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15700 John F. Kennedy Blvd Houston, TX 77032

For Sale
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419-room Sheraton near George Bush Intercontinental Airport (IAH).

Source: Joseph Cuomo Agent Joseph Cuomo

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Sheraton Near Houston Airport

The fee simple interest in the 419-room Sheraton North Houston at George Bush Intercontinental Airport (IAH) is available for purchase. The property is offered unencumbered by management and debt, at a discount to replacement cost. A long-term licensing agreement with Marriott allows for maintaining the Sheraton brand. The property was transferred to special servicing in November 2020, and a receiver was appointed in April 2021. Transitioning the asset out of receiver control and completing the Property Improvement Plan (PIP) is expected to improve RevPAR penetration. The competitive set has averaged annual RevPAR gains of 17% over the past two years. Houston is the global energy capital, home to over 4,600 energy companies engaged in traditional oil and gas and the growing renewable energy sector. The broader Houston MSA is expected to see growth in this sector. Houston has a population of more than 7.5 million people, ranking it as the fifth-largest MSA and the second-fastest-growing metropolitan area in the United States. The Houston Bush Airport corridor is undergoing over $4 billion in renovations and modernization aimed at increasing passenger capacity and expanding travel routes. Houston will directly benefit from the simultaneous closures of the Austin and Dallas convention centers in 2025, leaving both markets without competitive convention facilities through 2029.
Location Intelligence

Current Use by Public Records

Hotels

Map

City
Houston
County
Fort Bend
State
Texas
Longitude
-95.3396
Latitude
29.9645

FAQs

What type of property is this?
Hotel - 419-room Sheraton near George Bush Intercontinental Airport (IAH).
Where is this hotel located?
The property is located at 15700 John F. Kennedy Blvd Houston, TX.
What are key features of this property?
This property features: - Offered at a substantial discount to replacement cost, unencumbered by management and debt.; - Strong operational upside in transitioning the asset out of receiver control.; - Ability to maintain the Sheraton brand through a long-term licensing agreement with Marriott.
More about this property
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