Hotels for Sale

La Quinta Inns & Suites Big Spring, TX

Address:
Big Spring, TX, Texas
Description:

UNDER CONTRACT

  • Fee simple interest in the lender-owned and newly renovated, 73-room La Quinta Inn & Suites Big Spring, TX
  • Offered for sale traditionally with a Call for Offers date of Wednesday, June 16th
  • Minimal PIP requirement with lender having already invested approximately $1.3M ($18k/key) on a renovation completed in 2019
  • Offered unencumbered of management and debt with the ability to retain the La Quinta flag with a long-term relicense
  • Significant operational upside for a prospective owner/operator with the hotel REO since February 2017
  • Ideally situated at the intersection of US Highway 87 and Interstate 20, known as the “Crossroads of West Texas,” with over 29,000 vehicles passing the subject daily
  • Proximate to key regional demand generators including Alon USA Refinery, Derek USA, Big Spring State Park, Big Spring State Hospital, VA Medical Center, Big Spring’s multiple museums, and Howard College
  • Optimal time to be investing in Big Spring with steadily improving energy activity and WTI pricing having increased 40% in the past six months to a profitable price that will continue to incentivize production and capital investments in the Permian

Listing Agents

Kami Burnette
T | 512.831.5605
Email

Mason McDavid
T | 512.543.4653
Email

Adam Montufar
T | 515.446.4181
Email

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