AMERICAN CANYON — The Fairfield Inn & Suites in American Canyon is up for sale. The 3-story, 80-room economy brand hotel franchised by Marriott International has an asking price of $10 million, according to a listing by LoopNet.com, an online commercial real estate site.
Built in 2004, the hotel underwent renovation last year, according to the listing. The site states the net operating income is $500,000.
All three hotels in American Canyon reported a 95 percent occupancy rate at the September meeting of the city’s tourism improvement district committee.
The hotel has been on the market for about six weeks, according to Mark McDermott, senior vice president of CBRE Hotels, the real estate agent.
“The property has generated solid interest among potential hotel investors, primarily due to its location, physical condition and Marriott brand affiliation,” McDermott wrote in an email.
“The hotel will continue to be branded as a Fairfield Inn & Suites,” McDermott wrote, “and in fact was recently renovated in 2011 to the current brand standards. For current employees and the traveling public, the change in ownership will largely be unnoticed, except for future guest service improvements that a new owner might implement.”