HOUSTON, TX, November 9, 2022: HVS Brokerage & Advisory announces the sale of the 96-key Holiday Inn Express & Suites Houston NW – Cypress Grand Parkway, an IHG hotel located at 21410 Fairfield Place Drive, Cypress, Texas 77433.
The property, built in 2017, was sold through a competitive traditional marketing process. It was purchased by Capital One Hotels, based in Houston, Texas, from Ta Vu LLC, also based in Houston.
Tony Ta, Principal of Ta Vu LLC, commented, “Even though I am an experienced real estate investor, this was my first time selling a hotel property. The HVS team helped me with navigating through the nuances of getting the hotel sold, including expediting the franchise transfer process. They found an all-cash buyer that closed without any renegotiations in less than 45 days. I highly recommend them to any ownership group that is looking for an experienced hotel advisor.”
The property benefits from its strategic location along U.S. Highway 290 and is the only hotel within the Houston Premium Outlets outdoor retail development, which features many dining options, a movie theatre, and a wide collection of brands within 145 stores, including Armani, Burberry, Coach, Adidas, Nike, Kate Spade New York, and Tory Burch, among others. It is also proximate to multiple wedding venues in the area, including Lindsay Lakes, Bridal Oaks Weddings & Events, and Enchanted Cypress, among others.
“We ran a tight process that generated multiple competing offers from a large pool of buyers, mostly from out of state. There was strong interest due to the location within the Houston Premium Outlets and the operational upside for a more aggressive operator. Through a competitive call-for-offer process, the winning buyer increased its original bid by over $500,000 and was an all-cash group that closed quickly,” said James Rebullida, Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh. and Kyle Peterek participated in this transaction.
Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620
The property, built in 2017, was sold through a competitive traditional marketing process. It was purchased by Capital One Hotels, based in Houston, Texas, from Ta Vu LLC, also based in Houston.
Tony Ta, Principal of Ta Vu LLC, commented, “Even though I am an experienced real estate investor, this was my first time selling a hotel property. The HVS team helped me with navigating through the nuances of getting the hotel sold, including expediting the franchise transfer process. They found an all-cash buyer that closed without any renegotiations in less than 45 days. I highly recommend them to any ownership group that is looking for an experienced hotel advisor.”
The property benefits from its strategic location along U.S. Highway 290 and is the only hotel within the Houston Premium Outlets outdoor retail development, which features many dining options, a movie theatre, and a wide collection of brands within 145 stores, including Armani, Burberry, Coach, Adidas, Nike, Kate Spade New York, and Tory Burch, among others. It is also proximate to multiple wedding venues in the area, including Lindsay Lakes, Bridal Oaks Weddings & Events, and Enchanted Cypress, among others.
“We ran a tight process that generated multiple competing offers from a large pool of buyers, mostly from out of state. There was strong interest due to the location within the Houston Premium Outlets and the operational upside for a more aggressive operator. Through a competitive call-for-offer process, the winning buyer increased its original bid by over $500,000 and was an all-cash group that closed quickly,” said James Rebullida, Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh. and Kyle Peterek participated in this transaction.
About HVS Brokerage & Advisory
The Brokerage & Advisory division is a specialized group within HVS that offers services related to investment sales and capital markets, focused exclusively on the hospitality industry. With a global footprint and over 40 offices nationwide, HVS’s hospitality intelligence and extensive expertise will help you achieve the results you want.Media Contact:
Lizzette Casarin
Marketing Director
[email protected]
+1 (720) 244-7620