CBRE Hotels is soliciting offers to acquire the fee-simple interest in the La Quinta Inns & Suites Houston Spring South. Located along Interstate 45 and nestled among City Place, The Woodlands, Pinto Business Park, George Bush Intercontinental Airport, and several corporate offices, the 93-room hotel receives business from a diverse population of both corporate and leisure segments.
Investment Highlights
- Brand-New La Quinta Inns & Suites – Opportunity to acquire a 93-room, four-story, interior corridor, La Quinta Inns & Suites that is located along the Interstate 45, highly visible from the expressway. Opened in 2019 and well-maintained, the hotel is currently in excellent condition with minimal capital improvements anticipated for a new ownership.
- Convenient Location – The La Quinta Inns & Suites is in proximity to many major area hotel demand generators, including City Place (formerly known as Springwoods Village), The Woodlands, Six Flags Hurricane Harbor Splashtown, Old Town Spring, and the Cynthia Woods Mitchell Pavilion. Additionally, the hotel is close to the George Bush Intercontinental Airport, one of the largest passenger hubs for United Airlines and is the second busiest airport in Texas.
- Management Upside – The hotel will be delivered unencumbered of management. Because of the current operator’s national scale and significant corporate overhead allocation, this project presents significant potential for a more hands-on operator to improve the hotel’s overall performance through more proactive revenue management and improvement in housekeeping labor utilization.
- Strong Revenue Trend – The hotel has been showing an increasing revenue trend. The room revenue as of August 2023 YTD has already exceeded the same period in 2022 by 22%.
- 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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