Austin, TX Hotel Investment Opportunity
Off-Market, Confidential sale.
Owner is stepping down and retiring.
Located in a crazy hot market of Austin, Texas.
The franchise flag is expiring on the hotel and it can be purchased unencumbered with no penalty.
The property has over 250 units, and is running 70% @ $104.
For the YE 2018, the hotel brought in over $7.3 million in room revenue and over $9.7 million in total revenue.
For the 11 months ending 2019, the hotel brought in over $7.5 Million in room revenue and over $9.5 million in total revenue.
Without looking at any numbers, Samsung just offered $25.5m (the hotel sits on a large parcel of land) to demolish and build a new facility.
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.