La Quinta Inn & Suites Corpus Christi

HVS Brokerage & Advisory, as the only real and unique advisory agency to possession, current sthe alternative to amass the 60-key La Quinta Inn & Suites by Wyndham Corpus Christi-North Padre Island, a limited-service lodge asset in Corpus Christi, Texas. The property advantages considerably from its location on Padre Island proximate to the Port of Corpus Christi, which is strategically positioned close to main oil and gasoline (O&G) manufacturing areas in america.

Splendid Alternative for an Skilled Proprietor/Operator to Enhance Efficiency

• The 60-key rely is taken into account a really perfect measurement for an skilled proprietor/operator.

• After finishing the change-of-ownership PIP, new possession can have a clean slate to implement its personal revenue-management technique, with the flexibility to drive room charges larger.

Underperforming Resort Asset with Operational Upside Potential

• Regardless of being in a robust market, the lodge has underperformed significantly. Per the March 2024 STR Report, the aggressive set operated at an mixture RevPAR of $72.06, whereas the lodge solely managed to yield a RevPAR degree of $37.26. If the lodge’s RevPAR matched that of its opponents, it might earn $1,578,114 in rooms income, highlighting important upside potential.

• Per the March 2024 STR Report, the lodge ranked sixth out of six aggressive resorts by way of occupancy and RevPAR; thus, upside exists for a extra “arms on” proprietor/operator to enhance general efficiency.

• Previous to the COVID-19 pandemic, the lodge persistently maintained a powerful three-year common rooms income of $1,455,826 from 2017 to 2019.

Low cost to Substitute Value and Excessive-Barrier Location

• This chance presents an investor the flexibility to amass the property at a worth properly under substitute value at $75,000 per key.

• New lodge developments on this space are uncommon and costly, thus limiting the potential for added competitors.

Conversion Alternative

• Spark by Hilton is a premium financial system lodge model that mixes worth with consistency. It gives company a dependable and comfy stick with pleasant service, all at an accessible worth level. Moreover, Spark by Hilton employs an revolutionary conversion mannequin, making it a pretty funding alternative for lodge homeowners.

• InterContinental Resorts Group (IHG) has lately launched Garner Resorts, an revolutionary midscale model positioned as an inexpensive, amenity-rich choice for discerning vacationers. Garner Resorts guarantees an distinctive expertise for company and presents a compelling funding alternative for homeowners looking for larger returns.

Glorious Location Amongst Robust Company and Leisure Demand Turbines

• Located on scenic Padre Island, the property is simply minutes from numerous out of doors sights reminiscent of Padre Island Nationwide Seashore, Mustang Island State Park, Hurricane Alley Waterpark, and the USS Lexington. The property can be a brief distance from the Corpus Christi Museum of Science & Historical past and lots of different standard Corpus Christi sights, such because the Texas State Aquarium, Selena Museum, and Whataburger Area.

• Moreover, the lodge is a perfect choice for each enterprise and leisure vacationers, because the property is strategically positioned a couple of 30-minute drive from Corpus Christi Worldwide Airport and a 25-minute drive from Downtown Corpus Christi.

• Outstanding contributors to lodging demand embody well-respected establishments reminiscent of Del Mar School, Texas A&M College-Corpus Christi, CHRISTUS Spohn Well being System, Corpus Christi Medical Middle Medical doctors Regional, and the Naval Air Station Corpus Christi.

North Padre Island Enlargement​​​​​​​

• Floor has been damaged on Whitecap North Padre Island, a brand new, 240-acre residential group in Corpus Christi. The event, which can embody over 600 residential heaps, 5 miles of canals, a 26-acre nature protect, and numerous facilities like a city heart, lodge, and yacht membership, goals to boost financial exercise and enhance infrastructure. Designed with coastal up to date structure, the group will characteristic elevated properties with sky decks to supply higher views. The venture will reportedly be accomplished in 4 phases over seven years.

• The Metropolis of Corpus Christi, in partnership with Whitecap North Padre Island, launched the Commodores Drive Bridge Challenge in February of this yr with the purpose of setting up a brand new, five-lane bridge to facilitate boat visitors connectivity between the north and south sides of Padre Island. This initiative is anticipated to enhance water circulation and high quality within the canals, and the bridge might be designed to accommodate a 14-foot air-draft clearance for boat visitors. The $9.2-million venture started with the institution of a short lived bypass roadway alongside Commodores Drive to make sure uninterrupted visitors stream throughout building, alongside upgrades to pavement markings and utilities included within the venture scope.

• Building started on “The Lighthouse,” a brand new, 32,000-square-foot growth on North Padre Island, in April 2024 and ought to be accomplished in 18 months. This two-story, mixed-use venture by Waymaker Developments will characteristic a group heart with thoughts, physique, and spirituality companies; an occasion heart; a daycare facility; and the Actual Life Church. The bottom degree will provide retail retailers, medical care, a pickleball court docket, and a playground. The venture goals to supply important companies to residents and entice guests, decreasing the necessity to journey off the island.

Developments within the Metropolis of Corpus Christi​​​​​​​

• Texas A&M College-Corpus Christi broke floor on its new Arts and Media Constructing on Could 15, 2024. Funded partially by $45 million from the Texas Legislature, it’ll provide music, theatre, and dance packages and have state-of-the-art facilities reminiscent of a 325-seat proscenium theatre and a 200-seat recital corridor. The venture goals to boost creative expression and group engagement. The constructing’s completion in 2026 guarantees elevated program accreditation and group outreach alternatives.

• Corpus Christi FC Sharks, the town’s pre-professional soccer crew, celebrated a big milestone with the groundbreaking of a cutting-edge Multi-Sport Complicated, marking the crew’s first everlasting residence since inception. Positioned close to Previous Brownsville Street and Cliff Maus Drive, the $28.3-million advanced, a collaboration between Subsequent Sports activities Firm and the Metropolis of Corpus Christi, will embody a 5,000-seat soccer stadium, illuminated multi-purpose soccer fields, and a standard-length go-kart monitor. The venture goals to foster group unity and help for soccer, offering Corpus Christi FC and different sports activities packages with top-tier amenities. Scheduled for completion in 2025, the advanced guarantees financial development and various sporting alternatives for the town, signaling a brand new period for soccer in Corpus Christi.

• The brand new aquatic heart at Invoice Witt Park in Corpus Christi is predicted to be accomplished by late summer season, providing a spread of facilities reminiscent of a ten-lane lap pool, leisure pool, slides, play models, and spray options, alongside parking, seating areas, and shade constructions. Metropolis leaders emphasize the middle’s significance in assembly group wants, significantly within the Southside space, offering year-round amenities for lap swimming and household enjoyment. With the park already boasting soccer and baseball fields and a hike and bike path, the addition of the aquatic heart is anticipated to additional improve group engagement and delight.

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