Ten-X Auction: March 8, 2021 - March 10, 2021 - Starting Bid: $2,200,000
Prestigious Brand Affiliation with Significant Upside Potential: Between 2017 and 2019, the subject property achieved on an average total room revenue of over $2.85M, and has consistently outperformed the market RevPAR. By completing the comprehensive ‘Forever Young Initiative’ Property Improvement Plan (‘PIP’) as mandated by Hilton, a prospective Buyer should be able to experience significant upside by achieving more than fair share of its market due to a fully renovated product with a 15-year relicense and a highly sought-after brand.
Ongoing Capital Expenditures: The hotel ownership has pridefully maintained the property, investing more than $540K in capital expenditures since 2016. Improvements impacting the guest rooms consist of upgraded air conditioning units, new sleeper sofas, and digital door locks and keys. Additional renovations to both the common areas & building exterior include exterior paint, a new firepit, pool heater and dehumidifier.
Prime Location in a Prominent Submarket: The hotel is located in Hurst, Texas, situated within the Dallas-Fort Worth MSA, the largest MSA in Texas. Positioned between Dallas and Fort Worth, the hotel has an excellent location near the Interstate 820 and Highway 183 interchange, 12 miles from the DFW International Airport and Sundance Square in downtown Fort Worth.
Diverse Demand Generators: Located two minutes from NRH20, a 17-acre water park with over 5.8 million annual visitors, and the North East Mall, a shopping center with approximately 2.1 million square feet, featuring over 135 stores, the property is perfectly positioned for guest to enjoy marquee demand generators in the area. The property is within a 15-mile radius of Six Flags, Hurricane Harbor, Cowboys football, and Rangers baseball stadium. Nearby corporate headquarters include American Airlines, Exxon Mobil Corp, McKesson Corp, and Kimberly-Clark Corp.
The Hampton Inn & Suites by Hilton Brand: With more than 2,200 Hampton Inn (& Suites) by Hilton properties in 19 countries, the brand offers a hotel design experience that is unique from its competitors. Hampton by Hilton is a global category leader that remains simple to build and simple to operate. The property greatly benefits from their Hilton Worldwide Brand Affiliation, which provides a powerful reservation system, and strong brand loyalty created by the popular Hilton Honors program.
Unencumbered Offering: The Property is offered Fee Simple, and unencumbered by management and debt.
The 96-room, four-story Hampton Inn & Suites Dallas - Hurst is conveniently located at the intersection of Texas 183 TEXpress and Precinct Line Rd. The upper-midscale, four-story hotel features an indoor pool, fitness center, business center, meeting spaces, and a picnic area. Guest rooms offer a flat-screen television, microwave, refrigerator, and separate seating area, kitchen, and sofa bed in the suites.
Arlington Entertainment District: The Arlington Entertainment District, located 10 miles from the hotel, contains seven major attractions in the area including, Six Flags Over Texas, Hurricane Harbor, Globe Life Park which is home to the Texas Rangers, the Legends of the Game Museum, the AT&T Stadium where the Dallas Cowboys play, Lincoln Square Mall, and the Arlington Convention Center.
Urban Air Adventure Park: The 28,000 square feet of the adventure park includes their award-winning Trampoline Park, along with the Urban Air Adventure Hub, Tubes Indoor Obstacle Course, Urban Warrior Course, and Indoor Ropes Course, Indoor Climbing Walls, Pro Zone Performance Trampoline Pit, and Sky Rider Indoor Coaster. Located less than a mile from the hotel, the adventure park is undergoing renovations and draws more than 266,000 annual visitors.
The State Fair of Texas: The State Fair of Texas has taken place almost every year since 1886 and generates more than $55 million in food and beverage revenue with over 2.5 million visitors to the fair each year.
NRH20 Family Water Park: The North Richland Hills Family Water Park is conveniently located between Dallas and Fort Worth and ranks number six in the Top Water Parks in the U.S. Being located less than five miles from the hotel, attractions such as the Sidewinder Slide and the Riggamaroll bring in numerous tourists each year.
North East Mall: The North East Mall is equipped with over 135 retail stores and restaurants located in Hurst, Texas, approximately four miles from the hotel. The mall encompasses a total of 2,134,000 square feet.
Fort Worth Stock Show and Rodeo: The 2018 Stock Show drew over 1,248,500 visitors to enjoy the rodeo, livestock shows, and concerts. The annual event is almost a month worth of action, with each weekend holding another specialized event.