The property, built in 2008, was purchased by Vibrant Hospitality, based in Rosenberg, Texas, from Twiga Hotels Bay City LLC, based in Longwood, Florida.
The property is strategically located off State Highway 35 in Bay City, near numerous dining, retail, and entertainment options, considered a positive attribute for both business and transient guests. Large industrial complexes in the region generate significant lodging demand for the market. Many contractors and workers relocate to the area for various oil projects, often staying at local hotels for extended periods of time. Major petrochemical companies with operations in Matagorda County include Oxea Corporation, Phillips66, Occidental Chemical Company, and LyondellBasell.
Leisure demand generators include the Matagorda County Museum, Palacios Area Historical Museum, and Birding Nature Center. Special events also play a role during key weekends, such as the Matagorda Surf & Turf Festival and Wild Game & Wine Camo Festival. Additionally, youth sports tournaments and outdoor fishing events and tournaments are popular in the region and provide demand during their respective sport and fishing seasons.
“We ran a comprehensive, nationwide marketing process that drew strong interest from a national buyer pool, despite the headwinds in the local market. During the property’s three months on the market, we secured four competitive offers and ultimately selected a buyer who owns a nearby hotel and has successfully closed a deal with us in the past. Our market relationships and ability to attract repeat buyers gave our seller the certainty needed to navigate a tough transaction and confidently cross the finish line,” said James Rebulllida, Senior Vice President of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, Kyle Peterek, and Daneen Godinet 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 35 offices nationwide, HVS’s hospitality intelligence and extensive expertise will help you achieve the results you want.Media Contact:
Lizzette Casarin
Senior Marketing Director
[email protected]
+1 (720) 244-7620