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Comfort Suites Houston Galleria – Image Credit CBRE
CBRE Hotels is soliciting offers to acquire the fee-simple interest in the Comfort Suites near the Galleria in Houston, Texas. The hotel is situated off Richmond Avenue, just two miles from The Galleria, Texas’ largest shopping center and seventh largest domain nationally. In addition, the property is proximate to a high concentration of both corporate and leisure demand generators, including the Houston Museum District, Minute Maid Park, NRG Stadium, and Texas Medical Center.
Investment Highlights
- Rare opportunity to purchase a 61-room, three-story, interior-corridor, Comfort Suites in the Houston Uptown/Galleria market, one of the most premier real estate submarkets in Greater Houston.
- Spark by Hilton conversion opportunity is possible at this location. Please contact brokers for more details.
- The hotel is in a high barrier-to-entry market. This offering presents a unique opportunity to acquire an ideally located property at significantly below replacement cost.
- According to the Seller, the property has the potential to add 31 additional guestrooms. Please ask brokers for more details.
- The Comfort Suites is offered with significant upside potential. Upon completion of the change of ownership PIP, the hotel is projected to perform at $77 RevPAR and $1.7 million Room Revenue.
- The property is just two miles from The Galleria, the largest mall in Texas. Spanning 2.4 million square feet of space, housing 400 fine stores and restaurants, two high-rise Westin hotels, and three office towers, The Galleria is Houston’s most popular retail and tourist destination that welcomes more than 30 million visitors each year.
- In addition to The Galleria, the hotel is in proximity to multiple leisure demand drivers, including Memorial Park, Museum District, George Brown Convention Center, PNC Stadium(Home of Houston Dynamo FC, a Major League Soccer club), Minute Maid Park (Home of the Houston Astros Baseball team), and Toyota Center(Home of Houston Rockets).
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