HOUSTON, TX, May 4, 2022: HVS Brokerage & Advisory announces the sale of the 56-key Comfort Inn & Suites FM 1960 - Champions, located at 3555 FM 1960 West, Houston, Texas 77068.
The limited-service hotel property, built in 1997, was sold via an online auction on Ten-X. It was purchased by Mahantraj Houston LLC, based in Dallas, Texas, from 1668 Hospitality Inc., based in Houston, Texas.
The property was absentee owned, with great upside for a more hands-on owner/operator to restructure the hotel’s operations, establish yield-management strategies, and initiate cost-containment initiatives.
“When we secured the listing, we knew it was going to be a challenge obtaining a qualified buyer that could close the transaction due to the historical performance of the property. We brainstormed with the seller and agreed to utilize the Ten-X auction platform to market the asset. The auction process yielded a buyer that was able to successfully close the transaction within 45 days. The buyer was attracted to the operational upside and rebounding revenue trend in the last six months,” said James Rebullida of HVS Brokerage & Advisory.
The property benefits from its strategic location along FM 1960 between Interstate 45 and U.S. Highway 249, near a multitude of demand generators. Corporate demand generators in the area include Filtration Technology Corporation, GE Oil & Gas, GENERON, Essentra Pipe Protection Technologies, FMC Technologies, Rubicon Oilfield International, Cutten Road Business Park, and Pinto Business Park, as well as Willowbrook Methodist Hospital, St. Luke’s Health – The Vintage Hospital, and HCA Houston Healthcare Northwest.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, and Fadi Rawashdeh participated in this transaction.
Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620
The limited-service hotel property, built in 1997, was sold via an online auction on Ten-X. It was purchased by Mahantraj Houston LLC, based in Dallas, Texas, from 1668 Hospitality Inc., based in Houston, Texas.
The property was absentee owned, with great upside for a more hands-on owner/operator to restructure the hotel’s operations, establish yield-management strategies, and initiate cost-containment initiatives.
“When we secured the listing, we knew it was going to be a challenge obtaining a qualified buyer that could close the transaction due to the historical performance of the property. We brainstormed with the seller and agreed to utilize the Ten-X auction platform to market the asset. The auction process yielded a buyer that was able to successfully close the transaction within 45 days. The buyer was attracted to the operational upside and rebounding revenue trend in the last six months,” said James Rebullida of HVS Brokerage & Advisory.
The property benefits from its strategic location along FM 1960 between Interstate 45 and U.S. Highway 249, near a multitude of demand generators. Corporate demand generators in the area include Filtration Technology Corporation, GE Oil & Gas, GENERON, Essentra Pipe Protection Technologies, FMC Technologies, Rubicon Oilfield International, Cutten Road Business Park, and Pinto Business Park, as well as Willowbrook Methodist Hospital, St. Luke’s Health – The Vintage Hospital, and HCA Houston Healthcare Northwest.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, and Fadi Rawashdeh 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 40 offices nationwide, HVS’s hospitality intelligence and extensive expertise will help you achieve the results you want.Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620