La Quinta Inns & Suites Odessa, 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 122-key La Quinta Inns & Suites Odessa 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
• Significant 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 just south of the University of Texas Permian Basin with approximately 47,000 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, which is approximately an 80% increase since March 2021 and is an overarching positive indicator for energy demand in Odessa
• 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 Odessa and broader regional market and surrounding communities
Location