La Quinta Inn & Suites by Wyndham Houston Northwest Brookhollow in Houston, TX Listed for Sale

  • La Quinta Inn & Suites by Wyndham Houston Northwest Brookhollow   

HVS Brokerage & Advisory, as the only and unique advisory agency to possession, presents the chance to accumulate the 102-key La Quinta Inn & Suites by Wyndham Houston Northwest Brookhollow, a just lately renovated limited-service resort asset in Houston, Texas, with a minimal change-of-ownership PIP anticipated. The resort’s efficiency has notably improved, and nice upside exists for a extra “arms on” proprietor/operator to extend profitability margins.

Very best Alternative for an Skilled Proprietor/Operator

  • Per the 2023 year-end profit-and-loss (P&L) assertion, the resort’s gross working revenue (GOP) was 35.9%, with a web working earnings (NOI) flow-through of $342,000 (rounded).

  • Nice upside exists for a extra “arms on” operator to restructure the resort’s operations to maximise NOI flow-through.

  • Primarily based on a number of related resort property’ working statements, the resort ought to obtain a stabilized GOP margin above 42.0%.

Rising Income Development Put up Renovation

  • In 2023, the resort achieved rooms income of $1,500,000 (rounded), a 15.6% improve in comparison with 2022.

  • Per the March 2024 STR knowledge, the resort’s efficiency has improved, registering a 7.5% RevPAR improve during the last twelve months.

  • Primarily based upon the HVS pro-forma projections, stabilized rooms income in 2025 is anticipated to exceed $1,650,000 ($44 RevPAR), with an NOI flow-through of $520,000 (rounded).

Lately Renovated at a Low cost to Alternative Price

  • Present possession just lately accomplished an in depth renovation of the property, together with the general public areas and guestrooms, at a price of $1.65 million, or $16,200 per key (rounded).

  • A minimal change-of-ownership PIP can be anticipated for brand new possession.

  • The vendor has ordered the change-of-ownership PIP, which shall be uploaded to the digital deal room (VDR) upon receipt.

  • This chance presents an investor with the flexibility to accumulate the property at a worth nicely under alternative value at $59,000 (rounded) per key.

La Quinta Inn & Suites by Wyndham Franchise

  • Upon approval from the franchise, an investor can anticipate a brand new, long-term license settlement with Wyndham Motels & Resorts.

  • La Quinta by Wyndham is a well-established, limited-service, upper-midscale resort model that appeals to each enterprise and leisure vacationers. The model’s RevPAR index averages over 100.0% nationally, and franchisees profit from the 100 million Wyndham Rewards members to assist drive visitor stays.

Glorious Location Alongside U.S. Freeway 290 Amongst Sturdy Demand Mills

  • The property advantages from its strategic location close to the U.S. Freeway 290 and Interstate 610 interchange.

  • Company demand drivers close by embody ADP, TAM Worldwide, Geospace Applied sciences, Memorial Hermann Higher Heights Hospital, Reynolds and Reynolds, Baker Hughes, Caterpillar, and United Plastics Group, in addition to the Clay Campbell Enterprise Park.

  • The native submarket has been pushed by vital residential and industrial growth. The Timbergrove neighborhood advantages from overflow demand stemming from the Higher Heights neighborhood.

  • Final December, a number of company tenants secured new, long-term lease agreements totaling over 90,000 sq. toes of workplace house within the Brookhollow Central workplace complicated. CHRISTUS Well being, Bowen Miclette & Britt Insurance coverage Company, and McGrath & Co. are a couple of of the tenants.

  • Notable leisure demand turbines close by embody The Galleria (purchasing vacation spot), the 1,500-acre Memorial Park (urban-center park), Mahatma Gandhi District, Waterwall Park, River Oaks District, Highland Village Procuring Middle, and Uptown Park.

Rising Houston Market

  • The Texas economic system continues to develop, with almost 370,000 jobs created in 2023, in accordance with the Texas Workforce Fee, outpacing the nationwide progress charge by a full share level.

  • When it comes to inhabitants, Houston is at present the fourth-largest metropolis within the nation.

  • In keeping with the Higher Houston Partnership, financial progress in 2024 is anticipated to be led by the development, vitality, authorities, medical and healthcare, {and professional} service sectors.

  • Various financial progress in healthcare, know-how, and aerospace, together with main occasions held in Houston, have considerably contributed to Houston’s resort resurgence. Moreover, Houston’s decrease room charges, in contrast with these of another Texas cities, make it engaging for group bookings.

For inquiries please go to right here to execute the Confidentiality Settlement.

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