Hilton Garden Inn Covington, LA

Listing Agents

Kami Burnette
T | 512.574.1786
kburnette@paramountlodging.com

Mason McDavid
T | 512.543.4653
mmcdavid@paramountlodging.com

Detailed Information
Property Highlights
  • Fee simple interest in the real estate owned, 116-room Hilton Garden Inn Covington LA offered at a discount to replacement cost
  • Property is for sale in the December 14th auction event on the Ten-X platform
  • The hotel, which has been third party managed since late 2020 and REO since mid-2021, will be offered unencumbered of management and debt
  • Significant upside for a perspective buyer transitioning from third-party management to an owner/operator model with property performing at +121% premium to pre-COVID RevPAR
  • Ability to retain the Hilton Garden Inn flag for a new long-term license with completion of the change-of-ownership PIP
  • Opportunity to maximize benefit from the Hilton reservation system as the nearby Homewood Suites is being converted to affordable housing
  • Proximate to all local Covington demand including St. Tammany Parish Hospital which is six miles from the Subject hotel
  • Optimal time to be investing in the broader New Orleans-Metairie MSA with drive-to leisure market occupancy and ADR continuing to outpace the broader national recovery
  • Louisiana’s post-pandemic state’s economy recovery is expected to surpass 2019 level by year-end 2022 in part led by the strength of
  • Louisiana’s natural gas and oil industry
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