- Two-Story, 96-Room, Best Western Hotels Dual-Branded, Exterior-Corridor Hotel
- Located within the Victoria MSA about 30 Miles from the Gulf of Mexico
- Easily Accessible and Highly Visible from U.S. Highway 87
- Situated Under 10 Miles from Victoria Regional Airport and Near Victoria’s Largest Employers and Highest Value Businesses
- TTM December 2023 Room Revenues Expected to Exceed $928 Thousand while Maintaining a NOI Over $329 Thousand
As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the Dual Branded SureStay & SureStay Studios By Best Western (‘Hotel’ or ‘Property’) located in Victoria, Texas. The dual-branded Best Western Hotel is offered at $3,800,000 or $39,583 per key.
The SureStay & SureStay Studio by Best Western Victoria is a 96-room, two-story, dual-branded Hotel stationed at 3110 Houston Hwy in Victoria, Texas, just off U.S. Highway 87. Various common area amenities at the Property include an outdoor pool, breakfast area, RV parking, convenience store, and business center.
Victoria, Texas is located 30 miles from the Gulf of Mexico and an equal distance from Corpus Christi, Houston, San Antonio, and Austin. Victoria has a wide range of activities and entertainment venues in proximity to the city. Visitors can enjoy a day at The Texas Zoo (3.2 miles), which is home to a variety of animals from around the world or explore the history and culture of Victoria County through exhibits and displays at the Museum of Coastal Bend. Victoria is also home to the Nave Museum, a contemporary art museum located in a restored 1930s mansion as well as Riverside Park, a scenic sport on the Guadalupe River with walking trails, picnic areas, and playgrounds.
Victoria’s prime location promotes a healthy economy, which is supported by education, health, retail, agriculture, and industry sectors. The cities’ healthy environment for businesses is because of the major highways, Victoria Regional Airport (4.1 miles), railway terminals, Port of Victoria (13.2 miles), and Port of Port Lavaca (27.3 miles), which help local businesses connect to larger economic hubs. The Hotel benefits from its proximity to businesses such as Baker Hughes (3.7 miles), Caterpillar (3.7miles), Dow Chemical (25.7 miles), Formosa Plastics (35.4 miles), Halliburton (4.4 miles), Invista-Koch (10.4 miles), and Performance Food Group (2.2 miles). Room demand can further be attributed to DeTar Hospital and Citizens Medical Center, which are both under five miles from the Property.
The Hotel is expected to reach $928,560 of room revenue and a net operating income of just over $329,000, or 35.5 percent of total revenues, after a 4 percent capital replacement reserve for the trailing twelve-month period ending in December 2023. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR through better revenue management, not only benefiting from increased market share but also higher NOI flow-through.