HOUSTON, TX, August 15, 2022: HVS Brokerage & Advisory announces the sale of the 118-key Howard Johnson by Wyndham Beaumont, located at 1610 IH10 South, Beaumont, Texas 77707.
The property, built in 1984 and renovated in 2020, was purchased by Pride Management, based in Beaumont, Texas, from American Liberty Hospitality (ALH), based in Houston, Texas.
“It was a pleasure working with two of our top clients on this transaction. ALH was looking to dispose of a legacy asset, and Pride Management has been active in growing its portfolio in the Golden Triangle. This property has an excellent location along Interstate 10, and Pride is planning a full-scale renovation and conversion of the hotel to a Baymont by Wyndham, to include some extended-stay rooms. Through a broad marketing process, we procured multiple offers from a nationwide pool of buyers, and Pride was chosen due to the strong deal terms,” said Eric Guerrero, Managing Director and Partner of HVS Brokerage & Advisory.
The property benefits from its strategic location near the interchange of Interstate 10 and U.S. Highway 287, near a multitude of corporate drivers including the expanding ExxonMobil refinery, Chevron, Motiva Enterprises, Sunoco Logistics, Huntsman, BASF, Total Petrochemicals, Valero, Port of Beaumont, Lamar University, and Ford Park. The Beaumont/Port Arthur market has an abundance of petrochemical refineries, and the industry has been experiencing a boom in growth because of the increased global demand.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, and Kyle Peterek participated in this transaction.
Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 1984 and renovated in 2020, was purchased by Pride Management, based in Beaumont, Texas, from American Liberty Hospitality (ALH), based in Houston, Texas.
“It was a pleasure working with two of our top clients on this transaction. ALH was looking to dispose of a legacy asset, and Pride Management has been active in growing its portfolio in the Golden Triangle. This property has an excellent location along Interstate 10, and Pride is planning a full-scale renovation and conversion of the hotel to a Baymont by Wyndham, to include some extended-stay rooms. Through a broad marketing process, we procured multiple offers from a nationwide pool of buyers, and Pride was chosen due to the strong deal terms,” said Eric Guerrero, Managing Director and Partner of HVS Brokerage & Advisory.
The property benefits from its strategic location near the interchange of Interstate 10 and U.S. Highway 287, near a multitude of corporate drivers including the expanding ExxonMobil refinery, Chevron, Motiva Enterprises, Sunoco Logistics, Huntsman, BASF, Total Petrochemicals, Valero, Port of Beaumont, Lamar University, and Ford Park. The Beaumont/Port Arthur market has an abundance of petrochemical refineries, and the industry has been experiencing a boom in growth because of the increased global demand.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, and Kyle Peterek 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