2006 Katy Mills Blvd, Katy, TX 77494
The Best Western Plus – Katy, Texas is offered for sale at $7.5 million, or approximately $96,164 per key. With a minimal remaining PIP, the hotel is priced at a 4.4 times multiplier based upon 2016 year-end Room Revenue. The hotel’s RevPAR index penetration is currently at 87.5 percent of its competitive set, which represents an opportunity for performance improvement by pushing rate. Although the immediate market has been impacted by the slowdown in the Oil & Gas sector, the fundamentals are in place for recovery and recapture of revenues from a strengthening market. Major renovations associated with the current property improvement plan have been made, resulting in minimal required upgrades for the new investor at time of transfer.
MMCC Capital Markets offers attractive financing terms for both SBA and Traditional loan financing, which currently project unlevered returns for an investor of approximately 24.3 percent based upon a five-year hold.
The Best Western Plus Katy is a 78-room, interior corridor, midscale hotel located in Katy Texas, and positioned within the Katy Mall mixed-use shopping and entertainment complex. The three-story hotel was built in 2008 and the property offers great accessibility off the Interstate 10 and its noted “Energy Corridor”. The property features on-site parking, business center, meeting room, fitness center, outdoor pool, spa, laundry facilities, and wireless internet connection in public areas. Room amenities include cable/satellite televisions, coffee/tea makers, microwaves, refrigerators, hairdryers, iron/ironing boards, work desks and high-speed Internet access. The Best Western Plus Katy is ranked by Trip Advisor at #5 out of 20 Katy hotels.
Just 30 minutes from Downtown Houston, the Best Western Plus Katy is located in the midst of Katy Mills Mall’s entertainment and shopping venues. It is in close proximity to various area attractions including Typhoon Texas, Top Golf – Katy, George Bush Park, Bass Pro Outdoor World, the Equestrian Center, and the Merrell Multipurpose Center, which hosts various sporting events throughout the year. The City of Katy’s Boardwalk District has received initial approval for the development of its $150 million boardwalk project, which includes a 55,000 square feet convention center and an 89-acre nature park. Houston’s Energy Corridor encompasses the Katy area and is home to major corporate headquarters such as ConocoPhillips, Igloo, Shell Corporation, Pathfinder Energy, and BP Exploration, to name a few. In 2017, Federal Express opened its largest distribution warehouse in Texas north of Katy, and Amazon’s 10th distribution center arrives supporting over 1,000 employees.
Agent for this listing
Senior Associate, National Hospitality Group
Office: (713) 452-4247
Mobile: (713) 992-3343