List Search

15700 John F Kennedy Blvd
Houston, TX 77032 Greenspoint/IAH Airport

Price Upon Request

Hotel For Sale  •  478,990 SF

Property Details

  • Property Type Hotel
  • Total Building Size 478,990 SF
  • Lot Size 8.12 AC
  • Building Class B
  • Year Built 1982
  • Tenancy Single
  • Zoning NA
40 Transit Score
30 Walk Score

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

Amenities

  • Business Center
  • Fitness Center
  • Pool
  • Restaurant
  • Shuttle Service
  • On-Site Retail
  • High Speed Internet Access
  • On-Site Bar
  • Convention Hotel
  • Meeting Event Space
  • Public Access Wifi
  • Smoke-Free
  • Digital key

Public Transportation

AirportDriveWalkDistance
George Bush Intcntl/Houston 4 min - 2.8 mi
William P Hobby 43 min - 27.8 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 350
Type: Surface
Included in Rent: Yes
Joseph Cuomo 646-425-5632 Alchemy Real Estate Advisors, LLC
Joseph Cuomo 646-425-5632 Alchemy Real Estate Advisors, LLC