A Prescott, Arizona landmark, the Prescottonian hotel is known for personalized service, great value and an unbeatable location.
This property is an off market deal. The underlying fundamentals of the area, the cashflow, and the market are ideal. The hotel market in general suffered severly from covid shutdowns. This property was put under contract at the lowest point of the hotel market cycle (the first time in 10 years that the market declined), at a very strong double digit cap rate. As the market rebounds, we expect to make high amounts of appreciation, while receiving good cashflows.