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Hotel-Motel

DoubleTree by Hilton Hotel Midland Plaza

117 W Wall St, Midland, TX 79701

Listing Price: Request For Offer

Number of Rooms
262
RevPAR
$75
Year Built
1973

Investment Overview

The DoubleTree by Hilton Midland Plaza is an upscale hotel featuring 262 spacious guest rooms and several amenities. With the current term expiring soon, the Hotel is offered with a new 15-year license expected with the completion of a PIP. This ensures that guests can relax in contemporary rooms with ergonomic workstations, and mini refrigerators for comfort and convenience. Common area amenities include an on-site restaurant, fitness center, pool, outdoor patio, Bar and Lounge, and nearly 10,000 square feet of event space that is capable of hosting large events and business meetings.

Located in Downtown Midland, the DoubleTree by Hilton Midland Plaza provides an ideal setting for weekend getaways, business meetings, and extended stays. The hotel enjoys a convenient proximity to several museums such as Bush Family Home State Historic Site, Museum of the Southwest, and Permian Basin Petroleum Museum. Additional key attractions include: Susie’s South Forty Candy Factory, Blakemore Planetarium at the Museum of the Southwest, Bush Family Home State Historic Site, Haley Memorial Library & History Center, Midland Memorial Hospital & Medical Center, Permian Basin Petroleum Museum & Chaparral Race Car Gallery, Sibley Nature Center, Sibley Nature Center, the I-20 Wildlife Preserve & Jenna Welch Nature Study Center, and the Midland International Air & Space Port.

Located just 10.8 miles from the Property, Midland International Air & Space Port reported a record year in 2023 with nearly 700,000 passengers departing from the airport, nearly a 10 percent increase over 2022.

As of December, the twelve-month RevPAR in the Midland & Odessa hotel submarket experienced a significant increase, rising by 20.5% compared to the previous year. This surge surpasses the already notable 8.2% growth observed in the broader Texas West market. An investor will be well positioned to receive increasing cash flow and a rising NOI flow-through during their hold period.

In the trailing twelve months of October 2023, the property achieved a RevPAR penetration index of 108 percent. Not only will a potential buyer be able to enjoy increasing cash flow, but they will also be outperforming the market on day one of their investment.

The Property greatly benefits from its affiliation with Hilton, one of the strongest brands in the lodging industry that boasts a powerful reservation system and strong brand loyalty largely created by the popular Hilton Honors program, which now has more than 173 million members.

This offering provides an investor the ability to acquire the Property unencumbered by management or existing debt, presenting an exceptional operational opportunity for robust revenue growth through strategic implementation of aggressive yield management strategies. The Property may benefit from increased NOI flow-through and more aggressive revenue management, especially after significant capital improvements are completed.

Investment Highlights

  • High-Quality Asset in Exceptional Condition
  • Prime Location with Easy Access to Market Demand Generators
  • Strategic Airport Locations
  • Soaring Submarket RevPAR Growth
  • High RevPAR Penetration
  • Premier Hilton Brand
  • Unencumbered Offering

Exclusively Listed By

Financing By

Hotel-Motel

DoubleTree by Hilton Hotel Midland Plaza

Listing Price: Request For Offer

Number of Rooms
262
RevPAR
$75
Year Built
1973

Investment Highlights

  • High-Quality Asset in Exceptional Condition
  • Prime Location with Easy Access to Market Demand Generators
  • Strategic Airport Locations
  • Soaring Submarket RevPAR Growth
  • High RevPAR Penetration
  • Premier Hilton Brand
  • Unencumbered Offering

Investment Overview

The DoubleTree by Hilton Midland Plaza is an upscale hotel featuring 262 spacious guest rooms and several amenities. With the current term expiring soon, the Hotel is offered with a new 15-year license expected with the completion of a PIP. This ensures that guests can relax in contemporary rooms with ergonomic workstations, and mini refrigerators for comfort and convenience. Common area amenities include an on-site restaurant, fitness center, pool, outdoor patio, Bar and Lounge, and nearly 10,000 square feet of event space that is capable of hosting large events and business meetings. Located in Downtown Midland, the DoubleTree by Hilton Midland Plaza provides an ideal setting for weekend getaways, business meetings, and extended stays. The hotel enjoys a convenient proximity to several museums such as Bush Family Home State Historic Site, Museum of the Southwest, and Permian Basin Petroleum Museum. Additional key attractions include: Susie’s South Forty Candy Factory, Blakemore Planetarium at the Museum of the Southwest, Bush Family Home State Historic Site, Haley Memorial Library & History Center, Midland Memorial Hospital & Medical Center, Permian Basin Petroleum Museum & Chaparral Race Car Gallery, Sibley Nature Center, Sibley Nature Center, the I-20 Wildlife Preserve & Jenna Welch Nature Study Center, and the Midland International Air & Space Port. Located just 10.8 miles from the Property, Midland International Air & Space Port reported a record year in 2023 with nearly 700,000 passengers departing from the airport, nearly a 10 percent increase over 2022. As of December, the twelve-month RevPAR in the Midland & Odessa hotel submarket experienced a significant increase, rising by 20.5% compared to the previous year. This surge surpasses the already notable 8.2% growth observed in the broader Texas West market. An investor will be well positioned to receive increasing cash flow and a rising NOI flow-through during their hold period. In the trailing twelve months of October 2023, the property achieved a RevPAR penetration index of 108 percent. Not only will a potential buyer be able to enjoy increasing cash flow, but they will also be outperforming the market on day one of their investment. The Property greatly benefits from its affiliation with Hilton, one of the strongest brands in the lodging industry that boasts a powerful reservation system and strong brand loyalty largely created by the popular Hilton Honors program, which now has more than 173 million members. This offering provides an investor the ability to acquire the Property unencumbered by management or existing debt, presenting an exceptional operational opportunity for robust revenue growth through strategic implementation of aggressive yield management strategies. The Property may benefit from increased NOI flow-through and more aggressive revenue management, especially after significant capital improvements are completed.

Exclusively Listed By

Financing By

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