The property, built in 1985, was purchased by Hasu Hospitality LLC, based in Victoria, Texas, from Hugh Black-St. Mary Enterprises, Inc., based in Corpus Christi, Texas.
The property benefits from its favorable location, with immediate access to Interstate 37, within three miles of Corpus Christi International Airport, and near major demand drivers such as the Valero refinery, CITGO Petroleum Corporation, and the Port of Corpus Christi (one of the largest ports in the United States). Leisure demand generators include Padre Island, Mustang Island, Downtown Corpus Christi, Hurricane Alley Waterpark, the Texas State Aquarium, and the USS Lexington Museum. Other prominent contributors to lodging demand include well-respected institutions such as Del Mar College, Texas A&M University-Corpus Christi, CHRISTUS Spohn Health System, Corpus Christi Medical Center Doctors Regional, and the Naval Air Station Corpus Christi.
“This was a true value-add opportunity in a solid South Texas market. The hotel had strong and consistent historical revenues, but the asset required a PIP and meaningful capital investment. We knew the upside was compelling given the two brand affiliations and location. By leveraging the Ten-X platform, we were able to create a competitive auction environment that generated multiple bidders and supported a successful outcome. The property transitioned smoothly from absentee ownership to an experienced, local owner/operator; Hasu Hospitality is well positioned to carry out the renovations and unlock the hotel’s next level of performance,” said Andrew Frosch, Managing Director, and Matthew Omansky, Senior Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Andrew Frosch, Matthew Omansky, Fadi Rawashdeh, Kyle Peterek, 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:
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