houston

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houston

U.S. MarketFlash | Houston CRE Market Shows Resilience in Face of Hurricane Harvey

CBRE Hotels | October 2, 2017

Hurricanes, tropical storms and floods are familiar occurrences in Houston and the surrounding Texas Gulf region; more than eight severe floods/hurricanes have impacted the Houston MSA since 1998. But when Hurricane Harvey struck the region near Rockport, TX on August 25, the Category 4 storm was the strongest to hit the region since 1961, dumping more than 50 inches of rain in a matter of days and causing extensive property damage due to flooding. In addition to its devastation on Greater Houston, Harvey's impact was national in scope as well. Port Houston—the largest U.S. port in foreign tonnage and home to the nation's largest ...

HVS Market Pulse: Houston

J. Carter Allen | February 13, 2017

By J. Carter Allen Houston is a city of DOERS, per the latest ad campaign presented by Chevron and released in advance of Super Bowl LI, held in Houston on February 5, 2017. The ad incites the can-do spirit of a city without limits. A city that is a global leader in energy and healthcare, that consistently ranks near the top for fastest growing major metro areas, and that once put a man on the moon. While the "We choose to go to the Moon" days are gone (but not forgotten), Houston's reputation as a tough, resilient, city of DOERS remains. Nowhere is this more evident than in Downtown Houston. Long known as an office market with very few...

Super Bowl Hotelier Trends & Tips

February 2, 2017

February 2nd, 2017 - While we can't predict which team will take home a win at this week's Big Game, according to Expedia Lodging Partner Services, we do think that Houston hotels stand to score big. When looking at hotel room demand from the two previous game markets (Phoenix and San Francisco), Houston can expect to see big gains in higher average daily rates (ADRs) and revenue per available room (RevPAR), two common performance metrics for hotels. Additionally, Expedia market managers from Phoenix and San Francisco shared key learnings and insights that Houston hoteliers can leverage to maximize their weekend share and shoulder days....

Jeffrey Fuller Appointed General Manager at Royal Sonesta Houston

Royal Sonesta Hotel Houston | July 8, 2014

HOUSTON, TX – July 9, 2014 – Industry veteran Jeffrey Fuller has joined the Royal Sonesta Houston as General Manager. In this capacity, he now helms one of the Bayou City's most exciting, new upscale hotel products. Fresh off a nearly $30-million renovation, the landmark, 485-room property features the largest meeting and event offering – 50,000 square feet – in the Galleria/Uptown area, a premier destination for group, leisure and business travel. Prior to his appointment at the Royal Sonesta Houston, Fuller was employed by John Q. Hammons Hotels & Resorts. Most recently, he was the General Manager of the Embassy Suites Gre...

The Plasencia Group and RM Crowe Announce the Sale of the Houston Marriott West Loop by The Galleria

The Plasencia Group | January 23, 2014

Tampa, Fla. (January 24, 2014) – The Plasencia Group is pleased to announce the sale of the Houston Marriott West Loop by The Galleria, located in Houston, Texas. The firm exclusively represented RM Crowe, the owner of the hotel. This is the second time The Plasencia Group has been engaged to sell the hotel. A joint venture between Clearview Hotel Capital and WHI Real Estate Partners acquired the 301-room hotel from RM Crowe. Marriott International will continue to manage the property. According to Robert Wiemer, Senior Vice President of The Plasencia Group's Southwest Region, "This transaction was completed in record time with both ...

Inland American Real Estate Trust Acquires Two Westin Hotels in Houston for $220 Million

Inland American Lodging Advisor, Inc. | August 29, 2013

Oak Brook, Illinois - August 29, 2013 - Inland American Lodging Group, Inc., a wholly owned subsidiary of Inland American Real Estate Trust, Inc., announced today that it has acquired two Westin hotels located in Houston's Galleria District, for approximately $220 million. The 24-story Westin Galleria includes 487 rooms and over 71,000 square feet of meeting space. The Westin Oaks Houston at the Galleria offers 406 rooms on 21 floors as well as 23,500 square feet of meeting space, including a 4,500-square-foot banquet space overlooking the Houston skyline. "The acquisition of these outstanding properties, the only hotels connected to th...

Midway Acquires the 171-room Four Points by Sheraton Houston West in Texas

CITYCENTRE | August 20, 2013

HOUSTON, TX - August 20, 2013 - Houston-based Midway, a privately owned, fully integrated real estate development and investment firm, has acquired the Four Points by Sheraton Houston West for an undisclosed sum. The 171-room, full-service hotel is located at 10655 Katy Freeway on the southeast corner of the Beltway 8 interchange. Originally built in the early 1980s as the Sheraton Town & Country, the building is one of the last vestiges of the Town & Country Mall complex that was razed and redeveloped by Midway as CITYCENTRE. Construction on the award-winning mixed-use and pedestrian-oriented district began in 2007. The Four Po...

CDC Houston’s Phase I Plan for Houston Springwoods Village Town Center Includes Full-Service Hotel

CDC Houston | August 6, 2013

HOUSTON - August 6, 2013 - CDC Houston, Inc., a subsidiary of Coventry Development Corporation, New York, announced today that the phase one development of Springwoods Village Town Center will include a full-service hotel, luxury apartments, office space and retail shops. Located adjacent to the ExxonMobil Springwoods Village campus, Town Center will be on Town Lake and will include a public plaza on the lakefront to make it a focal point for the Springwoods Village community and the region. Springwoods Village is a $10-billion, 1,800-acre, mixed-use community situated along the west side of Interstate 45 between Springwoods Village Par...

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