La Quinta Inns & Suites Midland, TX

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 institutionally owned and previously brand managed 146-key La Quinta Inns & Suites Midland TX offered at a substantial discount to replacement cost
  • Property offered for individual sale in the May 20th-24th auction event as part of a larger five asset Texas, Illinois and New Jersey portfolio
  • Strong operational upside for prospective buyers with a focused local / regional strategy and market knowledge
  • Property offered with very advantageous PIP treatment transferrable to Buyer
  • Ability for qualified buyers to retain the Wyndham flag with a new long-term license upon completion of the pre-negotiated La Quinta PIP
  • Ideally situated along I-20 in south Midland with approximately 58,000 vehicles passing the location daily
  • As of March 2022, active rigs in the Permian Basin totaled 316 which is an 80% increase over the trailing twelve months resulting in higher demand for hotel nights in the region
  • WTI price per barrel is hovering above $110/b, which is approximately a 80% increase since March 2021 and is an overarching positive indicator for energy demand in Midland
  • Energy Demand – continued positive outlook on the regional oil and gas sector indicates a strong upside opportunity for additional drilling and related activity in the Permian. This includes a focus on the city of Midland and broader regional market and surrounding communities
Location