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Hotel-Motel

Springhill Suites Houston I-10 West / Energy Corridor

1350 Broadfield Blvd, Houston, TX 77084

Listing Price: Request For Offer

Number of Rooms
112
RevPAR
$20
Gross SF
108,900
Year Built
2016

Investment Overview

Building Attributes: The SpringHill Suites by Marriott Houston I-10 West / Energy Corridor is a 112-room, upscale, select-service, Marriott International-branded Hotel built in 2016. The Hotel offers several attractive amenities, including a full bar, two meeting rooms 1,410 sq ft of total meeting space, a fitness center, and an outdoor pool.

Significant Upside Potential: Currently, the subject property is underperforming its STR-defined competitive set and achieved an average revenue of $1.725M in revenue in 2018 & 2019. (Ranked 5 of 8 in 2019 with a RevPar $41.82; Ranked 6 of 8 in 2018 with a RevPar $42.50 ). A new investor should experience significant upside through effective asset management skills, notably the operating skills and the low cost of capital strategies, that will enhance returns as increases in Net Operating Income are fully captured.

The Greater Houston Energy Corridor Business District: The Property is well-positioned in the heart of Houstons Energy Corridor, located on the west side of the Houston Woodlands Sugarland metropolitan area. Solid leasing activity has continued apace in the Energy Corridor even after the introduction of the coronavirus pandemic and the collapse in oil prices. Companies such as Enventure Global Technology, an energy services provider, recently leased 18,069 square feet of office space 0.1 miles away.

Corporate and Leisure Demand Generators: The Hotel is in the Houstons Energy Corridor with many demand generators within 5 miles such as NACE International (0.1 Miles), Wood Group (1.5 Miles), Subsea7 (1.5 miles), Texas Children Hospital (2.2 miles), Exxon (2.4 miles), Shell (3.4 miles), GTC Technology (3.3 miles), ConocoPhillips (3.0 miles), Transocean offshore (4.0 miles), and Citgo Petroleum Corporation Headquarters (4.1 miles). Leisure demand generators include Topgolf, CityCentre Plaza (a 37-acre luxury mixed-use center), Town & Country Shopping Center, Memorial City Mall, and Bear Creek Pioneers Park.

Unencumbered Offering: The Hotel is offered fee simple, unencumbered by management contract or debt presenting an operational opportunity for a new investor.

Investment Highlights

  • The SpringHill Suites is a 112-room, upscale, select-service, hotel
  • Hotel averaged $1.79 million of total revenues in 2018 and 2019
  • Marriott International-branded Hotel built in 2016

Exclusively Listed By

Hotel-Motel

Springhill Suites Houston I-10 West / Energy Corridor

Listing Price: Request For Offer

Number of Rooms
112
RevPAR
$20
Gross SF
108,900
Year Built
2016

Investment Highlights

  • The SpringHill Suites is a 112-room, upscale, select-service, hotel
  • Hotel averaged $1.79 million of total revenues in 2018 and 2019
  • Marriott International-branded Hotel built in 2016

Investment Overview

Building Attributes: The SpringHill Suites by Marriott Houston I-10 West / Energy Corridor is a 112-room, upscale, select-service, Marriott International-branded Hotel built in 2016. The Hotel offers several attractive amenities, including a full bar, two meeting rooms 1,410 sq ft of total meeting space, a fitness center, and an outdoor pool.

Significant Upside Potential: Currently, the subject property is underperforming its STR-defined competitive set and achieved an average revenue of $1.725M in revenue in 2018 & 2019. (Ranked 5 of 8 in 2019 with a RevPar $41.82; Ranked 6 of 8 in 2018 with a RevPar $42.50 ). A new investor should experience significant upside through effective asset management skills, notably the operating skills and the low cost of capital strategies, that will enhance returns as increases in Net Operating Income are fully captured.

The Greater Houston Energy Corridor Business District: The Property is well-positioned in the heart of Houstons Energy Corridor, located on the west side of the Houston Woodlands Sugarland metropolitan area. Solid leasing activity has continued apace in the Energy Corridor even after the introduction of the coronavirus pandemic and the collapse in oil prices. Companies such as Enventure Global Technology, an energy services provider, recently leased 18,069 square feet of office space 0.1 miles away.

Corporate and Leisure Demand Generators: The Hotel is in the Houstons Energy Corridor with many demand generators within 5 miles such as NACE International (0.1 Miles), Wood Group (1.5 Miles), Subsea7 (1.5 miles), Texas Children Hospital (2.2 miles), Exxon (2.4 miles), Shell (3.4 miles), GTC Technology (3.3 miles), ConocoPhillips (3.0 miles), Transocean offshore (4.0 miles), and Citgo Petroleum Corporation Headquarters (4.1 miles). Leisure demand generators include Topgolf, CityCentre Plaza (a 37-acre luxury mixed-use center), Town & Country Shopping Center, Memorial City Mall, and Bear Creek Pioneers Park.

Unencumbered Offering: The Hotel is offered fee simple, unencumbered by management contract or debt presenting an operational opportunity for a new investor.

Exclusively Listed By

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