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Sheraton North Houston at George Bush 15700 John F Kennedy Blvd 419 Hotel Rooms Online Auction Sale Houston, TX 77032
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Investment Highlights
- Fee simple interest in the 419-room Sheraton North Houston at George Bush Intercontinental Airport (IAH)
- Recent performance momentum supports additional upside w/ trailing 3-month RevPAR growth of 8% and 11% for the comp set and subject hotel respectively
- Property was transferred to special servicing in November 2020, followed by the appointment of a court-appointed receiver in April 2021
- Unencumbered by management and debt and offered at a substantial discount to replacement cost
- Eligible for relicensing under the Sheraton flag through a long-term franchise agreement with Marriott
- Presents a clear repositioning opportunity to close the hotel's occupancy and ADR gap post-renovation w/ RevPAR penetration at ~75% of the comp set
Executive Summary
Offered through a court-appointed receivership sale via the June 22 Ten-X auction
New ownership can unlock meaningful upside through operational normalization and more stable management following the transition from receivership
Benefits from a constrained George Bush Airport submarket pipeline, with no new full-service hotel supply approved or under construction
Strategically located along the George Bush Intercontinental Airport corridor, ~3 miles from IAH with airport shuttle service, capturing transient, airline crew, park-and-fly, group, and corporate demand
IAH is one of Houston’s strongest lodging demand drivers, serving 48+ million passengers in 2025, including a record 12.4 million international passengers, across 26 passenger airlines and 189 nonstop destinations
IAH’s new nonstop Rome service via ITA Airways expands international connectivity and add incremental business and leisure demand to the airport corridor
Benefits from continued investment at IAH, including the ~$2.6 billion Terminal B transformation, new gates, expanded passenger facilities, 155,000+ square feet of concessions, and a new flagship United Club
Near World Houston International Business Center, a 44-building, ~3.8 million-square-foot industrial/flex business park supporting durable weekday demand
Positioned within the North Houston corporate corridor, with efficient access to major corporate campuses including ExxonMobil’s 385-acre global headquarters, and Hewlett Packard Enterprise’s world headquarters
Benefits from major northeast Houston growth catalysts, including Generation Park, a 4,300-acre master-planned district where Eli Lilly is developing a $6.5 billion pharmaceutical manufacturing facility expected to create 615 permanent jobs and 4,000 construction jobs
Houston, the nation’s fifth-most populous metro with ~7.8 million residents, supports broad-based lodging demand
Houston generates durable year-round corporate travel as a leading global energy hub with 4,700+ energy-related companies
Houston’s deep corporate base, including 25 Fortune 500 headquarters in Harris County, further drives business demand
Houston's airports served 62+ million passengers in 2025, while Bush Intercontinental recorded all-time high international traffic, underscoring Houston's strong fly-in demand base
Major infrastructure investment, including the ~$2.6 billion IAH Terminal B transformation and $470 million Hobby expansion, will further strengthen the city's long-term connectivity
Houston is accelerating citywide convention demand, with 2026 definite room nights pacing almost 19% ahead of 2025 and at 118% of target, while 2027 and 2028 are tracking approximately 69% and 120% ahead year over year, respectively
The fully funded $1.4 billion GRB expansion will strengthen long-term citywide demand with a new 700,000-square-foot GRB South facility and direct Toyota Center connectivity
Continued diversification through Apple, NVIDIA, and Eli Lilly is expanding advanced manufacturing, technology, and life sciences demand
Additional demand catalysts include convention district investment, $5+ billion in Texas Medical Center expansions, and Houston’s role as a host city for seven FIFA World Cup 2026 matches
Broker of Record: Jon Nesbitt - TX License #633814-B
New ownership can unlock meaningful upside through operational normalization and more stable management following the transition from receivership
Benefits from a constrained George Bush Airport submarket pipeline, with no new full-service hotel supply approved or under construction
Strategically located along the George Bush Intercontinental Airport corridor, ~3 miles from IAH with airport shuttle service, capturing transient, airline crew, park-and-fly, group, and corporate demand
IAH is one of Houston’s strongest lodging demand drivers, serving 48+ million passengers in 2025, including a record 12.4 million international passengers, across 26 passenger airlines and 189 nonstop destinations
IAH’s new nonstop Rome service via ITA Airways expands international connectivity and add incremental business and leisure demand to the airport corridor
Benefits from continued investment at IAH, including the ~$2.6 billion Terminal B transformation, new gates, expanded passenger facilities, 155,000+ square feet of concessions, and a new flagship United Club
Near World Houston International Business Center, a 44-building, ~3.8 million-square-foot industrial/flex business park supporting durable weekday demand
Positioned within the North Houston corporate corridor, with efficient access to major corporate campuses including ExxonMobil’s 385-acre global headquarters, and Hewlett Packard Enterprise’s world headquarters
Benefits from major northeast Houston growth catalysts, including Generation Park, a 4,300-acre master-planned district where Eli Lilly is developing a $6.5 billion pharmaceutical manufacturing facility expected to create 615 permanent jobs and 4,000 construction jobs
Houston, the nation’s fifth-most populous metro with ~7.8 million residents, supports broad-based lodging demand
Houston generates durable year-round corporate travel as a leading global energy hub with 4,700+ energy-related companies
Houston’s deep corporate base, including 25 Fortune 500 headquarters in Harris County, further drives business demand
Houston's airports served 62+ million passengers in 2025, while Bush Intercontinental recorded all-time high international traffic, underscoring Houston's strong fly-in demand base
Major infrastructure investment, including the ~$2.6 billion IAH Terminal B transformation and $470 million Hobby expansion, will further strengthen the city's long-term connectivity
Houston is accelerating citywide convention demand, with 2026 definite room nights pacing almost 19% ahead of 2025 and at 118% of target, while 2027 and 2028 are tracking approximately 69% and 120% ahead year over year, respectively
The fully funded $1.4 billion GRB expansion will strengthen long-term citywide demand with a new 700,000-square-foot GRB South facility and direct Toyota Center connectivity
Continued diversification through Apple, NVIDIA, and Eli Lilly is expanding advanced manufacturing, technology, and life sciences demand
Additional demand catalysts include convention district investment, $5+ billion in Texas Medical Center expansions, and Houston’s role as a host city for seven FIFA World Cup 2026 matches
Broker of Record: Jon Nesbitt - TX License #633814-B
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Property Facts
| Sale Type | Investment | No. Rooms | 419 |
| Sale Condition | Auction Sale | No. Stories | 10 |
| Type of Ownership | Fee Simple | Year Built/Renovated | 1982/2012 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 0.84/1,000 SF |
| Building Class | B | Corridor | Interior |
| Lot Size | 8.12 AC | Parcel Number | 1143580150002 |
| Building Size | 478,990 SF | ||
| Zoning | NA | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 8.12 AC |
| Building Size | 478,990 SF |
| No. Rooms | 419 |
| No. Stories | 10 |
| Year Built/Renovated | 1982/2012 |
| Tenancy | Single |
| Parking Ratio | 0.84/1,000 SF |
| Corridor | Interior |
| Zoning | NA |
| Parcel Number | 1143580150002 |
Amenities
- Business Center
- Fitness Center
- Pool
- Restaurant
- Shuttle Service
- On-Site Retail
- High Speed Internet Access
- On-Site Bar
- Convention Hotel
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Digital key
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 40 | $306.00 | - |
| Guest Room | 379 | $250.00 | - |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Some public transit
40/100
Somewhat bikeable
30/100
About George Bush Airport Area HOS
The George Bush Airport Area is just north of downtown Houston in the fifth-largest metropolitan area in the U.S. This area is easily accessible via interstates 45 and 69, as well as the Sam Houston Tollway and Hardy Toll Road expressway. The nearby George Bush International Airport is the second busiest airport in Texas and the second largest passenger hub for United Airlines.
This area has benefited from new office buildings and retail developments as Houston’s population has grown outward over the past several decades. Business travel here is supported by industries such as manufacturing, construction, healthcare and social assistance, and transportation and warehousing. Nearby office tenants include Halliburton, United Airlines, ExxonMobile, Baker Hughes, and FMC Technologies.
Leisure visitors will find plenty to do, especially in the way of unique attractions such as the National Museum of Funeral History and TGR Exotics Wildlife Park, as well as family-friendly attractions like Hurricane Harbor Splashtown, Topgolf, and Mercer Botanic Gardens all close by. Fans of shopping will delight in the nearby Humblewood Shopping Center, Deerbrook Mall, and Greenspoint Mall.
Sale Advisors
Sale Advisors
Joseph Cuomo, Principal & Founder
Joseph Cuomo is a principal and founding member of Alchemy Real Estate Advisors (AREA). He brings 25 years of commercial real estate experience in investment sales, capital markets, special servicing, and investment banking to the Alchemy team. Before founding Alchemy, Joseph oversaw Ten-X’s institutional auction sales platform and personally transacted more than $2 billion of commercial real estate. Before that, Joseph managed LNR Partners’ loan sale advisory business and founded Lighthouse Advisory Services, a commercial real estate consulting firm. Joseph’s earlier roles include Vice President at Merrill Lynch, specializing in CMBS securitizations, and various roles at Deutsche Bank Securities and Ernst & Young. Joseph graduated cum laude from the University of Miami and holds a Bachelor of Business Administration degree.
Adam Montufar, Principal & Founder
Adam Montufar is a principal and founding member of Alchemy Real Estate Advisors (AREA). Adam brings nearly two decades of experience and has held positions with multiple blue-chip hotel investment advisory firms and large national banks. This includes prior roles with NAI Global Hotels, Wells Fargo, and US Bank. Before founding Alchemy, Adam was a Senior Managing Director at Paramount Lodging Advisors, leading nearly 250 hotel and hotel non-performing loan transactions. He earned his bachelor’s degree in economics from the University of Iowa. Adam is highly regarded as a prominent business leader in the Des Moines market and is involved in various area boards and philanthropic endeavors.
Bennett Webster, Principal & Founder
Bennett Webster is a principal and founding member of Alchemy Real Estate Advisors (AREA). Bennett has overseen the sale of nearly $3 billion in non-performing hotel and hotel loan assets, encompassing over 300 transactions throughout his career. These transactions include asset and note sales on behalf of prominent national and multinational private equity firms, REITs, lenders, and servicers. This includes extensive experience with CMBS REO, receiver sales, and non-performing loan sales. Before founding Alchemy, Bennett was a Senior Managing Director at Paramount Lodging Advisors. Bennett earned his MBA in Real Estate Finance & Investment from DePaul University Kellstadt School of Business and his bachelor’s degree in finance from Bentley University.
Brent Clemens, Principal & Founder
Brent Clemens is a principal and founding member of Alchemy Real Estate Advisors (AREA). Brent brings extensive expertise to the Alchemy team and over 20 years of experience in hotel investment sales. He started his career with CBRE’s hotel investment sales team and later served as Senior Managing Director at Paramount Lodging Advisors. Brent has personally managed over 300 hotel and non-hotel non-performing loan sales, totaling nearly $3 billion in market capitalization. These transactions include single-asset and portfolio sales for many of the industry’s top institutional investors, lenders, and special servicers. Brent earned his bachelor’s degree from the University of Notre Dame.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auctioneer License: Ten-X Commercial, LLC Todd Siegel RE Brkr 9004662
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Auction FAQ's
Contacts
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Joseph Cuomo -
Adam Montufar -
Bennett Webster -
Brent Clemens -
Alchemy Real Estate Advisors, LLC
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
