Houston Business Journal
Cara Smith, Reporter

A hotel in the Texas Medical Center, one of the city’s most bustling corridors of activity, traded hands this week.

Houston-based HH&S Hospitality LLC purchased the Candlewood Suites Medical Center from Pika Hotel Group, a Webster-area hotel group, a CBRE spokesperson told the Houston Business Journal. Sheikh Ahmed, president of HH&S Hospitality, said the company is planning an extensive renovation of the hotel’s common areas and guest rooms.

“The Candlewood Suites brand fits perfectly in this area because there is good demand from long-term customers who are receiving treatment in the (Texas Medical Center),” Ahmed said in a statement.

The purchase price wasn’t disclosed.

CBRE Hotels’ Rahul Bijlani, Michael Yu, Eric Guerrero and Agrama Mannapperuma represented both the buyer and the seller.

The Candlewood Suites Medical Center, located at 10025 South Main, is the fifth hotel that CBRE Hotels has closed on in Houston this year. Four of the five hotels are within The U.K.-based Intercontinental Hotels Group PLC brand, the spokesperson said.

The Texas Medical Center has been buzzing with hospitality activity. Just a few weeks ago, St. Louis-based Midas Hospitality bought a Staybridge Suites near NRG Stadium and the Texas Medical Center from a Beaumont-based hotels group.

“The Texas Medical Center is the most sought after submarket to acquire hotels in Houston,” CBRE’s Guerrero, who also worked on the Staybridge Suites deal, said in a statement at the time.

Meanwhile, Houston-based Medistar Corp. and TRC Capital Partners are developing a 22-story, 353-room Intercontinental Houston Medical Center at 6750 Main St. The project will share a lobby with a Greystar apartment development dubbed Latitude Med Center. The project is expected to top out on July 19.

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