13715 SAYWARD BLVD Herndon VA 20171-6305

The Hotel benefits from strong demand as it is strategically located in the northwestern suburbs of Washington D.C., approximately three miles from the Dulles International Airport. This hotel is just minutes from some of the city's leading businesses, including IBM, Amazon, Northrop Grumman, Raytheon, Boeing, Cisco Systems and Lockheed Martin.

The acquisition of the Courtyard Dulles Airport represents a tremendous opportunity to acquire a premium-branded, select service Hotel in a dynamic airport market. The Hotel is being offered well below replacement cost and provides a new owner the opportunity to benefit from continued revenue growth since the conversion of the property from Sheraton in 2019 and addition of the nearby Silver line. A focused investor will be in an extremely advantageous position to begin operations in an up-to-date building while tailoring operational and revenue management practices to further improve performance.

• Impeccable Location Near New Silver Line Development: The Courtyard Dulles Airport Herndon is located near the interchange of Route 28 and Route 267, providing easy access to shopping, dining and DC attractions. The Hotel benefits from strong demand as it is strategically located approximately three miles from the Dulles International Airport. This hotel is just minutes from some of the city's leading businesses, including IBM, Amazon, Northrop Grumman, Raytheon, Boeing, Cisco Systems and Lockheed Martin. The Hotel is located in close proximity to the Silver Line Dulles Airport station that is currently under construction, this project is a part of the $5.8 billion phase 2 expansion of the silver line. The project is expected to be complete quarter one 2022.
• Recently Renovated; Minimal PIP Expected: In 2018/2019, the Property was converted from a Sheraton and completed a comprehensive $5.3 million ($28,3000/key) renovation. Renovation work included Public Area FF&E, Public Area Construction, Guestroom FF&E and Guestroom Construction.
• New Buyer will Capitalize on Ramp Up Period: The Courtyard Dulles Airport did not have a chance to fully ramp up due to the property completing a major renovation just before the COVID-19 pandemic. This translates to a new buyer being able to capitalize on the tremendous opportunity for future growth in Occupancy and ADR at this property. Furthermore, there will be minimal, if any, PIP requirement upon acquisition.
• Highly Desirable Brand Affiliation: Courtyard is internationally recognized as a member of Marriott International, one of the largest and most popular hotel companies. As a member of the Marriott family, the subject Property enjoys the benefits of a superior reservation system and the Marriott Rewards program that has one of the largest memberships among the major hotel companies. The brand consistently ranks among the top Marriott brands in guest satisfaction and has won numerous J.D. Power awards for service.
• Unencumbered by Management or Debt: The Hotel is currently operated by a third-party hotel management company. The buyer will not be required to assume this agreement, allowing for a more focused ownership/management team to implement revenue growth and cost management techniques.
• Ability to Acquire Below Replacement Cost: Based upon price guidance and PIP costs, the new investor will be able to acquire the Hotel well below replacement cost.
• Fee Simple Interest: The Property will be offered as fee simple, which will be extremely attractive to the investment community.