Hodges Ward Elliott (“HWE”) is pleased to present the opportunity to acquire the fee-simple interest in the Courtyard Monroe Airport (“Property” or “Hotel”). Well-positioned in Monroe, Louisiana, adjacent to the Monroe Regional Airport and amid the area’s top demand generators, the Hotel sits at the region’s nexus of connectivity along Interstate 20.
Monroe is on the verge of massive growth, highlighted by Meta’s recent announcement of a new $10 billion investment into a state-of-the-art artificial intelligence data center. As Meta’s largest investment yet as a company, the development is expected to provide more than 1,000 permanent jobs and over 5,000 construction jobs, with wages exceeding 150% of the state’s current per capita average. Continued investments from blue-chip companies such as Meta and Amazon underscores the city’s growing significance.
| Address: | Monroe, LA 71203 |
| Year Opened: | 1999 |
| Renovated: | 2019 ($1.8M / $20,000/key) |
| Keys: | 90 |
| Stories: | 3 |
| F&B Outlets: | The Bistro |
| Meeting Space: | 2,676 SF |
| Interest Conveyed: | Fee Simple |
| Management: | Unencumbered |
| Labor: | Non-Union |
Investment Highlights
Region Attracting Major Investments
Monroe is actively investing in infrastructure to bolster its appeal as a destination. Meta recently announced a $10 billion investment in the region for a brand-new AI data center. Meta estimates the project will create more than 1,000 indirect jobs and more than 5,000 construction workers that will help build the 4-million-square-foot data center. Work is underway on a 2,250-acre section of the former Franklin Farm megasite in Richland Parish. Meta deemed it the largest investment they have made as a company, and Louisiana said it is one of the largest private capital investments in the state’s history. On top of this, Meta pledged to invest more than $200 million in local infrastructure improvements.
In late 2024, Amazon opened a new facility in Monroe, providing well-paying jobs and demand for the local economy. Additionally, plans are underway to establish a passenger rail service along the I-20 corridor, connecting Monroe with major cities such as Dallas-Fort Worth and Atlanta. This development is expected to enhance accessibility and stimulate further economic growth.
Optimal Accessibility
With Monroe positioned between Dallas and Atlanta, the city boasts a prime logistical advantage. The Hotel has direct access to I-20 and the Monroe Regional Airport, serving nonstop flights to multiple destinations. Monroe serves as an important connector to the eastern and southern United States.
Strong Operating Performance + Renovation Upside
The Property has consistently and significantly improved its performance over recent years, increasing RevPAR by greater than 30% since 2019. Currently operating with a $90+ RevPAR, the Courtyard has performed extremely well compared to its competitive set. A new owner will have the ability to implement the latest brand standards during their hold period, further cementing the Courtyard’s dominance on the surrounding area given its premium branding and refreshed product. The Hotel is poised to grow in concert with the growth of the surrounding area.
Premium Branding - New Long-Term License Available
The Property benefits from its affiliation with Marriott and has a new long-term license available for the next owner. Marriott is the world’s most recognizable and top-performing hospitality brand and provides centralized marketing, booking, and rewards systems, providing the Hotel with access to 200 million Marriott Bonvoy members. Courtyard by Marriott is a top-tier brand and arguably one of the most valuable franchise brands in the limited-service space in the US. The brand currently has approximately 1,100 Properties nationwide, demonstrating a high level of growth. In addition, this growth translates to owner confidence in long-term cash-on-cash returns as well as reversion value.
