As the exclusive representative of the Seller, Seth Equities is pleased to present for sale the 131-key Red Roof Inn & Suites near Hobby Airport. Ownership has spent over $600k in CapEx in the last two years to fully renovate the rooms with new FF&E, paint, refinishing bathrooms and adding kitchenettes in about 36 Rooms.
The Red Roof Inn & Suites Hobby Airport presents a unique opportunity for an investor to take advantage of the strong in-place revenue and NOI. The TTM Revenue (Nov 2023) for the property was approximately $1.425M with a NOI exceeding $500k.
Owner Operator Opportunity
Fantastic opportunity for a strong operator to further lean out expenses to boost NOI.
Value Add Potential
The latest STR report indicates that the property has more room to raise TTM ADR by another $3-5 based on the comp set, which will in turn boost the top line revenue as well as RevPar pen. index.
Location
Red Roof Inn & Suites is located less than 2 miles from Houston Hobby Airport and approximately 7 miles from downtown Houston. The airport handled more than 14 million passengers.
The property provides direct access to interstate 45 as well as an access easement to Mosley street, which is shown on the survey/plat.
Houston Hobby Airport
Southwest Airlines Hub: Houston Hobby Airport is a significant hub for Southwest Airlines, with numerous domestic flights connecting to various destinations across the United States. Southwest has a strong presence at this airport.
International Flights: While primarily a domestic airport, Hobby has expanded its international offerings. It accommodates some international flights, particularly to destinations in Mexico and the Caribbean.
Terminal Expansion: The airport has undergone terminal expansions and improvements in recent years to enhance passenger experience and accommodate the increasing number of travelers.
Convenience to Downtown Houston: Located about 7 miles southeast of downtown Houston, Hobby Airport provides a convenient option for travelers heading to and from the city center.
