Spark by Hilton Conversion Opportunity - Hilton Spark conversion is possible at this location.
CBRE Hotels is soliciting offers to acquire the fee-simple interest in the Quality Inn & Suites La Porte. The Bay Area has a diverse economy and benefits from expanding trade in the Port of Houston; aerospace, petrochemicals, high tech industries, and a variety of leisure events/activities.
- Lender Short Sale - The hotel is being sold below the current loan amount. Please ask brokers for more details.
- Priced Well Below Replacement Cost - This offering presents a rare opportunity to acquire a Hilton branded property significantly below replacement costs.
- Significant Upside - There is significant upside potential for a new owner to ramp up the hotel’s room revenue significantly upon the completion of the Hilton Spark conversion PIP. As of May 2023 TTM, the nearby Hampton Inn & Suite’s RevPAR is around $66 and the Home2 Suites is at $83 RevPAR.
- Corporate/Leisure Demand Mix - Located in the heart of the Bay Area, the Property benefits from a variety of demand drivers. The Hotel is in proximity to major economic hubs including the Port of Houston (Barbours Cut Terminal), Bayport Industrial District, NASA Johnson Space Center, the ExxonMobil Baytown Complex, and Ellington Airport. In addition, the Property is nearby the historical San Jacinto Monument and Sylvan Beach Park, which hosts several large annual events a year.
- 2nd Fastest Growing Metro In the U.S. - Houston is the second fastest-growing major metro area in the U.S. and the fifth most populated metro in the nation. The region’s population now stands at 7.34 million, seeing its largest population increase in the past six years.
- Houston Ranks No. 5 among U.S. metro market where people are moving - Houston made the biggest jump to rank No. 5 on a list of the top U.S. destinations where people are relocating. The city surpassed Austin, Dallas, and all other major Southwestern markets on the list.
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