Paul Cronen
Moorhead, MN (USA)
Role(s):
Founder/Owner/Principal
AmericInn Lodge & Suites & Event Center of Moorhead
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Startup
Location:
Moorhead
Industry:
Hospitality
Year Founded:
2003
Number Employees:
50-100 people
Description:
Investors wanted for established hotel. Caught between business financing cycle and bad economic lending restrictions by banks. Hotel is in a strong small metro area with a continuing need for hotel rooms. Property went through a $2.5 million remodel 5 years ago. Solid management in place. Property description - 168 unit AmericInn Hotel in Moorhead MN. Full service property, 12000 sq. ft of banquet space, Comedy Club with 5 national comedians each week,an evening grill & lounge. An inside 9 hole championship golf course. NOI has risen considerably over the last few years and continues up. 2007 Revenues over 2.5 mill with a NOI of
550,000 plus. This year is as strong, numbers NOI numbers coming. Excellent award winning management staff in place. Looking for owner investors or limited investors. Property appraised for over 5 million 3 years ago, and has experienced continued NOI growth. e-mail me at (URL removed) or call (Phone # removed). Thank you.