Hotels for Sale

COURTYARD BY MARRIOTT HOUMA, LA

Address:
Houma, Louisiana
Description:
  • Fee simple interest in the institutionally owned and third-party managed 144-room Courtyard by Marriott Houma offered at a substantial discount to replacement cost
  • Property offered for individual sale in the April 7th auction event as part of larger seven asset Texas and Louisiana portfolio affording the buyers the opportunity to purchase multiple assets with strong operating economies of scale across the Mid & Southeastern portion of the United States.
  • Property continues to grossly outperform national occupancy with asset running approximately +80% occupancy over the trailing twelve months
  • Ability for qualified buyers to retain the Courtyard flag with a new long-term 15-year license upon completion of minor deficiency items
  • Property benefits from ample 4,500 SF of meeting space - allowing the asset to better competitively position itself against the comp set while vying for group accounts and allowing prospective buyers to benefit from the higher margin room rental revenue
  • Strong operational upside for prospective buyers with a focused local / regional strategy and market knowledge
  • Seller has completed approximately $1.6MM ($11k/key) in renovations in recent years
  • Ideally located and easily accessible to all core Houma area demand generators including Gulf Island Fabrication, Terrebonne General Medical Center, Houma-Terrebone Airport & Industrial Park, Bollinger Shipyard, BP Houma Operations Learning Center and the Houma-Terrebonne Civic Center
  • Ideal opportunity to invest in the region, as oil prices continue to rally and are approaching 15-month highs

Listing Agents

Sean Banilivy
T | 516.456.7525
Email

Mason McDavid
T | 512.543.4653
Email

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