La Quinta Inn & Suites Corpus Christi

HVS Brokerage & Advisory, as the only and unique advisory agency to possession, current sthe alternative to accumulate the 60-key La Quinta Inn & Suites by Wyndham Corpus Christi-North Padre Island, a limited-service lodge asset in Corpus Christi, Texas. The property advantages considerably from its location on Padre Island proximate to the Port of Corpus Christi, which is strategically situated close to main oil and gasoline (O&G) manufacturing areas in the US.

Preferrred Alternative for an Skilled Proprietor/Operator to Enhance Efficiency

• The 60-key depend is taken into account a perfect measurement for an skilled proprietor/operator.

• After finishing the change-of-ownership PIP, new possession can have a clean slate to implement its personal revenue-management technique, with the flexibility to drive room charges larger.

Underperforming Resort Asset with Operational Upside Potential

• Regardless of being in a powerful market, the lodge has underperformed significantly. Per the March 2024 STR Report, the aggressive set operated at an combination RevPAR of $72.06, whereas the lodge solely managed to yield a RevPAR degree of $37.26. If the lodge’s RevPAR matched that of its rivals, it could earn $1,578,114 in rooms income, highlighting important upside potential.

• Per the March 2024 STR Report, the lodge ranked sixth out of six aggressive motels when it comes to occupancy and RevPAR; thus, upside exists for a extra “palms on” proprietor/operator to enhance total efficiency.

• Previous to the COVID-19 pandemic, the lodge constantly maintained a formidable three-year common rooms income of $1,455,826 from 2017 to 2019.

Low cost to Alternative Value and Excessive-Barrier Location

• This chance presents an investor the flexibility to accumulate the property at a value effectively beneath alternative price at $75,000 per key.

• New lodge developments on this space are uncommon and costly, thus limiting the potential for extra competitors.

Conversion Alternative

• Spark by Hilton is a premium economic system lodge model that mixes worth with consistency. It affords friends a dependable and comfy stick with pleasant service, all at an accessible value level. Moreover, Spark by Hilton employs an revolutionary conversion mannequin, making it a pretty funding alternative for lodge homeowners.

• InterContinental Inns Group (IHG) has lately launched Garner Inns, an revolutionary midscale model positioned as an inexpensive, amenity-rich possibility for discerning vacationers. Garner Inns guarantees an distinctive expertise for friends and presents a compelling funding alternative for homeowners in search of larger returns.

Glorious Location Amongst Robust Company and Leisure Demand Mills

• Located on scenic Padre Island, the property is simply minutes from numerous outside sights akin to Padre Island Nationwide Seashore, Mustang Island State Park, Hurricane Alley Waterpark, and the USS Lexington. The property can be a brief distance from the Corpus Christi Museum of Science & Historical past and plenty of different well-liked Corpus Christi sights, such because the Texas State Aquarium, Selena Museum, and Whataburger Subject.

• Moreover, the lodge is a perfect possibility for each enterprise and leisure vacationers, because the property is strategically situated a couple of 30-minute drive from Corpus Christi Worldwide Airport and a 25-minute drive from Downtown Corpus Christi.

• Outstanding contributors to lodging demand embody well-respected establishments akin to Del Mar Faculty, Texas A&M College-Corpus Christi, CHRISTUS Spohn Well being System, Corpus Christi Medical Heart Docs Regional, and the Naval Air Station Corpus Christi.

North Padre Island Enlargement​​​​​​​

• Floor has been damaged on Whitecap North Padre Island, a brand new, 240-acre residential group in Corpus Christi. The event, which can embody over 600 residential heaps, 5 miles of canals, a 26-acre nature protect, and numerous facilities like a city heart, lodge, and yacht membership, goals to boost financial exercise and enhance infrastructure. Designed with coastal up to date structure, the group will characteristic elevated properties with sky decks to supply higher views. The undertaking will reportedly be accomplished in 4 phases over seven years.

• The Metropolis of Corpus Christi, in partnership with Whitecap North Padre Island, launched the Commodores Drive Bridge Challenge in February of this yr with the goal of setting up a brand new, five-lane bridge to facilitate boat site visitors connectivity between the north and south sides of Padre Island. This initiative is anticipated to enhance water circulation and high quality within the canals, and the bridge will probably be designed to accommodate a 14-foot air-draft clearance for boat site visitors. The $9.2-million undertaking started with the institution of a brief bypass roadway alongside Commodores Drive to make sure uninterrupted site visitors move throughout development, alongside upgrades to pavement markings and utilities included within the undertaking scope.

• Development started on “The Lighthouse,” a brand new, 32,000-square-foot growth on North Padre Island, in April 2024 and needs to be accomplished in 18 months. This two-story, mixed-use undertaking by Waymaker Developments will characteristic a group heart with thoughts, physique, and spirituality providers; an occasion heart; a daycare facility; and the Actual Life Church. The bottom degree will provide retail retailers, medical care, a pickleball courtroom, and a playground. The undertaking goals to supply important providers to residents and entice guests, decreasing the necessity to journey off the island.

Developments within the Metropolis of Corpus Christi​​​​​​​

• Texas A&M College-Corpus Christi broke floor on its new Arts and Media Constructing on Might 15, 2024. Funded partially by $45 million from the Texas Legislature, it would provide music, theatre, and dance applications and have state-of-the-art facilities akin to a 325-seat proscenium theatre and a 200-seat recital corridor. The undertaking goals to boost creative expression and group engagement. The constructing’s completion in 2026 guarantees elevated program accreditation and group outreach alternatives.

• Corpus Christi FC Sharks, town’s pre-professional soccer crew, celebrated a big milestone with the groundbreaking of a cutting-edge Multi-Sport Complicated, marking the crew’s first everlasting dwelling since inception. Situated close to Outdated Brownsville Highway and Cliff Maus Drive, the $28.3-million complicated, a collaboration between Subsequent Sports activities Firm and the Metropolis of Corpus Christi, will embody a 5,000-seat soccer stadium, illuminated multi-purpose soccer fields, and a standard-length go-kart observe. The undertaking goals to foster group unity and help for soccer, offering Corpus Christi FC and different sports activities applications with top-tier amenities. Scheduled for completion in 2025, the complicated guarantees financial development and numerous sporting alternatives for town, signaling a brand new period for soccer in Corpus Christi.

• The brand new aquatic heart at Invoice Witt Park in Corpus Christi is predicted to be accomplished by late summer time, providing a spread of facilities akin to a ten-lane lap pool, leisure pool, slides, play items, and spray options, alongside parking, seating areas, and shade constructions. Metropolis leaders emphasize the middle’s significance in assembly group wants, significantly within the Southside space, offering year-round amenities for lap swimming and household enjoyment. With the park already boasting soccer and baseball fields and a hike and bike path, the addition of the aquatic heart is anticipated to additional improve group engagement and pleasure.

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