Marriott SpringHill Suites I-10 West Energy Corridor

    Location. The Property is near the intersection of Interstate 10 and Highway 6, near several office parks and restaurants, making it an ideal choice for guests. Additionally, the Property is within a five-minute drive of Typoon Texas waterpark, Katy Mills Mall and several oil/gas office complexes that make up the area known as the Houston Energy Corridor. Below Replacement Cost. Based on pricing guidance, the Hotel can be acquired below replacement cost. This offering presents an excellent opportunity to purchase a Marriott branded hotel for less than the cost of construction, giving an investor an attractive basis which will help re-position the SpringHill as the market recovers. Underperforming Asset. Since opening in January 2015, the SpringHill has struggled to capture market share, finishing 2016 with the following statistics: 29.7% occupancy, $96.52 ADR and $28.67 RevPAR. Whereas, the competitive set finished 2016 with the following statistics: 46.8% occupancy, $106.97 ADR and $50.38 RevPAR, leading to a 57.8% penetration index and 6 of 8 rank. Looking at June 2017 STR report, the Hotel has increased the RevPAR to $39.25 compared to the competitive set at $53.42, which is showing signs of improvement at a 73.5% penetration index. Houston Energy Corridor. Historically, the Houston Energy Corridor has been the premier market in Houston for RevPAR growth, driven primarily by corporate demand in the oil/gas industry. Looking at the “Katy Freeway West” submarket, which encompasses the Houston Energy Corridor, the upper-priced hotels had the following statistics in 2014: 73.0% occupancy, $151.78 ADR and $110.79 RevPAR. In 2016, this same tract finished with the following statistics: 61.0% occupancy, $131.53 ADR and $80.27 RevPAR, which represents a 27.5% decline in RevPAR compared to 2014. The decline is due to the tightened travel budgets from the local oil/gas companies as oil prices remained unstable. However, with oil prices showing signs of stabilization in Q2 2017, oil/gas executives are confident that the future is bright.

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Best Western Inn of Navasota

 

  • The Best Western Navasota is located on Hwy 6, 22 miles south of College Station & one hour North of the Houston MSA, in Navasota Texas.
  • The Hotel has a 2-bedroom/ 2-bathroom owner’s apartment onsite with a full kitchen and an extra half bathroom.
  • The Hotel’s current TTM July 2017 NOI is $464,462 with a cash-on-cash of $268,261.
  • The Hotel is available for automatic transfer from Best Western. The Hotel has an estimated $150K in remaining design review repair items (ask broker for details).

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La Quinta Inn & Suites

  • Below Replacement Cost. Unique opportunity to acquire an underperforming La Quinta Inn & Suites hotel in the booming Dallas/Fort Worth Metroplex below replacement cost.
  • Absentee Owned. The property is currently absentee-owned, presenting an opportunity for a new owner to improve current operations at the hotel.
  • Revenue Trend.  The property has displayed steady growth over the past year as the April 2017 Monthly STR Report shows approximately 7% RevPAR growth compared to the same period last year.
  • Location. The hotel is located along Interstate Highway 35, one of the busiest interstates in the United States. Burleson, Texas is just 20 minutes south of Downtown Fort Worth. The hotel is located near the following demand drivers: • Downtown Fort Worth (14 miles) •    Texas Health Huguley Hospital Fort Worth South  (1.5 miles) •    Texas Christian University (12 miles) •    Dallas Cowboys AT&T Stadium (25 miles) •    DFW International Airport (35 miles)

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Marriott Delta Conversion Opportunity

  • 111-room, four story Holiday Inn built in 2010
  • Marriott Delta Flag Available on completion of a PIP (contact broker for more details)
  • Substantially underperforming with trailing 12 month RevPAR at $51 compared to approximately $94 for the nearest Marriott Courtyard, which is less than 1 mile away
  • Operated using third party management
  • Minutes from Downtown, Fiesta Texas, San Antonio International Airport and South Texas Medical Center

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Quality Inn Conversion DFW

  • High Barrier-to-Entry. Unique opportunity to acquire a stabilized Choice hotel in the highly desired Irving submarket, a principal city located in the heart of the Dallas-Fort Worth Metroplex. The strength of the market is its high-to-barrier to entry location. Through multiple city ordinances, the city has placed several restrictions on new hotel construction - particularly in the limited-service segment.
  • Consistent Room Revenue Trend. The property has displayed consistent revenue growth during the last three years with an average revenue increase of approximately 7% per year. This consistency can be attributed to its prime location just three miles from DFW International Airport.
  • Powerful Economic Base. A diverse economic base with over 8,500 local and multinational companies, Irving boasts one of the strongest economies in the entire State of Texas. 50 Fortune 500 Companies are located in the city - five of which are headquartered in Irving (ExxonMobil, Celanese, Commercial Metals, Fluor and Kimberly-Clark).

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YB Intel

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

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