Beaumont, TX – Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Fairfield Inn & Suites in Beaumont, TX. Managing Director Kami Burnette and Managing Director Adam Montufar represented the seller in the transaction.
The 74-room upper-midscale hotel was ideally located on Interstate 10 in Beaumont. The buyer was looking to capitalize on increasing revenues generated from the oil-driven market and substantially supplement the cash flow of their existing hotel portfolio.
“Post Hurricane Harvey, the increasing commodities pricing is stabilizing the region and have presented an opportunity for the new owner to realize a strong yield on their asset,” stated Kami Burnette.
PLA Texas’ office is continuing to grow with this transaction marking the seventh successful transaction in the last twelve months.