The Winslow Inn at 701 W. Third Street in Winslow, Arizona, is offered for sale at an asking price of $1.9 million. This sale is on an “as is, where is” basis, and is based on the real estate value and projections only. The property is located on the old Route 66 and within two miles of Interstate 40.
Property tours by appointment only. Do not disturb employees. Prospective buyers are allowed to tour the property. To schedule a tour, please contact the brokers.
The Winslow Inn was built in 1977, and has operated as an independent hotel for over 40 years. The 64- room hotel consists of deluxe king, deluxe queen, deluxe double, and deluxe two queen rooms. Each room has cable TV, heat and air conditioning, high-speed wireless Internet, and a telephone for free local and long distance calls. Irons, ironing boards and hair dryers are also available upon request. Select rooms have microwaves and refrigerators.
The property also has owner living quarters, which are some of the existing rooms converted into an innkeeper’s suite. It consists of a large living room (the size of two rooms), as well as a kitchen and bedroom. There is a two-story apartment on site, which the owner currently rents out the top floor and uses the bottom floor as storage. There is also a night window that allows check in to occur after hours.
There is opportunity for increased growth in both occupancy and revenue. Location and low rates ($59+tax/night and $49+tax/night) result in many repeat guests. The majority of clientele includes tourists, railroad employees (short distance from BNSF railroad transfer station), police (station is across the street), Northland Pioneer College students and guests, and fans of the rock band Eagles (Standin’ on the Corner Park is less than a mile from the hotel).
The hotel was originally purchased by the current owner 18 years ago as a family-run business. The owner, his wife and one of his sons took over the responsibility of the day-to-day management of the property. The son moved out of town and purchased his own hotel. The wife has health issues, which has kept her from working; and the husband currently runs and manages the hotel with one cleaning person. The owners are, and have been, at the point that they do not want to run the hotel any longer and have not been seriously pursuing business for the past few years.
