HVS Brokerage & Advisory Closes Sale of Four Points by Sheraton Houston Intercontinental Airport

HVS Brokerage & Advisory announces the sale of the 123-key Four Points by Sheraton Houston Intercontinental Airport, located at 1450 N. Sam Houston Pkwy East, Houston, Texas 77032.
HOUSTON, TX, November 4, 2022HVS Brokerage & Advisory announces the sale of the 123-key Four Points by Sheraton Houston Intercontinental Airport, located at 1450 N. Sam Houston Pkwy East, Houston, Texas 77032.

The select-service hotel property, built in 2017, was sold via an online auction on Ten-X. It was purchased by Auerbach III Houston-Hospitality I LLC, based in Washington, D.C., from Pari LLC, based in Galveston, Texas. The buyer has secured a long-term franchise license agreement with Marriott and has hired a reputable management company to operate the hotel.
The property benefits from its strategic location along Beltway 8 between Interstate 45 and the Hardy Toll Road, less than five minutes from George Bush Intercontinental Airport (IAH). Demand related to both domestic and international travel has started to return, as illustrated by the rise in year-to-date 2022 passenger numbers. Through September 2022, over 39 million passengers traveled through IAH, reflecting a 25.0% increase over the number of passengers through the same period last year, which was closer to 31 million.
“This was another smooth execution with the Ten-X platform. The hotel suffered from a negative cash flow and poor operational upside, so we had to craft a unique deal story showing the upside. Given the Marriott brand affiliation and deal upside, we received a tremendous response from the market, and an institutional buyer made a strong preemptive offer that was accepted by the seller prior to the Ten-X online auction. We closed the deal quickly, and the buyer has since installed GF Hotels & Resorts as the management company to help turn around operations,” said Eric Guerrero, Managing Director and Partner of HVS Brokerage & Advisory.

HVS Brokerage & Advisory team members Eric GuerreroJames Rebullida, and Fadi Rawashdeh 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. 
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