Hotel/Lodging Space For Sale @ 7014 Will Clayton Pkwy

Property Tour and Contact Detail Information: Property tours are available by appointment. Please contact the listing broker to schedule a tour of the property. Investment Highlights: * 61-Room, All Suites, Former Holiday Inn Express & Suites * Holiday Inn Express Flag Expiration - 8/2017 * Choice Approved Comfort Inn & Suites Conversion * *Truly Yours* Renovations Currently Underway * Great Location: Directly Off I-69 and Just East of I-45 * Adjacent to George Bush Intercontinental Airport (IAH) * Historically Strong Submarket of Houston Texas Investment Overview: Property Overview: The Former Holiday Inn Express & Suites Houston Intercontinental East is a 61-room, all suites, interior corridor, and limited service hotel located off I-69 in Houston, Texas. This three-story hotel was built in 2002 as a Hawthorne Inn & Suites and later converted to a Holiday Inn Express. The properties existing franchise agreement will expire in August 2017. Hotel amenities include a fitness center, business center, outdoor pool, breakfast area and meeting facilities. Spacious guest rooms offer amenities such as a TV, free high-speed & wireless internet access, work desk, refrigerator, microwave, coffee maker, hair dryer, and iron. Investment Overview: Choice Hotels has approved the Former Holiday Inn Express as possible Comfort Inn & Suites conversion. Existing ownership has already begun the *Truly Yours* Comfort Inn & Suites conversion renovations which should be considered when valuing the hotel investment. A survey of the immediate hotel market suggest, the all-suites, Comfort Inn & Suites, will average an Occupancy of 62% with an ADR of $89.95 once the property is fully renovated given the markets current condition. This will generate a yearly Room Revenues of $1.241M or a RevPAR of $55.77. The conversion to a Comfort Inn & Suite is expected to cost an estimated $10K per key. Location Overview: Houston, Texas is the fourth most populous city in the nation, and is the largest city in the southern U.S. and Texas. The subject property is less than 4 miles from George Bush Intercontinental Airport and 18 miles from downtown Houston. IAH Airport is Houston’s largest airport and currently ranks fifth in the United States among U.S. airports with scheduled non-stop domestic and international service. In 2014, more than 40 million passengers traveled through IAH and more than 419,205 metric tons of cargo were handled. In May 2015, United Airlines broke ground on a 265,000 square-foot Terminal C expansion that will cost over $244 million and will accommodate more direct flights. The expansion is scheduled for completion by early 2017. Nearby demand generators include: Universal Technical Institute, George Bush Intercontinental Airport and Sam Houston.