Hotel ROI has identified Houston as a premier location for market growth in the next few years. Houston’s success as a city, in large part, is dependent on the energy markets. And after some slight years, energy generationÊis set for a very good run. With plans to grow total visitors to over 20 million by 2018, now is the time to set your property up for the greatest possible returns.
The Houston opportunity
Hospitality stakeholders will have even more opportunity in Houston as hotel brands upgrade in order to compete in the growing market for tourism and convention business. With the oil business set for an upswing, now is the time to capitalize on your asset.
Some key projects:
The $20 million renovation of the Westin Galleria
Brookfield Property Partners’ acquisition of the Houston Doubletree by Hilton; complete renovation to commence
Five major hotels set to open by the fall of 2017: The 172 room Aloft Houston Downtown, the 1,000-room Marriott Marquis Houston, the 223-room Hotel Alessandra, the Hotel ZaZa in Memorial City, and the Le Meridien Downtown
Past valuations and transactions that speak to the current opportunity include:
$161,905 per room total transaction value at the Sheraton North Houston at George Bush Intercontinental ($68 million total) since January 2015
$219,192 per room total transaction value at the Hilton Houston Westchase ($65.1 million) since January 2015
$186,901 per room total transaction value at the DoubleTree by Hilton Houston Intercontinental Airport ($58.5 million) since January 2015
Valuations are expected to grow by 2 per centÊin 2016 and 17 per centÊover the nextÊfour years
Why Attend?Ê
Because, you will be armed with ideas, solutions and actionable insights that will make an immediate impact on your property.ÊWhether you focus on infrastructure investment opportunities or strategies that force you to Òthink and act locallyÓ in targeting specific growth sectors, you can take steps that positively influence your ROI.Ê
Co-located with the Hospitality Law Conference, attendees will get the added benefit of free access intoÊHLC’s programmingÊat Doubletree Suites at Greenway Plaza in Houston on Monday, April 24.
