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 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 [email protected] or 212-754-0100. |
