Siesta Motel Marrero, LA. Seller's Agent

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1 Offer Memorandum Siesta Motel Marrero, LA information contained herein and this information if offered subject to errors, omissions and changes without notice. Purchasers should conduct their own investigations and confirmation of information presented herein. The Hajari Realty, Inc. is the Agent of the Seller. Seller's Agent

2 Hajari Realty, Inc. Hajari Realty, Inc. (Seller Broker) is exclusively retained to offer the feesimple interest in the 68 room Siesta Motel, one of the leading premium and independent economy hotels in Marrero community, 8.8 miles from Louisiana s largest market, New Orleans, Louisiana. The renovated motel is available unencumbered by management, nonetheless likely available for licensing with flags (brands) affiliated with outstanding companies like Choice Hotels International, RLH Corporation, Wyndham Hotels International, Red Roof Inn Franchising, LLC, or Hospitality International, Inc. upon completion of a modest Property Improvement Plan (PIP). Built around 1972 with 68 guest rooms and a very SPACIOUS manager s / living quarters on-site, motel features include airconditioning / heating, daily housekeeping services, microwaves, refrigerators, telephones/tv s, and Wi-Fi access. The two-story exterior corridor property has approximately +/-14,400 square feet of building area situated on +/- 1 acres located on busy Westbank Expressway (Business 90) commercial corridor nearby to restaurants, (Perino s Boiling Pot & Seafood, Taco Bell, McDonald s, Burger King, Pizza Hut, Domino s, El Paso Mexican Grill, Wendy s, Smoothie King, and Sonic Drive-In) hotels (Baymont, Motel 6, & Comfort Inn) and retail business such as (Budget Saver, Piggly Wiggly, Winn-Dixie, CVS Pharmacy, Walgreens, Walmart Super Center, Lowe s Home Improvement, Home Depot, Auto Dealership and service businesses). The motel is located steps from West Jefferson Medical Center Hospital and prestigious educational institutions, such as Academy of Our Lady and Archbishop Shaw High School. The Siesta Motel is the only motel offering exterior-corridor budget friendly rooms that meet an underserved and unique customer-base that visits and works in the Marrero area. The motel offers spacious wellappointed guestrooms with microwave and refrigerators in all rooms. Please refer to pictures and further descriptions of this building in the offer memorandum. Located within thenew Orleans Metairie Kenner Metropolitan Statistical Area. Marrero s location and access to Business 90 (Westbank Expressway) makes it an ideal facility for hosting guest. Just a short drive (8.8 miles) to New Orleans, LA - Annual events such as the much celebrated ESSENCE Festival, Vodoo Festival, Bayou Classic, French Quarter Festival, New Orleans Jazz and Heritage Festival, and Mardi Gras -

3 Hajari Realty, Inc. The city of Marrero offers visitors Bayou Segnette State Park, Alario Center, Jean Lafitte National Historical Park & Preserve Barataria Preserve, as well many other parks and nearby attractions ( The hotel offers significant upside with more strategic management, direct sales efforts, and possibly branding to meet today s customers loyalty redemption programs available through various hotel chains. Today it is operating with stable inplace cash flow and above-average occupancy. The hotel has potential for increasing the RevPAR upon completion of a PIP and implementation of a more aggressive revenue management strategy. The ideal buyer will be an Owner Operator, regional Hotelier, or first-time hotel buyer, who completes a Minimal renovation, takes the time to enhance top line revenues while staying focused on operating efficiencies, thus achieving a stronger bottom line. Perfect size property to learn the ins-andouts of the hotel / lodging business. Year End December 2014 Revenues were: $656,691 Year End December 2015 Revenues were: $ 668,478 Year End December 2016 Revenues were: $ 599,006* Year End December 2017 Revenues were: $585,157* Year End June 30, 2018 Revenues were: $314,802 *Note: Motel experienced various turbulences due to federal political changes in the government related to oil drilling and production activities. Even with market suppression in the past, the motel is now re-poised this year (2018); thus rebounding due to oil activity increasing, increase in convention business, and market conditions improving. Please ask broker for details. The hotel can be financed through with various lenders at conducive terms. Please ask broker for details.

4 Hajari Realty, Inc. Asking price: $2,200,000 ONLY $32,000 per room Accepting the best offer! The hotel is located approximately 14 miles from the existing New Orleans International Airport (MSY) - a soon to be billion dollar upgraded new facility! Construction/New-Airport-Terminal-Under-Construction) Siesta Motel Marrero, LA In Place Steady Business well established in the community as an independent Bedroom Community 8 Miles from New Orleans, LA Upside Potential with Better Revenue Management Upside Potential with improved Owner-Operation Upside Potential with branding! Many OPTIONS avail. Well-maintained facility recently renovated! Perfect investment to live and work near MAJOR CITY Priced to Sell at $2,200,000 $32,000 per unit Accepting all OFFERS!

5 Hajari Realty, Inc. Property Identification Property: Siesta Motel Address: 5353 Westbank Expressway Marrero, LA Major Crossroads: Business - 90 (Westbank Expressway) and Barataria Blvd. (LA-45) County / Parish: Jefferson Parish Township: City of Marrero Building Features Year Open: 1972 Total Guest Suites: 68 Guest Room Mix: Double Queen: 16 Single King: 20 Singles Queen: 32 Suites: 0 Corridors: Exterior Floors:Two Buildings: Two (Bldg. 1 = 45 rooms / Bldg. 2 = 23 rooms) Elevator: N/A Porte Cochere: Clearance 9 Feet

6 Double Queen Guest Room Double Queen Mattress and Box Springs TVs Refrigerators / Microwaves New Guest Room Lighting Updated Painting & Bathrooms

7 King Standard

8 Guest Bathrooms Hajari Realty, Inc.

9 Hajari Realty, Inc. Exterior Building Photos

10 Hajari Realty, Inc. Exterior Building Photos

11 Hajari Realty, Inc. Exterior Building Photos

12 Hajari Realty, Inc. Exterior Building Photos

13 Hotel Amenities Hajari Realty, Inc. Meeting Space: N/A Other: Smoke Free rooms available Breakfast Area: N/A Free Internet Swimming Pool: N/A Business Center: N/A Fitness Room: N/A Guest Laundry: N/A Vending Areas - one ice machine Site Features Ownership: Fee Simple Site Size: +/ Acres Parking Spaces: 60+ Site Improvement: Paved/Concrete Parking, Exterior Lighting, Porte Cochere,Various Scrubs and trees Paved Area: +/- 15,000 Square Feet Signage: Pylon Porto Cohere: (9 foot height)

14 Business Performance Hajari Realty, Inc. Revenues (Hotel Stat Report) Room Revenue Room Revenue Room Revenue $585, $599, $668, Hotel Operating Statistics Occupancy ADR: ReVPAR: Hotel Competitive Set Please ask broker for details. Hajari Realty, Inc. Name City Year Built Rooms Baymont Inn Comfort Inn Motel 6 Best Western Marrero 2007 Marrero 2007 Harvey 1984 Westwego Hotel Competitive Set Occupancy: 60% - 75% ADR: $75 - $125 RevPAR: $46 - $56

15 Real Estate & Personal Property Tax Hajari Realty, Inc. Jefferson Parish: Real Estate Tax: $ (2017 pay 2017) Parcel #: Jefferson Parish: Real Estate Tax: $ (2017 pay 2017) Parcel #: Leased Equipment: None $28,741.24* *Total RE Taxes (approximate values) Renovations Last Date of Renovation: 2018 Current PIP: Available Upon Request Utility Providers: Available Upon Request Telephone: Internet: Gas Service: Water & Sewer: Electricity: Hotel Laundry: Two Washers and Two Dryers Hot Water: Two - Gas fired Water Heaters

16 Contact Seller s Exclusive Broker: Hajari Realty, Inc. HAJARI REALTY, INC. Mehul Hajari Ph: (504) Mo: (504) Licensed by the Louisiana Real Estate Commission