Terry Peterson
Oacoma, SD (USA)
Role(s):
Founder/Owner/Principal
T & S Hospitality, LLC
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Startup
Location:
Oacoma
Industry:
Hospitality
Year Founded:
2005
Number Employees:
10-50 people
Business Stage:
Mature
Entity Type:
Limited Liability Company
Description:
This property was completely renovated in 2010 and has an appraised value of $2,950,000. The hotel has been under the same management since 2001 and under the same ownership since 2005. The property is franchised as a Quality Inn by Choice Hotels. Gross revenue has increased every year since it was built in 2001 with the only exception being in 2010 due to renovations. Revenue for 2011 is expected to exceed one million. I am seeking $2,000,000 secured by a 1st mortgage position. The funds would be used to consolidate all current mortgages, payoff leases and other miscellaneous obligations. A balloon payment in 48 months would be acceptable.