HVS Brokerage & Advisory Closes Sale of Hotel Artesia

HVS Brokerage & Advisory announces the sale of the 51-key Hotel Artesia, located in Artesia, New Mexico, 88210.
HOUSTON, TX, January 17, 2024HVS Brokerage & Advisory announces the sale of the 51-key Hotel Artesia, located at 203 North 2nd Street, Artesia, New Mexico, 88210.
The property, built in 2009, was purchased by Chanse Hospitality, based in Clovis, New Mexico, from Santo Petroleum, based in Houston, Texas.
“We appreciated the opportunity to represent the Yates and Chase families in getting the Hotel Artesia sold. Given the hotel's significance to the local community, it was important to the seller that the new ownership group ‘bought in’ to keeping this asset as the premier lodging product in Artesia. Through our firm's extensive relationships, we were able to secure an offer from a local ownership group at the full pricing guidance, before going to the market, and close the transaction in less than 45 days,” said Eric Guerrero, Senior Managing Director, Partner of HVS Brokerage & Advisory.
The property benefits from a central location near the major intersection of U.S. Highways 82 and 285, in the heart of Downtown Artesia. While historic Downtown Artesia has a quaint feel, it offers numerous dining, retail, and entertainment options, a positive for both business and transient guests. Artesia is home to leisure demand generators such as La Fonda Restaurant, The Wellhead Restaurant and Brewpub, and the landmark Derrick Floor Sculpture. Corporate demand generators in the area include EOG Resources, Chase Energy Services, Mack Energy Corporation, the Navajo Refinery (HF Sinclair), Halliburton, ConocoPhillips, and Devon Energy, as well as several smaller production and service companies.
HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh, & Kyle Peterek 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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