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Ingleside Lodge & Springs Waterpark in Pewaukee, WI
CBRE has been solely retained to solicit provides to amass the fee-simple curiosity within the 194-room Ingleside Lodge and Springs Water Park situated at 2810 Golf Street, Pewaukee, Wisconsin.
The Property is situated alongside Interstate 94 west of Milwaukee inside the Lake Nation of Waukesha County. The Lodge was comprehensively renovated in 2018 and is a pretty possibility for leisure, company and group clients with a wide range of facilities and greater than 40,000 sq. ft of superior indoor and outside assembly and occasion area.
The 45,000 sq. foot Springs Water Park was opened in 2005 and delights adults and children with thrilling tube and physique slides, a meandering lazy river, exercise pool, indoor/outside sizzling tub, zero-depth Waukesha Water Works, and the Geyser Video games Arcade.
The Property’s website has greater than 40 acres of land and is put to good use within the fall with the 26-year operating Nation Christmas winter wonderland. The Ingleside Lodge and Springs Water Park provides an investor a big impartial, absolutely renovated, properly established resort with in-place money circulation and large quick and long-term worth add alternatives.
Funding Highlights
- In 2018, the Lodge underwent a $15 million renovation which fully remodeled the visitor expertise with a up to date and heat design all through the Lodge in addition to up to date methods. A purchaser has little to no cap ex necessities and can be capable of give attention to operations.
- For the reason that renovation, the Lodge’s RevPAR penetration has exceeded historic ranges and will stabilize within the mid-120% stage.
- The Lodge started charging a $15 resort price in Could 2023. With 40,000 room nights a yr, this price may generate practically $600,000 of latest high-margin revenue.
- The Property has a number of extremely worthwhile revenue divisions together with rooms, in depth occasions and catering, the water park and arcade, and the Nation Christmas. These are well-developed, established, and acknowledged operations {that a} new supervisor can construct on.
- With over 41 acres of land, there could also be alternatives to increase the Property’s operation or promote items off, decreasing the premise within the general funding.
- That is an owner-run operation with restricted assets or distribution channels to drive income and work down prices. A purchaser will probably be capable of significantly enhance revenues and profitability with a bigger and extra sturdy administration firm supporting the operation.
- The Lodge has had a number of disruptions and vacancies in its gross sales employees, which have resulted in dropping group sale penetration; a brand new supervisor will be capable of run an aggressive gross sales and advertising marketing campaign that ought to result in substantial progress in income.
- This chance will commerce at a dramatic low cost to alternative value.
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