The property, built in 1999, was purchased by Timon Bay Hospitality LLC, based in Irving, Texas, from Ranjit & Gita LLC, based in Kingsville, Texas.
Kamlesh Bhikha, Principal of Ranjit & Gita LLC, commented, “Selling our hotel was a significant decision, and Andrew and the HVS team were outstanding partners throughout the process. Their market knowledge, attention to detail, and commitment to our goals gave us confidence every step of the way. They worked tirelessly to position the property, connect with the right buyers, and guide the transaction to a successful closing. We couldn't be happier with the outcome and truly appreciate their expertise and dedication.”
The property is favorably located between U.S. Highway 181 and North Beach, offering easy access to multiple demand generators in the area, such as the USS Lexington Aircraft Carrier Museum, Texas State Aquarium, Hilliard Center, Whataburger Field, and the Corpus Christi Museum of Science and History. The hotel benefits significantly from its proximity to the Port of Corpus Christi, as well as the presence of several major refineries and chemical plants nearby, including Flint Hills Resources, Valero, Citgo, and Occidental Petroleum, which provide steady business transient demand. Situated about a block west of North Beach, guests can easily walk to the beach. Additionally, the property is a ten-minute drive from Downtown Corpus Christi and a 20-minute drive from Corpus Christi International Airport.
“Our targeted marketing efforts for the Knights Inn in Corpus Christi successfully connected the property with a motivated buyer seeking to establish a presence in the market. By positioning the hotel’s investment potential and leveraging our relationships with active hotel investors, we were able to generate interest and ultimately bring the transaction to a successful closing. We’re pleased to have delivered a positive outcome for our client and successfully closed another hotel sale in the Corpus Christi market,” said Andrew Frosch, Managing Director of HVS Brokerage & Advisory.
HVS Brokerage & Advisory team members Andrew Frosch, Kyle Peterek, Fadi Rawashdeh, 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