This is a highly sought-after hotel in the market as a value-add investment opportunity. The bank owned, 145,772-square-foot hotel sits on a little over 3 acres and offers 137 extended-stay guest suites on seven floors. Each suite has two rooms and the suites breakdown consists of 17 double-bed guest rooms, 115 king-bed guest rooms, and five suites. Hotel amenities include a designated breakfast area, a 1,511-square-foot meeting/banquet space, a convenience store, meeting rooms, a fitness center, and an outdoor pool with a whirlpool hot tub. Guest room amenities include a full kitchen with a refrigerator, dishwasher, and microwave, a work desk with an ergonomic chair, a living room with a sofa, and a flat-screen television.
An IHOP, Subway, Texas Roadhouse, and other restaurant establishments are within walking distance of the hotel. There are multiple DART transit stops, enabling easy business commuting, and the two major airports in the area are less than a 25-minute and 40-minute drive, respectively, making travel in and out of the city a breeze. Other popular demand generators in the surrounding area include a Golf Club, Stockyards, Health Resources, Zoo, and more.
Locales are expected to see population growth over the next five years that notably exceeds the national rate. The metro is home to several higher educational institutions, including two major universities, providing an educated labor force for the large and diverse employment base. The metro is home to two Fortune 500 companies and many other significant firms that employ over 11,000 individuals and generate an annual $1.3 billion impact on the local economy and attract a large crowd of corporate business to the hotel. We have a huge advantage to implement our experienced and knowledgeable management team to improve and escalate bringing in corporate business.
