What's Happening?
HVS Brokerage & Advisory has completed the sale of a development parcel for a Home2 Suites by Hilton in Bellmead, Texas. The property, located near the intersection of Research Avenue and Interstate 35
Frontage Road, was acquired by Bellmead Hospitality LLC from Lalani Lodging, Inc. The site is strategically positioned near Interstate 35, offering convenient access to Waco, a growing tourist destination. Waco's economy benefits from attractions like Magnolia Market at the Silos and institutions such as Baylor University. The sale is the second hotel development site transaction by HVS this year, highlighting the strong revenue potential of the Waco submarket and the appeal of the Hilton franchise.
Why It's Important?
The sale of the Home2 Suites by Hilton development site in Bellmead underscores the growing interest in the Waco area as a viable market for hospitality investments. The region's economic diversification and tourist attractions make it an attractive location for hotel development. The transaction reflects broader trends in the hospitality industry, where strategic location and brand affiliation play crucial roles in investment decisions. The involvement of HVS Brokerage & Advisory and the Hilton franchise affiliation further emphasize the site's potential for generating significant revenue and attracting visitors.
