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CBRE Auctions | Online - CBRE Marketplace

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<strong>CBRE</strong> <strong>Auctions</strong> | <strong>Online</strong><br />

Capital Markets | Auction Services<br />

ONLINE AUCTION DATE :: MAY 8<br />

HOWARD JOHNSON<br />

3027 W HIGHWAY 76 | BRANSON, MO<br />

:: MINIMUM BID<br />

To Be Sold To The Highest Bidder<br />

At or Above $1,000,000<br />

:: BROCHURE


HOWARD JOHNSON | BRANSON, MO<br />

THE OFFERING<br />

On Wednesday May 8, 2013 Auction Services is pleased to present for online auction the Howard Johnson located<br />

at 3027 W Highway 76 in Branson, Missouri. The property is being sold unencumbered by brand and management.<br />

The Hotel includes ±344 rooms, business center, outdoor pool area, and meeting space.<br />

The Howard Johnson enjoys an excellent location near several major demand generators including Titanic-Worlds<br />

Largest Museum Attraction and Ripley’s Believe It or Not Odditorium. The Hotel is also located less than four miles<br />

from downtown Branson and seven miles from the M. Graham Clark-Taney County Airport.<br />

INVESTMENT HIGHLIGHTS<br />

• Repositioning Opportunity - This investment • Unencumbered by Management and Brand<br />

represents an excellent opportunity to acquire the Affiliation - The Howard Johnson is available<br />

Howard Johnson and enhance the asset’s profitability unencumbered by management or brand allowing<br />

through repositioning. The asset is available to an owner/operator to benefit from management fees<br />

rebrand or convert to an independent lodging facility as well as potential operating efficiencies gained<br />

while also benefiting from the stable Branson lodging from local or regional synergies.<br />

market.<br />

• Discount to Replacement Cost - The property is<br />

• Dynamic Market - Branson enjoys a mature lodging being offered at a price that will allow a new owner<br />

market. It is home to a diverse selection of hotels to make capital improvements and still be able to<br />

offering a variety of accommodations and a wide achieve a much lower all-in cost compared to the<br />

price range. Branson is a top vacation destination asset’s replacement cost.<br />

market with a myriad of attractions including over<br />

50 show theatres, caves and caverns, museums,<br />

theme parks, lake cruises, boating, fishing, kayaking,<br />

canoeing, golfing, and other outdoor activities.


BRANSON | AREA OVERVIEW<br />

Branson is located in the southwest corner of Missouri near<br />

the borders of Oklahoma and Arkansas. The frontier town<br />

of Branson was established in 1882, and for much of its<br />

early history, tomato canning was the predominant industry.<br />

This changed in 1896 when a visiting minister was charmed<br />

by the area’s scenic beauty that inspired him to write a<br />

book set in the region. The popularity of the book ignited<br />

a tourism boom in Branson, and since the early 1900’s<br />

tourism has been Branson’s principle industry. Branson’s<br />

tourism base expanded throughout the first half of the 20th<br />

century. In the 1950’s federal funds were appropriated for<br />

a dam construction project in Branson, sparking a flurry<br />

of entrepreneurial activity. Around this time several groups<br />

collaborated to have Branson’s first performance theatre<br />

built, and due to the success of this initial theatre, several<br />

other performance venues were created. Initially, these<br />

theatres were family-run and showcased local talent, but<br />

over the years the venues became popular with touring<br />

national entertainers.<br />

Today there are more than 50,000 seats in 40 theatres<br />

and nearly 500 shows by over 70 different acts each year.<br />

Branson’s performing arts industry now attracts more than<br />

8 million visitors annually. In the late 20th century, town<br />

leaders in Branson were wrestling with the impacts of relying<br />

on an economic development strategy that they coined as<br />

a “one-legged stool.” As tourism created a multitude of<br />

employment opportunities, many of the jobs were limited to<br />

specific time periods during the year. Due to Branson’s high<br />

level of seasonality, city officials embarked on a strategy<br />

to diversify its existing tourism strategy and to create more<br />

consistent year-round employment opportunities.<br />

In the early 2000s, local leaders unveiled plans for Branson<br />

Landing, a mixed-use project on Lake Taneycomo that<br />

included a 220,000 SF convention center, 140 waterfront<br />

luxury condominiums, and nearly 400,000 SF of retail<br />

space. This project represented an attempt to diversify<br />

Branson’s economy beyond musical entertainment and<br />

provide a stable, year-round economic impact. The scale of<br />

the Branson Landing project exceeded initial expectations<br />

and, through financing, generated an additional $130<br />

million for new infrastructure in the city. Today, Branson<br />

Landing rivals major mixed-use projects in cities across the<br />

country and attracted more than 1 million visitors in its first<br />

eight weeks. The city estimates that Branson Landing brings<br />

in more than 500,000 new visitors each year and helps<br />

generate more than $180 million in economic activity and<br />

another $8 million in tax revenue.<br />

PROPERTY DESCRIPTION<br />

Address<br />

3027 W Highway 76<br />

Branson, MO 65616<br />

Guest Rooms<br />

±344<br />

Parcel Size<br />

± 6.7 acres (±268,765 SF)<br />

Gross Building Area<br />

±129,877 SF<br />

Meeting Space<br />

±960 SF<br />

Hotel Amenities<br />

Outdoor pool complex, guest laundry, free parking,<br />

children’s playground, business center


Capital Markets | Auction Services<br />

SEE. BID. OWN.<br />

HOWARD JOHNSON :: 3027 W HIGHWAY 76 | BRANSON, MO<br />

AUCTION DAY<br />

The property will be offered “Minimum Bid” to the highest<br />

bidder at or above $1,000,000 in an online auction<br />

format.<br />

MAY<br />

8<br />

Wednesday, May 8th<br />

Bidding Start – 2:00pm CT<br />

Bidding End – 4:00pm CT<br />

www.cbremarketplace.com/howardjohnsonbranson<br />

PROPERTY INSPECTION<br />

The property will be available for inspection at<br />

2:30pm CT , on the following dates:<br />

Tuesday, April 16th | Tuesday, April 23rd<br />

Please note: All property inspections require registration<br />

and begin promptly. Please arrive at the designated<br />

meeting place a few minutes early to complete the required<br />

inspection registration form. To register for a property<br />

inspection or for any questions please call <strong>CBRE</strong> Auction<br />

Services at 800-815-1038. <strong>CBRE</strong> Auction Services<br />

represents the Seller in this transaction. Do not contact<br />

the Seller directly.<br />

DOCUMENT CENTER<br />

A Document Center has been made available for your convenience to review the available property specific information.<br />

The Document Center contains property information which typically includes: Purchase and Sale Agreement, Preliminary Title<br />

Commitment, Tax Bills, Environmental Report, Survey, and other pertinent property information. All bidders are required to<br />

purchase access to the Document Center as a condition of the auction. The Document Center access fee is $25 and may be<br />

paid by cash, check or credit card. Access can be obtained by visiting the auctioneer’s website at www.cbremarketplace.com/<br />

howardjohnsonbranson.com. Bidders will be required to execute a document indicating that, among other things, they have<br />

purchased access to the Document Center and have had the opportunity to review the items contained therein.<br />

INITIAL EARNEST MONEY<br />

In order to be eligible to bid, all bidders are required to wire transfer or present a cashier’s or certified check in the amount of<br />

$75,000 made payable to Title Company acting as Escrow Agent designated in the Purchase and Sale Agreement. Additional<br />

earnest money may be required from the purchaser. Please review the Purchase and Sale Agreement, available in the Document<br />

Center, for more details.<br />

BUYER’S PREMIUM<br />

A Buyer’s Premium in the amount of 10% of the Auction High Bid Amount will be added to the Auction High Bid Amount in<br />

order to determine the Total Purchase Price. Please review the Terms and Conditions of the Auction for more details.<br />

BROKER PARTICIPATION<br />

Broker participation is invited and requires adherence to the specific registration requirements as outlined in the Terms and<br />

Conditions. Please review the Terms and Conditions for more details.<br />

AUCTION DISCLOSURE<br />

The property is being offered on an “as-is, where-is” basis. Each bidder acknowledges that it is not relying upon any<br />

representation, statement or other assertion by the Seller, <strong>CBRE</strong>, Inc. or any of the agents, representatives or employees of any<br />

of the foregoing, with respect to the condition of the property, square footage, acreage and financial information, but instead,<br />

is relying upon the bidder’s own examination and investigation of the property. Please review the Terms and Conditions of the<br />

800.815.1038<br />

For more information please visit our website at<br />

www.cbre.com/auctionservices<br />

© 2013 <strong>CBRE</strong>, Inc. The information contained in this document has been obtained from sources believed reliable. While <strong>CBRE</strong>, Inc. does not doubt its<br />

accuracy, <strong>CBRE</strong>, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm<br />

its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future<br />

performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal<br />

advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the<br />

property for your needs. Photos herein are the property of their respective owners and use of these images without the express written content of the owner<br />

is prohibited. <strong>CBRE</strong> and the <strong>CBRE</strong> logo are service marks of <strong>CBRE</strong>, Inc. and/or its affiliated or related companies in the United States and other countries. All<br />

other marks displayed on this document are the property of their respective owners.PMC0003448

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