Hotel Online  Special Report

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Owners of the Woodlands Resort & Conference Center
Retain The Greenwich Group International
to Sell the Resort
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April 8, 2004 - At a time when business and leisure travel is enjoying a rebound, the owners of The Woodlands Resort & Conference Center, located outside of Houston, Texas, plan to sell the property to unlock recently created value. The resort will be sold free and clear of a management contract.
 
The Woodlands Resort is regarded as one of the top meeting resort properties in the United States, and is one of the original conference facilities in the country. It serves as the meeting and recreation heart of The Woodlands, a 27,000-acre master-planned community. The property is 27 miles north of downtown Houston and only 25 minutes from the Houstonís George Bush Intercontinental Airport. The Woodlands Resort is owned by The Woodlands Commercial Properties Company, L.P., a limited partnership of Morgan Stanley and The Rouse Company.

The Woodlands Resort was the 


The Woodlands Resort & Conference Center
2301 N. Millbend
Woodlands, Texas
headquarters for CBS and the NFL Alumni Association during Super Bowl week. It enjoys leases with both Shell Oil Company and ExxonMobil Corporation, which have learning centers at the property. The Woodlands Resort has 440 guest rooms, including 222 new rooms added in a two-phase, $27.8 million expansion completed in 1998 and 2002. The conference center, nestled on a lakeside, includes over 90,000 square feet of high-quality meeting and conference space in 55 dedicated meeting rooms. Recreational activities accessible to hotel guests include the new Forest Oasis Waterscape, two additional pools, a full-service spa and fitness center, a 21-court (four indoor) tennis center and two championship golf courses (The Panther Trail Championship Course and the Tournament Players Course, both former homes of the PGA Tourís Shell Houston Open).

The Greenwich Group International, based in New York, has been retained to sell the property. The Greenwich Group has offices throughout North America, Europe and Austral-Asia.

According to Neil Teplica, the Managing Director of the firm's Hotel Group, "The Woodlands Resort & Conference Center is an IACC-approved conference facility that has tremendous resort amenities. This asset helped to define the entire conference industry in the U.S. and has retained prominence due to its extensive facilities. The Woodlands Resort will appeal to investors of many different profiles. The property did well through the past several years of industry downturn. A buyer can achieve a solid current return plus significant upside through the expansion of its spa facilities as well as repositioning and management opportunities."

The Woodlands community, which has enjoyed rapid growth over the past five years, is a center for business and commerce, with nearly 1,100 office, research, industrial, service, institutional and retail businesses. There are over 20 million square feet of non-residential buildings in The Woodlands, 30,000 residential units and 21 schools, serving a population of 74,000 plus millions more within a half-hour drive. The Woodlands planned community is larger than Reston, VA, and has won many international awards since its founding in 1974. It now ranks as the seventh best-selling master-planned community in the nation in terms of new home sales.

For information about The Woodlands Resort & Conference Center please contact Neil Teplica of The Greenwich Group International at neil.teplica@greenwichgrp.com or 212-754-0100.

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Contact:

Neil Teplica
neil.teplica@greenwichgrp.com
212-754-0100.


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