6502 Padre Blvd, South Padre Island, TX 78597
The Holiday Inn Express & Suites South Padre Island is presented for sale as a value-add opportunity. The hotel is being offered at $9,850,000 or $95,000 per room. The asset sits on approximately 1.4 acres of land and is in close proximity to the beach. Current ownership is absentee and property is not operated by a third-party management company. This offering presents a significant opportunity for a new investor to acquire a value-add Intercontinental Hotel Group licenses asset and increase top-line revenues via proper revenue and management strategies. New ownership may increase Rate and Occupancy through a management refresh and by repositioning the asset via IHG’s Formula Blue Property Improvement Plan.
The Holiday Inn Express & Suites currently benefits greatly from High-Barriers to entry through sparse development opportunities. Also, South Padre Island is a popular Spring Break destination for college students, Texas residents, and Mexican Nationals. This market has been historically stable, as highlighted by stable revenue performance. Cameron County, South Padre Island and Elon Musk are confident that SpaceX will have its Boca Chica launch facility up and running by late 2018. This will create another demand generator for the city of South Padre Island by adding a 4,000-person amphitheater to view the rocket launch parties.
Holiday Inn Express & Suites South Padre Island is a 104-unit, interior corridor, limited service hotel. The property features convenient onsite amenities such as a 24-hour fitness center, barbecue grills, meeting room, business center, outdoor pool, laundry facilities and wireless high-speed Internet access. All 104 rooms provide conveniences like refrigerators and microwaves, flat-screen televisions, coffee/tea makers, and irons with ironing boards.
South Padre Island is a resort town in Cameron County, Texas. It is part of the Brownsville Harlingen Metropolitan Statistical Area. Situated in South Padre Island, Texas, Holiday Inn Express & Suites South Padre Island is 27 miles northeast of Brownsville South Padre Island International Airport. Vacationers staying at the subject property are only a three-minute walk to the beach and its amenities. Both Sea Turtle, Inc and the Birding and Nature Center are adjacent to the hotel. Tourists can also enjoy horseback riding at the nearby Island Equestrian Center. The Schlitterbahn Beach Water Park is four miles away, and Andy Bowie Park and Parrot Eyes Watersports are also within a 10-minute drive.
Agent for this listing
Senior Associate, National Hospitality Group
Office: (210) 343-7804
Mobile: (956) 251-3282
Fax: (210) 343-7810