February 3, 2017
The 125-room Holiday Inn Express & Suites Houston Northwest sold to PKRS Management LLC. Eric Guerrero, Michael Yu and Rahul Bijlani of CBRE Hotels brokered the transaction between the buyer and seller Cypress Hotels Inc.
The sales price for the asset was not disclosed, but the Harris Central Appraisal District Valued the 2015-built hotel at $5.2 million.
The hotel, at 10520 Huffmeister Rd., is close to North Cypress Medical Center. It is also one of the newer Holiday Inn Express & Suites to open in Houston. “This was one of the best constructed Holiday Inn Express & Suites that our family has seen. We were attracted to the deal because of the potential upside from revenue growth,” said Jack Chen with PKRS Management.
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