HOUSTON, TX, January 21, 2025: HVS Brokerage & Advisory announces the sale of the 90-key Home2 Suites by Hilton Huntsville, located at 199 Interstate 45 South, Huntsville, Texas 77340.
The hotel asset, built in 2024, was purchased by Jeetoh Inc., based in Stockton, California, from Shivam Hospitality Inc., based in Huntsville, Texas.
Ravi Patel, President of Shivam Hospitality Inc., commented, “The HVS team excelled in selling our newly opened Home2 Suites by Hilton. While the Huntsville market is robust and local hotels are performing well, some buyers were initially hesitant about this asset and future performance. HVS provided solid data to back their pro forma. The HVS seller dashboard was very useful in keeping us apprised of their marketing efforts during the entire process. Their dedication and strong relationships with buyers resulted in multiple offers, all from out-of-state investors, and the final buyer successfully met a tight year-end closing deadline.”
The newly constructed property benefits from its location along the frontage road of Interstate 45, within the Ravenwood Village Shopping Center, offering guests several dining, retail, and entertainment options. Huntsville is home to Sam Houston State University (SHSU) and the headquarters for the Texas Department of Criminal Justice (TDCJ), as well as seven TDCJ prison units. Other notable local demand generators include the Huntsville State Park, Sam Houston National Forest, Sam Houston Memorial Museum, Texas Prison Museum, The HEARTS Veterans Museum of Texas, Huntsville Memorial Hospital, and the historic Downtown Huntsville district.
“We are pleased to announce the sale of the Home2 Suites by Hilton Huntsville. We highlighted the strong local demand generators and the excellent in-place yield to potential investors and overcame the challenges of a premium price per key, a lack of historical operating history, and a small submarket. Using a competitive marketing process, we secured a buyer that closed the deal ahead of schedule without any re-trades,” said Eric Guerrero, Senior Managing Director, Partner of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, & Kyle Peterek participated in this transaction.
Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620
The hotel asset, built in 2024, was purchased by Jeetoh Inc., based in Stockton, California, from Shivam Hospitality Inc., based in Huntsville, Texas.
Ravi Patel, President of Shivam Hospitality Inc., commented, “The HVS team excelled in selling our newly opened Home2 Suites by Hilton. While the Huntsville market is robust and local hotels are performing well, some buyers were initially hesitant about this asset and future performance. HVS provided solid data to back their pro forma. The HVS seller dashboard was very useful in keeping us apprised of their marketing efforts during the entire process. Their dedication and strong relationships with buyers resulted in multiple offers, all from out-of-state investors, and the final buyer successfully met a tight year-end closing deadline.”
The newly constructed property benefits from its location along the frontage road of Interstate 45, within the Ravenwood Village Shopping Center, offering guests several dining, retail, and entertainment options. Huntsville is home to Sam Houston State University (SHSU) and the headquarters for the Texas Department of Criminal Justice (TDCJ), as well as seven TDCJ prison units. Other notable local demand generators include the Huntsville State Park, Sam Houston National Forest, Sam Houston Memorial Museum, Texas Prison Museum, The HEARTS Veterans Museum of Texas, Huntsville Memorial Hospital, and the historic Downtown Huntsville district.
“We are pleased to announce the sale of the Home2 Suites by Hilton Huntsville. We highlighted the strong local demand generators and the excellent in-place yield to potential investors and overcame the challenges of a premium price per key, a lack of historical operating history, and a small submarket. Using a competitive marketing process, we secured a buyer that closed the deal ahead of schedule without any re-trades,” said Eric Guerrero, Senior Managing Director, Partner of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, & Kyle Peterek participated in this transaction.
About HVS Brokerage & Advisory
The Brokerage & Advisory division is a specialized group within HVS that offers services related to investment sales and capital markets, focused exclusively on the hospitality industry. With a global footprint and over 35 offices nationwide, HVS’s hospitality intelligence and extensive expertise will help you achieve the results you want.Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620