gross revenue, demonstrating a robust and stable income base.
Attractive Pricing: Offered at $2,300,000, representing a competitive 3.5x Room Revenue Multiplier (RRM)—a highly desirable entry point for the Virginia hospitality market.
Proven Cash Flow: A high-performing asset with excellent net cash flow, providing immediate returns for an owner-operator or a hands-off investor.
Location & Demand Drivers
Strategic I-64 Corridor: Situated on a primary transit artery with an Average Daily Traffic (ADT) count of 43,000–47,000 vehicles, ensuring a constant flow of "walk-in" and reservation-based business.
Industrial Anchor: Located in close proximity to Smurfit WestRock and other major manufacturing hubs, securing a reliable year-round base of corporate and contract lodging.
Tourism Gateway: Just minutes from the Alleghany Highlands' premier attractions, including Falling Spring Falls and Douthat State Park, capturing significant weekend and seasonal leisure premiums.
Asset Quality
Turnkey 48-Room Facility: A manageable scale that optimizes labor costs while providing enough inventory to accommodate large tour groups or corporate crews.
Modern Guest Experience: Featuring a contemporary lobby, business center, and upgraded room finishes that allow for immediate competitive positioning without the need for heavy initial CAPEX.
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