LUBBOCK, TX – Paramount Lodging Advisors (PLA) has successfully executed the sale of a Hilton-branded hotel located in SW Lubbock near South Plains Mall. Texas-based Senior Managing Director Kami Burnette and Senior Associate Mason McDavid, along with Principals Bennett Webster and Brent Clemens represented the seller in the transaction.
The full-service 156-key Embassy Suites was built in 1982 and features multiple meeting rooms and a restaurant. The new owners are excited to repurpose the legacy hotel to an alternative use in a growing Texas market, home to one of the state’s largest universities.
“The hotel was sold unencumbered of the Hilton flag and there were limited branding opportunities for the property to remain a hotel,” stated Kami Burnette.
“PLA was able to attract a number of alternative use buyers to participate in the process knowing that a conversion was the highest and best use for the project,” added Mason McDavid.