Best Western near Houston

  • The Best Western Inn & Suites is located on US-59/I-69 in Livingston TX, Located 73 miles from Downtown Houston, just outside the Houston, TX MSA.
  • Opportunity to purchase an interior corridor, three-story, Best Western that was built in 2008.
  • The hotel is currently priced below replacement cost at $56,667 per room.
  • The hotel has a 3-bedroom/4-bathroom owner's apartment on site, making this ideal for an owner operator.
  • The hotel is located along Interstate 69 (I-69) the interstate is also known as the NAFTA "Superhighway" because it the trade route used to travel between Mexico, the United States, and Canada.

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Sleep Inn & Suites

  • Opportunity to purchase a 82 room four story interior corridor property, built in 2013, and located about 5 miles from downtown Austin.
  • The property is absentee owned and operated by third party management, which creates an opportunity for a new buyer to take over and lower expenses to raise NOI.
  • The lot contains space for 40-45 additional rooms at the rear of the property. According to Choice Hotels, these may be branded Sleep Inn or Mainstay Suites. The additional rooms can be added at a very low cost because no additional public areas are required. (contact broker for more info).
  • There is approximately a half acre of vacant land with 290 frontage that will be included with the purchase. This lot would be ideal for retail development.
  • Among cities with populations over 1 million, Austin is the fastest growing in the United States.

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Wingate by Wyndham

  • This is a rare opportunity to acquire an eighty room, interior corridor, franchised hotel for well below replacement cost at $37,500 per key.
  • The hotel is currently absentee owned and managed by a third party management company.
  • The hotel is priced at a 2.34 room revenue multiplier based on the September 2016 trailing twelve months’ room revenue of $1,283,667.
  • Based on the September 2016 T12 P&L the hotel achieved a net operating income of $386,178.
  • Recently announced earlier this year – Lowndes County will soon be home to its third Tennessee Valley Authority Certified Megasite. The 1,144-acre site will be the Golden Triangle’s fourth major investment since 2005. Please see the VDR for more information about the new megasite.

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Holiday Inn Downtown

  • Unmatched Location. The Holiday Inn’s superior location in the Houston CBD and Midtown allows the hotel’s guests easy access to Texas Medical Center, NRG Stadium and the George R. Brown Convention Center as well as offices of Exxon Mobil, Chevron, Deloitte, Accenture, Baker Hughes, Pricewaterhouse Coopers, KBR (a Fortune 500 engineering firm), JP Morgan Chase, Oracle and AIG to name just a few.
  • Fully Renovated. The hotel was originally opened as the iconic Savoy Hotel but sat empty for the last two decades. The hotel was purchased in 2013 for a multi-million dollar complete renovation. With its recent opening in January 2016, the property debuted a modern look that will draw corporate guests, as well as amenities that will draw families. Additionally, the restaurant’s current design and operations allow it to be profitable; it is currently on track to achieve $1 million in revenue this year.
  • Value-Add Opportunity. The offering includes the fee-simple interest in the three separate parcels: the hotel, the five-story parking garage, and 7,205 sq. ft. of developable land. It is expected that a future owner could either hold the land while the garage and hotel provide cash flow or take the opportunity to build towers on both the garage and the land to the highest and best use. As the price of oil recovers, further developments on the lots will only create additional demand for the parking garage, restaurant and hotel.
  • Underperforming Asset. Opened in January 2016, the hotel is slowly ramping up - significantly underperforming the comp. set with a 40% RevPAR penetration index on 2016 year-to-date numbers from the September 2016 monthly STR report. The hotel is operating at a $43 RevPAR, while the comp. set is operating at a $109 average RevPAR. This offering presents an excellent opportunity for an astute full-service hotel operator to turn-around operations and increase cash flow.
  • Strong Cash Flow Projections. The hotel is projected to finish year two at 63.8% occupancy and an ADR of $155.87, and flow through to a Net Operating Income (NOI) of $3.2 million. As the Holiday Inn finishes ramping up and securing corporate negotiated rates, it is expected to stabilize at 66.5% occupancy in year three, with an ADR growth to $158.99 and finishing with a $3.5-million NOI.

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La Quinta Inn & Suites

  • Strong In-Place Cash-Flow. The hotel has a strong cash-flow, currently performing at $567,746 net operating income based on the September 2016 trailing twelve months. Additionally, the hotel has an average net operating income of $641,149 over the last three years, showing that it is a stabilized asset.
  • Recently Renovated. Current ownership completed an extensive PIP over the past year in excess of $280,000 with upgrades to the exterior, common areas/corridors and guestroom bedding.
  • Resilient Submarket. Bay City has a growing industrial base and strong agriculture base of business, keeping the market resilient despite the downturn in oil prices. The major industrial plants in the area bring in hundreds of contract employees during planned outages, shutdowns or expansions; which fuels hotel room demand.
  • Robust Returns. The hotel is attractively priced at 3.64 RRM and 11.35% CAP rate based on September 2016 trailing twelve months financials. Assuming a 75% LTV SBA 7(a), the hotel currently generates a $298,085 cash-flow after debt service, which is a 24% return on investment.
  • Long-term Franchise License Agreement. There are twelve years remaining on the existing franchise license agreement and based on feedback from La Quinta, the buyer can apply for a twenty year franchise license agreement and the transfer fee is a modest $2,500.

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Data for Decisions: Texas Hotel Revenues and REVPAR Statistics – Visualize Trends by Hotel, City, Zip Code and Franchise.

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