2900 Gulf Fwy, Texas City, TX 77591
86 Room Hotel | Texas City, TX 77591 | For Sale
For Sale
Active
- Property Type
-
Hospitality
- Square Feet
- 51,445 SF
Listing Contacts
- Property Info
Property Overview
For more information, please visit the HVS marketing website to electronically execute the confidentiality agreement and get access to the virtual deal room: https://brokerage.hvs.com/listing/?id=142098
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 86-key La Quinta Inn & Suites by Wyndham Texas City I-45, a limited-service hotel asset in Texas City, Texas. A more “hands-on” investor will have the ability to realize the significant upside of acquiring a recently built asset with operational upside at a price well below replacement cost. The property benefits from its strategic location along Interstate 45, proximate to a diverse mix of corporate and leisure demand generators including the Port of Texas City, Marathon Petroleum, Valero, Texas City Dike, Lagoonfest Texas – Beach Club & Aqua Adventure Park, Tanger Outlets Houston, Chester L. David Sportsplex, Port of Galveston Cruise Terminal, Moody Gardens, Schlitterbahn Water Park & Resort, and the Galveston Island Convention Center.
HVS Brokerage & Advisory, as the sole and exclusive advisory firm to ownership, is pleased to present the opportunity to acquire the 86-key La Quinta Inn & Suites by Wyndham Texas City I-45, a limited-service hotel asset in Texas City, Texas. A more “hands-on” investor will have the ability to realize the significant upside of acquiring a recently built asset with operational upside at a price well below replacement cost. The property benefits from its strategic location along Interstate 45, proximate to a diverse mix of corporate and leisure demand generators including the Port of Texas City, Marathon Petroleum, Valero, Texas City Dike, Lagoonfest Texas – Beach Club & Aqua Adventure Park, Tanger Outlets Houston, Chester L. David Sportsplex, Port of Galveston Cruise Terminal, Moody Gardens, Schlitterbahn Water Park & Resort, and the Galveston Island Convention Center.
Property Details
- Class
- B
- Year Built
- 2018
- Stories
- 4
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 86,684 SF
- Units
- 86
Highlights
- Value-add opportunity to acquire a recently built asset with operational upside below replacement cost
- Built in 2020, minimal change-of-ownership PIP expected
- Room revenues are up 11.6% through Oct 2023 YTD
- Property has excellent visibility off the I-45 frontage road near Galveston Island and is located within the expanding Texas City market
- The Port of Galveston is the fourth most popular cruise port in the US with 362 sailings and more than 1.3 million cruise passengers this year
- A financing package with an attractive below-market, fixed interest rate and a five-year term is available.
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