Announcement of Auction for Red Roof Inn Plus Membership Interest
AW Properties Global, in collaboration with AuctionWorks, is thrilled to share a promising business opportunity. They will be auctioning off 75% of the membership interest in Ephant Group - Redroof, LLC, which owns the operational Red Roof Inn Plus that features 48 rooms. This hotel, known for its excellent upkeep, is ideally located and has caught the attention of numerous potential investors.
Upcoming Auction Details
Mark your calendars: the auction will take place remotely on a specified date, allowing bidders to join in from any location. This format makes it convenient for those interested and helps reach a wider pool of bidders. The auction kicks off with a starting bid set at $100,000, providing a unique opportunity for anyone wanting to make a move in the hospitality industry.
Why Invest in This Property?
The Red Roof Inn Plus is located in a prime area, easily accessible to various local attractions. With a range of amenities, including free Wi-Fi and options for pets, it caters to guests seeking budget-friendly stays without sacrificing quality service.
Understanding the UCC Sales Process
The auction follows a UCC foreclosure sale structure. Unlike classic foreclosures, UCC sales focus on selling interests rather than the property itself, which can cut down on liability for buyers. This distinctive feature is appealing to many investors, making this auction particularly enticing.
Reasons to Invest in Red Roof Inn Plus
Diana Peterson, CEO of AW Properties Global, notes that the Red Roof Inn Plus presents a strong entry point into a successful portfolio, thanks to its operational achievements and impressive customer ratings. With a high 4.5-star rating, it stands out as a sought-after spot for budget-conscious travelers.
Hotel Features
The hotel boasts several features designed to enhance guest experience, including:
- Location: Conveniently located off US-150 Bypass.
- Property Type: A well-established brand recognized nationwide.
- Amenities: Comprehensive amenities available, including breakfast and recreational facilities.
- Operational Status: Currently operational, consistently drawing guests.
- Occupancy Rate: Operational status indicates a steady potential for revenue.
Contact for Bidding Information
Prospective bidders should contact the counsel representing Gao Family Office, LLC. They will provide detailed bidding procedures and terms upon request. For inquiries, please reach out to James P. Roberts, Esq. at Burr & Forman LLP.
About AW Properties Global
AW Properties Global is a top-tier firm with a wealth of experience in real estate and auction services. Their dedication to client satisfaction is reflected in their stellar track record of assisting clients in maximizing their investment value. The firm offers a range of services, including investment sales and auctions, crafting customized solutions to enhance their clients' portfolios.
Frequently Asked Questions
When is the auction happening?
The auction is scheduled for November 8, 2024.
What is the minimum bid for participation?
The opening bid stands at $100,000 for the membership interest.
Where can I find the Red Roof Inn Plus?
The hotel is located at 210 Brenda Avenue.
What kinds of amenities does the hotel provide?
Guests can enjoy amenities such as complimentary Wi-Fi, a fitness center, and options that welcome pets.
Who should I contact for more details on the auction?
For further information regarding the auction, reach out to James P. Roberts, Esq. at Burr & Forman LLP.
