CBRE Hotels is soliciting offers to acquire the fee-simple interest in the Holiday Inn Express & Suites in West Houston Katy, Texas. Located off Interstate Highway 10 and just minutes away from Katy Mills Mall and Houston Energy Corridor, the 97-room hotel receives business from a diverse population of both corporate and leisure segments.
- Holiday Inn Express & Suites/Katy, TX – Opportunity to acquire a 97-room, four-story, interior corridor, Holiday Inn Express & Suites that sits on 2.32 acres of land in Katy, Texas. Katy is one of the fastest growing suburbs in the Houston MSA, thanks to its prime location, excellent school district and award-winning residential neighborhoods.
- Seller Financing – Seller financing with $3.0M down payment and 7.00% interest rate is included in this offering. The term details are provided on the data room. Please ask brokers for more information.
- Rapidly Increasing Revenue – The Holiday Inn Express & Suites has shown an upward revenue trend with room revenue and RevPAR in the first six months of 2023 exceeding the same period in 2022 by 87%. The hotel continues to exhibit strong performance in July.
- Minimal PIP/Significant Upside – The hotel was under extensive renovation for the Formula Blue PIP during the last two years. The majority of the renovations were completed early this year, resulting in significant increase in the hotel’s room revenues. This offering represents an extraordinary opportunity for a new ownership to acquire an asset with minimal capital improvements anticipated and identifiable revenue and significant value enhancement upside.
- Diverse Demand Drivers – The hotel’s location in Katy offers strategic proximity to various major demand generators such as oil, gas, and energy companies, medical centers, parks, restaurants, retail, and entertainment areas. Specifically, the property is less than 3 miles from Katy Asian Town, 5 miles from Typhoon Texas Waterpark and Katy Mills Mall, and just over 7 miles from the Houston Energy Corridor.
- 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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