HOUSTON, TX, June 24, 2022: HVS Brokerage & Advisory announces the sale of the 81-key La Quinta Inn & Suites by Wyndham Houston Cypress, located at 27130 Highway 290, Cypress, Texas 77429.
The property, built in 2016, was purchased by HMC of Gunnison LLC, based in Timnath, Colorado, from Cypress Lodging Group, LLC, based in Houston, Texas.
Neal Patel, Principal of Katy Lodging Group LLC, commented, “I am very excited to say that working with the HVS team was amazing. The team is very experienced in marketing hotel transactions. When they found me a buyer for my hotel as quickly as they did, I was in shock. They got me my asking price without any price negotiations. When the HVS team finds you a buyer, it’s 99.9% guaranteed the transaction will go through. I am very pleased to have worked with them in my hotel sale and look forward to working with them in the near future.”
The hotel benefits from various corporate demand generators in the area, including Sysco Business Services, Memorial Hermann Cypress Hospital, HCA Houston Healthcare North Cypress, McKesson Medical-Surgical, Wyman-Gordon, RTIC Coolers, Stress Engineering Services, Enerflex Energy Systems, Siemens Energy, Gyrodata Inc., Northwest Lake Business Park, and Aberdeen Business Park.
“We appreciate the seller working closely with us as a partner to successfully secure a buyer and complete the transaction. By conducting a broad nationwide marketing campaign, we precured multiple offers and ultimately selected a qualified 1031-exchange out-of-state buyer. The buyer was attracted to the newer age of the property, strong rebound of the hotel’s performance, and the economic growth within the Cypress, Texas, submarket. We are noticing a more robust recovery in assets located in secondary markets outside of major metros, mainly driven by the leisure and group demand segments,” said James Rebullida, Vice President of HVS Brokerage & Advisory.
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.
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