Staybridge Suites
*90 Unit Staybridge Suites Built in 2012; Part of the IHG Houston North Portfolio
*Portfolio Includes the Holiday Inn Express & Suites and +/- 9 acre Pad Sites
*Located in Close Proximity to the George Bush Intercontinental Airport (IAH)
*Existing CMBS Loan Assumption is Required
*Immediate Access from Beltway 8, Hardy Toll Road, and Interstate 45
*The Houston IAH Area Includes over 6,000 Businesses and 64,000 Employees
Investment Overview:
Marcus & Millichap's National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Staybridge Suites - IHG IAH Portfolio. The InterContinental Hotels Group-branded property is priced at $9,800,000 or $108,889 price per room; this represents a 3.95 room revenue multiplier on the October 2018 trailing-12-month financials. The hotel features an outdoor pool, fitness center, and a business center.
Priced well below replacement cost, this four-story, 90-room hotel presents an investor the opportunity to acquire an opportunistic property with substantial upside through effective cost management and modest revenue growth. The expenses include provisions for a 3 percent management fee and 4 percent reserves for capital replacement.
An established property, constructed in 2012, is conveniently located at 1910 North Sam Houston Parkway East and has easy access to the George Bush Intercontinental Airport (IAH). The airport is Houston's largest and currently ranks third in the United States among U.S. airports with scheduled non-stop domestic and international services. Furthermore, IAH is ranked as the 17th largest gateway in the U.S. in terms of air cargo processing. In 2016, a new $440 million Terminal E expansion was completed and this is enhancing the ability to serve more travelers which will generate more room demand in the region. *This hotel requires existing CMBS loan assumption.
Property Overview:
The Staybridge Suites Houston is a 90-room, four-story, extended stay hotel. Built in 2012, the upscale hotel offers many common area and guest room amenities. The spacious guest rooms come equipped with a microwave, refrigerator, dishwasher, flat-screen television, DVD player, and a kitchen. The hotel's common area amenities feature guest laundry, business center, meeting room, fitness center, outdoor pool, and barbeque grills
Holiday Inn Express & Suites
Investment Overview:
Marcus & Millichap's National Hospitality Group, as an exclusive representative of the seller, is pleased to present for sale to qualified investors the Holiday Inn Express & Suites - IAH IHG Portfolio. The InterContinental Hotels Group-branded property is priced at $12,300,000 or $114,953 price per room. The hotel features an outdoor pool, fitness center, and a business center.
The Holiday Inn Express & Suites is a new property and performance is still ramping up. It is being offered at replacement cost. This four-story, 107-room hotel presents an investor the opportunity to acquire an opportunistic property with substantial upside through effective cost management and modest revenue growth. The expenses include provisions for a three percent management fee and four percent reserves for capital replacement.
A newly constructed property, built in 2018, is conveniently located at 1920 North Sam Houston Parkway East and has easy access to the George Bush Intercontinental Airport (IAH). The airport is Houston's largest and currently ranks third in the United States among U.S. airports with scheduled non-stop domestic and international services. Furthermore, IAH is ranked as the 17th largest gateway in the U.S. in terms of air cargo processing. In 2016, a new $440 million Terminal E expansion was completed and this is enhancing the ability to serve more travelers which will generate more room demand in the region.
Property Overview:
The Holiday Inn Express & Suites is a 107-room, four-story, limited-service hotel. Opened in January 2018, the upper midscale hotel offers many common areas and guest room amenities. The well-equipped guest rooms offer a mini refrigerator, microwave, flat-screen television, and connecting rooms are available. The hotel's common area amenities feature an outdoor pool, complimentary fitness center, and self-laundry facilities.
Commercial Pad Sites
Price $2,900,000
Lot Size (Acres) 9.17 Acres
Density 1
Number of Lots 2
