Hotels for Sale

Three Hotel Lubbock Portfolio

Address:
Lubbock, Texas
Description:
  • Fee simple interest in the 103-room Courtyard by Marriott, 80-room Hampton Inn & Suites, and 107-room Holiday Inn Express Lubbock TX offered at a discount to replacement cost
  • Properties are being sold individually or as a portfolio, providing buyers the opportunity to purchase three assets within close proximity and capitalize on strong operating synergies by owning three well branded hotels serving different market segments and brands
  • Well diversified and strategically located portfolio that currently has positive NOI and averaged $80 RevPAR pre-COVID
  • Portfolio available unencumbered of debt with ability to retain the franchise on all three for long-term licenses upon franchise approval and completion of PIP
  • Minimal Capex and PIP expectations based on recent Hampton renovation and age of Courtyard and Holiday Inn Express
  • The Courtyard by Marriott and Holiday Inn Express are situated adjacent to and directly visible from US-82 with more than 73,000 vehicles passing the location daily. The Hampton Inn & Suites is situated adjacent to and directly visible from TX-289
  • Proximate to all broader demand including Texas Tech University, Covenant Health, University Medical Center and Texas Tech Health Sciences
  • Opportune time to invest in the Lubbock MSA given the population is expected to grow at approximately 6 percent over the next five years

Listing Agents

Kami Burnette
T | 512.831.5605
Email

Mason McDavid
T | 512.543.4653
Email

Scott Griemsmann
T: 415.419.5765
Email
DRE #01336236

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