The property is located off Highway 82, nestled among Texas Tech University, South Plains Mall, and United Supermarkets Arena, Lubbock Christian University, UMC Health System, and several restaurants and recreation area.
For most U.S. hotel owners and operators, one of the major challenges in 2023 has been the need to control expenses amidst slowing revenue growth. Through September of 2023, the properties in CBRE's monthly survey of hotel operating statements have seen their total operating revenues increase by 7.4% year-over-year, while total operating expenses grew by 10.0% during the same period. The net result was a decline in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of 0.2%.
The property opened its doors in early 2021 following a significant refurbishment before gaining recognition as Australia's sole entry in Condé Nast Traveller's 'The Hot List 2021 - Best New Hotels' worldwide.
The hotel sits on a 9,448sqm site and consists of 214 keys across the configurations of 181 hotel rooms, 30 dual key apartments, two suites and one penthouse.
Minutes away from the fastest-growing airport in the country, Austin-Bergstrom International Airport, the 142-room hotel is located off of State Highway 71 and U.S. Highway 183
The Property is located along Interstate 94 west of Milwaukee within the Lake Country of Waukesha County. The Hotel was comprehensively renovated in 2018 and is an attractive option for leisure, corporate and group customers with a variety of amenities and more than 40,000 square feet of superior indoor and outdoor meeting and event space.
Located off Interstate 880 and close to Tesla Fremont Gigafactory, HPE, Seagate, Western Digital, Amazon Warehouse, and the Pacific Commons Shopping Center, the 148-room hotel receives business from a diverse population of both corporate and leisure segments.
Hotel demand fell 1.6% in December, while short-term rental demand rose 4.3%. Short-term rentals now represent roughly 18.6% of industry-wide market share, up from 15.2% prior to the pandemic.
This offering is an exceptional opportunity to acquire an irreplaceable all suite resort asset on a sprawling 20-acre site with various value-add opportunities at a fraction of replacement cost.
The 132-room hotel is located off Interstate 35, near Oracle Austin Campus, Google, and Meta in Austin, one of the fastest growing cities in the nation, and one of the best-managed cities in Texas.