646-425-5632
15700 John F Kennedy Blvd
Houston, TX 77032
Greenspoint/IAH Airport
HIGHLIGHTS
- Fee simple interest in the 419-room Sheraton North Houston at George Bush Intercontinental Airport (IAH)
- Unencumbered by management and debt and offered at a substantial discount to replacement cost
- Recent performance momentum supports additional upside w/ trailing 3-month RevPAR growth of 8% and 11% for the comp set and subject hotel respectively
- Eligible for relicensing under the Sheraton flag through a long-term franchise agreement with Marriott
- Property was transferred to special servicing in November 2020, followed by the appointment of a court-appointed receiver in April 2021
- Presents a clear repositioning opportunity to close the hotel's occupancy and ADR gap post-renovation w/ RevPAR penetration at ~75% of the comp set
FOR SALE DETAILS
BUILDING DETAILS
PROPERTY NAME
Sheraton North Houston at George Bush
PROPERTY TYPE
Hospitality
TOTAL BUILDING SIZE
-
STORIES
10
ROOM ENTRANCE
Interior
BUILDING CLASS
B
YEAR BUILT
1982
PARKING SPACES
350
LAND DETAILS
LAND ACRES
8.12 AC
LAND SF
353,681 SF
ZONING
NA
APN/PARCEL ID
1143580150002
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646-425-5632
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646-425-5632
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