The property, built in 1990, was purchased by Mr. Aman Patel, based in Texas City, Texas, from VSBA - REO Holdings LLC, based in Dallas, Texas.
Brent Ciurlino, Chief Operating Officer of VelocitySBA, commented, “Selling a closed hotel with no recent revenue is never easy, but the HVS team did an incredible job. They created a highly competitive environment that brought in ten offers in less than a month. Because of the marketplace they built, we were able to select a buyer who closed in under 30 days at a price that exceeded our initial expectations. Their execution was seamless.”
The property benefits from excellent visibility and accessibility from Interstate 10 in Junction; moreover, four onsite EV charging stations generate additional revenue for the hotel. Junction serves as a retail and tourism hub for those visiting South Llano River State Park. Strong hunting tourism exists in this area, with deer hunters contributing significantly to lodging demand. Seasonal tourism peaks from March through October, driven by river recreation, hunting and wildlife seasons, and annual events. Corporate/commercial demand also contributes to occupancy, driven by regional oil and gas (O&G) activity, agriculture and ranching businesses, and transportation corridors that make Junction a natural stopover for business travelers.
“At first glance, this wasn’t a pretty deal. The hotel was closed and required significant capital investment. However, the fundamentals were in place. We framed it correctly and backed it with local market data to present a solid pro forma. Once buyers understood the path forward, the response was strong—ten offers in 29 days—and through that competition, we were able to drive pricing above our initial guidance,” said Matthew Omansky, Senior Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, Andrew Frosch, Matthew Omansky, Kyle Peterek, Fadi Rawashdeh, and Daneen Godinet 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
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