The 2013-built property was purchased by RKP4 Holdings LLC, based in Lubbock, Texas, from WG Seminole Hospitality, Ltd., and LB Hospitality, Inc.—both based in Midland, Texas.
WG Seminole Hospitality commented, “The HVS marketing strategy generated multiple offers on the hotel, which gave us confidence that we were achieving the best outcome. As the transaction progressed, several challenges arose that required creative solutions, including property improvements that needed to be completed prior to closing, as well as operational considerations tied to the hotel's bar. Matthew and the HVS team remained actively engaged throughout the entire process, helping both sides navigate issues as they emerged and guiding the deal forward. Their persistence, market knowledge, and ability to deliver solutions were instrumental in reaching a successful closing. We greatly appreciate their efforts and would not hesitate to recommend them to other hotel owners.”
The hotel benefits from its strategic location along U.S. Highway 62/Hobbs Highway in Gaines County within the Permian Basin—one of the largest oil deposits in the United States and consistently ranked among the top regions for domestic oil production. The market is supported by leading energy companies, such as Chevron and OXY USA Inc., as well as by agricultural operations and hospitals in the area. Additionally, Seminole is a short drive from Zia Park Casino & Racetrack in Hobbs, a well-known draw for highway travelers given its proximity to the Texas/New Mexico border.
“We are pleased to announce the successful sale of the Wingate by Wyndham in Seminole, Texas. This transaction presented several complexities, including seller-completed capital improvements prior to closing and operational considerations related to the property’s bar component. Through a competitive marketing process, we were able to generate multiple offers and ultimately identify the right buyer to successfully complete the transaction,” said Matthew Omansky, Senior Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, 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:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620