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CBRE: Holiday Inn Sale One of a Spate of Hotel Deals in Houston

The sale of the Holiday Inn Express in Northwest Houston is one of several hotel transactions unfolding in the Houston area.

The sale of the Holiday Inn Express in Northwest Houston is one of several hotel transactions unfolding in the Houston area.

HOUSTON – PKRS Management purchased the 125-room Holiday Inn Express & Suites Houston Northwest on Huffmeister Road from Cypress Hotels Inc.

Eric Guerrero, Michael Yu and Rahul Bijlani, of CBRE Hotels in Houston, represented both sides of the deal.

On the trailing twelve months, this sale represents the 20th South Central U.S. hotel transaction for these CBRE Hotels’ professionals in Houston, who have an additional ten transactions under-contract and 23 hotels exclusively listed for sale. Out of the transactions under-contract, three are IHG branded hotels in the Houston area.

“This (Holiday Inn Express) sale points to the trend that investors are continuing to have confidence in the Houston hotel market and based on our current pipeline, we expect to see strong transaction activity in 2017,” said CBRE’s Guerrero.

Feb. 6, 2017 Realty News Report Copyright 2017

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