HOUSTON, TX, May 21, 2024: HVS Brokerage & Advisory announces the sale of the 59-key Best Western Port Aransas, located at 400 East Avenue G, Port Aransas, Texas 78373.
The property, built in 1997, was purchased by BWPA Holdings LLC, based in Aransas Pass, Texas, from LVV Properties, based in Port Aransas, Texas.
Vince Vanorman, Principal of LVV Properties, commented, “It was a pleasure working with Andrew and the HVS team on the successful closing of our Best Western in Port Aransas, our first ever venture into the hotel business. They showed excellent understanding of how the asset, pricing, and local leisure market work together. With clear expertise, they carefully carried out a thorough marketing plan, resulting in a successful sale to local buyers.”
The property benefits from its prime location in Port Aransas, near a multitude of leisure and corporate demand generators. The hotel is within walking distance of the beaches along the Gulf of Mexico, ideal for leisure travelers. Other key leisure demand generators include the Port Aransas Museum, Leonabelle Turnbull Birding Center, Red Dragon Pirate Cruises, Port Aransas Fishing Pier, Dolphin Dock Charters, Port Aransas Ferry Landing, WWII Gun Mounts, and Roberts Point Park. The Port Aransas economy is further bolstered by the oil and gas (O&G), petrochemical, and manufacturing industries of the nearby Corpus Christi market. In recent years, Port Aransas has targeted certain industries, such as renewable energy, aviation, marine, medical, and information technology, as future driving forces of its economy.
“Combining our local area expertise with a nationwide marketing effort was key in finding a local buyer who was seeking to grow its hotel portfolio with the acquisition of the Best Western Port Aransas. Through the marketing process, we identified opportunities that aligned with the buyer's plans for expansion and diversification of investments. We are thrilled to deliver a positive result for a seller that we have known for many years and are excited to see the buyer continue to succeed in the growth of this region's hotel industry,” said Andrew Frosch, Senior Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Andrew Frosch, Joseph Manuel, Kyle Peterek, and Fadi Rawashdeh participated in this transaction.
Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 1997, was purchased by BWPA Holdings LLC, based in Aransas Pass, Texas, from LVV Properties, based in Port Aransas, Texas.
Vince Vanorman, Principal of LVV Properties, commented, “It was a pleasure working with Andrew and the HVS team on the successful closing of our Best Western in Port Aransas, our first ever venture into the hotel business. They showed excellent understanding of how the asset, pricing, and local leisure market work together. With clear expertise, they carefully carried out a thorough marketing plan, resulting in a successful sale to local buyers.”
The property benefits from its prime location in Port Aransas, near a multitude of leisure and corporate demand generators. The hotel is within walking distance of the beaches along the Gulf of Mexico, ideal for leisure travelers. Other key leisure demand generators include the Port Aransas Museum, Leonabelle Turnbull Birding Center, Red Dragon Pirate Cruises, Port Aransas Fishing Pier, Dolphin Dock Charters, Port Aransas Ferry Landing, WWII Gun Mounts, and Roberts Point Park. The Port Aransas economy is further bolstered by the oil and gas (O&G), petrochemical, and manufacturing industries of the nearby Corpus Christi market. In recent years, Port Aransas has targeted certain industries, such as renewable energy, aviation, marine, medical, and information technology, as future driving forces of its economy.
“Combining our local area expertise with a nationwide marketing effort was key in finding a local buyer who was seeking to grow its hotel portfolio with the acquisition of the Best Western Port Aransas. Through the marketing process, we identified opportunities that aligned with the buyer's plans for expansion and diversification of investments. We are thrilled to deliver a positive result for a seller that we have known for many years and are excited to see the buyer continue to succeed in the growth of this region's hotel industry,” said Andrew Frosch, Senior Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Andrew Frosch, Joseph Manuel, Kyle Peterek, 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
Senior Marketing Director
[email protected]
+1 (720) 244-7620