HOUSTON, TX, August 14, 2024: HVS Brokerage & Advisory announces the sale of the 82-key Hampton Inn & Suites by Hilton Houston North IAH Airport, located at 707 North Sam Houston Parkway East, Houston, Texas 77060.
The property, built in 2015, was purchased by RVS Hospitality Group LLC, based in Newark, Delaware, from XE Hospitality, based in Houston, Texas.
Amir Ali Zindani, Principal of XE Hospitality, commented, “We are grateful for the HVS team’s efforts in selling our hotel. We didn’t receive many offers through traditional marketing methods due to the overall softness of the Houston market. The HVS team suggested an online auction via Ten-X, which led to a competitive process and secured a buyer with 10% non-refundable earnest money, closing ahead of schedule.”
The property benefits from its strategic location between Interstate 45 and the Hardy Toll Road, a convenient three miles from the George Bush Intercontinental Airport (IAH), near a multitude of corporate and leisure demand drivers including Haliburton, Baker Hughes, Crane Worldwide Logistics Headquarters, Houston Aquarium & Animal Adventure, Deerbrook Mall, The Woodlands Mall, Hurricane Harbor Splashtown Waterpark, Rockstar Energy Bike Park, and Sam Houston Race Park.
“We conducted a highly competitive auction process, attracting over 200 confidentiality agreements and more than 15 approved bidders. The auction saw robust bidding activity, and the property sold at 117% of the reserve price to an out-of-state, first-time hotel investor. It was a pleasure collaborating with Ten-X to successfully sell this hotel,” said James Rebullida, Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, & Kyle Peterek participated in this transaction.
Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 2015, was purchased by RVS Hospitality Group LLC, based in Newark, Delaware, from XE Hospitality, based in Houston, Texas.
Amir Ali Zindani, Principal of XE Hospitality, commented, “We are grateful for the HVS team’s efforts in selling our hotel. We didn’t receive many offers through traditional marketing methods due to the overall softness of the Houston market. The HVS team suggested an online auction via Ten-X, which led to a competitive process and secured a buyer with 10% non-refundable earnest money, closing ahead of schedule.”
The property benefits from its strategic location between Interstate 45 and the Hardy Toll Road, a convenient three miles from the George Bush Intercontinental Airport (IAH), near a multitude of corporate and leisure demand drivers including Haliburton, Baker Hughes, Crane Worldwide Logistics Headquarters, Houston Aquarium & Animal Adventure, Deerbrook Mall, The Woodlands Mall, Hurricane Harbor Splashtown Waterpark, Rockstar Energy Bike Park, and Sam Houston Race Park.
“We conducted a highly competitive auction process, attracting over 200 confidentiality agreements and more than 15 approved bidders. The auction saw robust bidding activity, and the property sold at 117% of the reserve price to an out-of-state, first-time hotel investor. It was a pleasure collaborating with Ten-X to successfully sell this hotel,” said James Rebullida, Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, & 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
Senior Marketing Director
[email protected]
+1 (720) 244-7620