Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors the Baymont Inn & Suites Midland Center (‘Hotel’ or ‘Property’). The Wyndham-branded Hotel is offered at $5,550,000 or $73,026 per key. Baymont Inn & Suites Midland Center is a 76-room, midscale Hotel built in 2016 and located in Midland, Texas. The Property is directly off Interstate 20, one of the most trafficked thoroughfares in the city. Common area amenities include a hot breakfast bar and dining area, guest laundry facilities, business center, and fitness center. Ample large vehicle parking is available for trucks and RVs traveling through west Texas. Midland was founded as the midway point between Fort Worth and El Paso along the Texas and Pacific Railroad in 1881. Midland serves as the principal city of the Midland Metropolitan Statistical Area (MSA) and the larger Midland-Odessa Combined Statistical area. In 2020, Midland ranked first in GDP growth and was the 17th fastest-growing city in the United States according to the Kinder Institute for Urban Research. The Midland International Air and Space Port, situated 10 miles away, is the only major airport in the region and ranked eighth in Texas for commercial service. The Permian Basin Oil Field supports the region’s economy and houses the most lucrative oil field in the United States — the Mid-Continental Oil Field. In Texas alone, the Mid-Continental Oil Field has approximately an estimated 190 billion barrels of oil. According to the Federal Reserve Bank of Dallas, not only does the greater Permian Basin accounts for 40 percent of all oil production in the United States, but also 15 percent of its natural gas production. Midland is the corporate headquarters for over 20 energy firms that primarily focus on the Permian Basin. Energy firms such as Anthem Oil & Gas, Anadarko, Apache, Baker Hughes, Chevron, Conoco Phillips, Occidental Petroleum, Diamondback Energy, and Halliburton Energy are all located less than 10 miles from the Property. Additionally, Nacero Inc. announced an $8 billion gas to gasoline facility in Penwell, Texas (30 miles west of Midland). This new development is expected to bring 3,500 construction jobs during development, four million drivers daily once opened, and an estimated $25 billion boost to the region’s economy. In 2023, the Hotel recorded room revenues of over $1,670,000. Twelve-month RevPAR in the Midland & Odessa hotel submarket was up sharply as of December and climbed at a 20.5 percent year-over-year rate. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR.