Asking Price: $5,200,000

Located in historic and beautiful Manitou Springs, The Rodeway Inn and separate restaurant provide a unique opportunity to new owners. This combination of restaurant and inn has unlimited potential in creating new economic benefits, limited only by one’s imagination. The restaurant, built in 1971, has successfully served the Manitou Springs and Greater Colorado Springs area for nearly 38 years having established an outstanding reputation for exceptional dining, receptions, dinner theater performances, and special events. The Inn, originally built in 1998, is a Triple Diamond rated AAA property that recently underwent over $100,000 in capital improvements to convert to a Rodeway Inn franchise. The expected benefit is a 20-30% increase in occupancy.

The restaurant has a large kitchen facility with two working lines. There are several rooms that accomodate large gathrings along with an outdoor patio. The main level alone has a seating capacity of about 350 to 400 persons with an additional 200 person capacity in the lower level..

The Rodeway Inn consists of 49 oversized, deluxe rooms & suites. Some suites have cozy fireplaces and jacuzzi tubs. All 49 rooms have refrigerator, microwave, coffee pot, hair dryer, television with regular cable channels and WiFi accessibility. Associated with the Inn is a large outdoor pool.

This fabulous property is located on a major corridor between Colorado Springs and downtown Manitou Springs and is close to many areas of attraction, including the world famous Garden of the Gods, the Cog Railway, Cave of the Winds, Cliff Dwellings, Pikes Peak and many, many more.

Year Established: 1971

Franchise: Yes

Facilities: The restaurant was built in 1971 and is approximately 17,438 sq. ft. It consists of two floors, with a main staircase inside and an outside entrance into the downstairs and a full size elevator located in the kitchen. The Inn was built in 1998 and has two buildings, one is 14,031 sq. ft. and the other is 9,852 sq. ft. Currently, there are 49 rooms available for occupancy along with a two-bedroom manager's suite.The property includes 101,000 sq. ft. of land with about with 270 parking spots and an outdoor pool. The Inn has just completed a $100,000 capital renovation to meet the specific requirements to become a Rodeway Inn franchise.

Market Outlook and Competition: The owner had given consideration to a more integrated motel and restaurant environment to compete with the bigger hotel/motel configurations. The size and layout of the restaurant and motel afford a new owner considerable flexibility in designing a new combination, limited only by one’s imagination. This property is located in a very popular tourist area with a number of hotels in the immediate surrounding area. This property has an advantage over many of the other motels in the area because it is one of the newer proprties in the area and has a full service and special event restaurant.

Reason For Selling: Owner is of retirement age. and wants to pursue other personal interests.