24485 I-45 Spring, TX 77380

Property Details for 24485 I-45

Year built

2013

Lot size

1.75 lot acres

Property type

Hospitality properties

Property subtype

Hotels

Description

This 4-story, 85-key Fairfield Inn & Suites hotel in Spring, Texas, presents a compelling investment opportunity. Built in 2013 on a 1.75-acre lot, this fee-simple property boasts a prime location near major employers like ExxonMobil and Hewlett Packard Enterprise, thriving healthcare facilities, and popular attractions such as the Cynthia Woods Mitchell Pavilion and The Woodlands Mall. The hotel benefits from Spring's robust economic growth, driven by a strong corporate presence, expanding healthcare sector, and significant tourism. Its proximity to Houston further enhances its appeal, providing access to major sporting events and the city's extensive business activity. The Fairfield Inn & Suites brand offers a proven track record of success, attracting both business and leisure travelers with its amenities, including complimentary breakfast, flexible workspaces, and free WiFi. Projected RevPAR penetration indices of 105% for 2024 and 106% over the next five years indicate strong revenue potential and operational efficiency. This hotel represents a stable and lucrative investment in a rapidly growing market. The property's location in Montgomery County, Texas, zip code 77380, offers easy access to I-45. The hotel's success is further supported by its proximity to numerous wedding venues, adding to its consistent occupancy rates. This presents a unique chance to acquire a well-established, high-performing asset in a dynamic and expanding region.