Turn-Key Acquisition Opportunity. The four-story hotel opened for business in August 2016 and was constructed with a custom Formula Blue design scheme. Current ownership received a 20-year franchise license agreement in January 2017 and it is expected that an investor will be able to secure the remaining term on the agreement with minimal PIP.
Strategic Location in Northwest Houston. The property is strategically located just off Highway 290 on Huffmeister Road, near several large power retail centers and restaurants, making it an ideal choice for guests. For the corporate traveler, the hotel is located in close proximity to the following companies: North Cypress Medical Center (half a mile), McKesson (one mile), Wyman-Gordon (two miles), Flowserve Corp. (two miles), SPX Flow (three miles), Siemens Energy Inc. (three miles), Emerson (three miles) Weatherford International Inc. (five miles) and NCI Building Systems, Inc. (six miles).
Recovering Houston Market. Historically, the “Northwest Houston” submarket has been the one of the strongest markets in Houston for RevPAR growth, driven primarily by corporate demand in the energy industry. With crude prices rising, West Texas Intermediate at $62 as of February 2018, and drilling activity increasing, the energy industry is poised for a recovery in 2018; which will drive corporate room demand in the Houston market.
Increasing Operating Performance. Based on the December 2017 monthly STR report, the property is operating at a 95.3% RevPAR penetration index and ranks 5 of 7, for year-end 2017. Being the nicest and newest hotel compared to the competitive set, the hotel should be significantly outperforming, showing that there is continued room to grow the room revenues.
Comfort Inn & Suites Alvarado - Dallas/Fort Worth Metro
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Michael Yu and Yu Hospitality Real Estate Advisors, Inc. are licensed real estate brokers in the state of Texas. Rahul Bijlani, Eric Guerrero, Tyler Bean, Andrew Frosch, Dennis Drake, Agrama Mannapperuma and Pravin Boteju are licensed salespersons in the state of Texas and affiliated with and sponsored by CBRE Group Inc.