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9101 Gulf FwyHouston, TX 77017
TownePlace Suites Houston Hobby Airport
Asset ClassHotel & Hospitality
overview of deal

Overview

The TownePlace Suites Houston Hobby Airport represents a compelling opportunity to acquire a strategically located, extended-stay asset with significant RevPAR growth potential in the thriving Houston metropolitan area. Ideally situated just minutes from William P. Hobby Airport, the property offers convenient access for both business and leisure travelers.

 

Houston’s robust economy, supported by its airports’ $40.6 billion annual economic impact and over 200,000 associated jobs, provides a solid foundation for sustained growth. As part of the Houston Airport System, which handled over 60 million passengers in 2023, Hobby Airport alone contributed approximately $8 billion to the local economy. The hotel’s proximity to key demand drivers such as NASA’s Johnson Space Center, the University of Houston, and Downtown Houston positions it to attract a diverse mix of travelers.

 

Furthermore, with $5 billion in ongoing infrastructure upgrades across Houston’s airports, including Hobby, the region is primed for continued expansion and increased visitor traffic. Combined with Houston’s growing population and rising demand for air travel, these developments enhance the property’s potential to thrive. The TownePlace Suites Houston Hobby Airport is well-positioned to capitalize on these favorable market conditions, offering an attractive option for both short term and extended-stay guests in one of the nation’s most dynamic markets.

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Investment Highlights

  • Strategic Location near William P. Hobby Airport: The Hotel is located just 2.9 miles from William P. Hobby Airport, the second-largest airport serving the Houston metropolitan area. Hobby Airport handles approximately 150 daily flights and welcomed 13.9 million passengers in 2023. The $470 million West Concourse Expansion, a collaborative project between Houston Airports and Southwest Airlines, will add seven new gates for domestic and international flights, with completion scheduled for summer 2027.
  • Economic Hub with Expected Growth: Houston’s economy has experienced strong growth in recent years, with the metro area’s GDP increasing by 5.4% from 2022 to 2023. The job market has also expanded significantly, adding over 108,000 jobs during the same period. Key industries driving this growth include energy, life sciences, manufacturing, and aerospace. Over the 12 months ending in November 2024, the region created an additional 62,500 jobs. Construction activity has accelerated, further reflecting the influx of people and businesses to the area. With both the U.S. and Houston positioned for continued growth in 2025, the region remains a dynamic hub for economic opportunity.
  • Proximity to Key Houston Attractions: The Hotel benefits from its location near popular Houston attractions, including the Houston CBD, Houston Convention Center, the Museum District, Daikin Park (formerly Minute Maid Park), Toyota Center, the University of Houston, Texas Medical Center, NRG Stadium, NASA Johnson Space Center, and the beaches in nearby Galveston, TX. Houston will also be hosting 20 matches for the World Cup in 2026.
  • New Asset with Minor PIP Anticipated: The Hotel was constructed in 2020, and it is likely that Marriott’s Change-of-Ownership will be minor, given the age of the asset.
  • Strong Extended-Stay Brand Affiliation: The Hotel is enhanced by its excellent TownePlace Suites flag and benefits from the award-winning Marriott Bonvoy guest loyalty program.
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9101 Gulf FwyHouston, TX 77017

Sales Team

Dan MillerSenior Vice President

License #: 779007

(972) 559-8000dmiller@hrec.com
Mark RomeSenior Vice President

License #: 17223525

(214) 632-7310mrome@hrec.com
George DavisAssociate(205) 777-1180gdavis@hrec.com
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