What is the story about?
What's Happening?
The Holiday Inn Express & Suites Corpus Christi North is now available for acquisition at a reduced price of $6,900,000. This 64-key hotel, located near the Port of Corpus Christi, has undergone significant renovations under the Formula Blue 2.0 design scheme over the past two years. These updates have positioned the hotel competitively in the market, with a strong average annual revenue of $1,895,618 since its opening in June 2011. The hotel leads in revenue per available room (RevPAR) among its local competitors, with a penetration index of 127.8%.
Why It's Important?
The sale of the Holiday Inn Express & Suites Corpus Christi North presents a strategic investment opportunity due to its prime location and recent renovations. The hotel's proximity to major attractions and institutions like Texas A&M University-Corpus Christi and the Naval Air Station Corpus Christi enhances its appeal to both commercial and leisure travelers. The potential for increased profitability through strategic expense management and enhanced on-property oversight makes it an attractive prospect for experienced investors. The ongoing development in Corpus Christi, including new facilities at Texas A&M University and a multi-sport complex, suggests a positive outlook for increased visitor traffic and business growth.
What's Next?
Interested investors are encouraged to contact Andrew Frosch for more details on this investment opportunity. The potential for enhanced financial performance under more hands-on management could attract experienced owner/operators looking to capitalize on the hotel's strategic location and recent upgrades. The continued development in the Corpus Christi area is likely to further boost the hotel's business prospects, making it a promising investment for those looking to enter or expand in the hospitality sector.
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