Staybridge Suites Lubbock, TX

Listing Agents

Min Hoang
T | 949.601.5252
mhoang@paramountlodging.com
DRE#01993433

Mason McDavid
T | 512.543.4653
mmcdavid@paramountlodging.com

Detailed Information
Property Highlights
  • Fee simple interest in the institutionally owned and third party managed, 82-room Staybridge Suites Lubbock offered at a discount to replacement cost
  • Property available for individual sale in the June 22nd Ten-X auction event as part of a larger four asset Texas and Louisiana portfolio affording buyers the opportunity to acquire multiple assets with strong, regional operating economies of scale
  • Hotel was recently renovated in 2021 and will be delivered unencumbered of management and debt with the ability to retain the Staybridge flag upon IHG approval
  • Lubbock MSA hotels exceeded pre-COVID RevPAR in 2021 by 21%. The Staybridge RevPAR is still grossly underperforming at 14% below pre-COVID, offering significant upside for a perspective buyer to transition to an owner/operator model
  • Situated just east of Texas Tech University, the MSA’s largest demand generator, where the hotel benefits from fall football games, move-in weekend, spring baseball games, and graduation activities
  • Proximate to all broader demand including Covenant Health, University Medical Center, Texas Tech Health Sciences and the Buddy Holly Center
  • Ideal opportunity to invest in Texas as corporate and domestic migration trends continue to heavily favor the quality of life and business friendly tax environment
Location