La Quinta Inn & Suites Corpus Christi

HVS Brokerage & Advisory announces the sale of the 60-key La Quinta Inn & Suites Corpus Christi – North Padre Island, located at 14430 South Padre Island Drive, Corpus Christi, Texas 78418.
 
The 2006-built property was purchased by Mr. Inderjit Randhawa, based in San Antonio, Texas, from South Texas Hotels, LLP, based in Corpus Christi, Texas.
 
Mr. Baldev Bhakta, Principal of South Texas Hotels, commented, “It was a pleasure working with the HVS team on this transaction. Their deep understanding of the relationship between the asset, pricing, and local market dynamics was evident throughout the process. Their expertise shone through as they carried out a thorough and strategic marketing campaign, ultimately leading to a successful sale to a local buyer group.”
 
The property benefits significantly from its location on Padre Island and proximity to the Port of Corpus Christi, which is strategically located near major oil and gas (O&G) production areas in the United States, making it a premier logistics partner and prime gateway for a secure and efficient supply of energy to the world, including growing markets in Latin America, Europe, and Asia. With several large refineries and chemical plants in the area, the Port of Corpus Christi is a major crude-oil refinery hub that handles the top petroleum commodities, creating significant demand for hotels in the region. Additionally, leisure demand generators include the area beaches, the Whataburger Field, the Texas State Aquarium, the USS Lexington Museum on the Bay, Selena Museum, and the Art Museum of South Texas. Special events also attract visitors during key weekends, such as the Ziegfest music festival and the Texas Jazz Festival.
 
“By combining our deep understanding of the local market with a targeted marketing strategy, we were able to connect with a local buyer seeking to expand his hotel portfolio through the acquisition of the La Quinta Inn & Suites North Padre Island in Corpus Christi. Throughout the process, we uncovered opportunities that aligned closely with the buyer’s objectives for growth and investment diversification. We are proud to have delivered a successful outcome for a seller we have known for many years, and we’re excited to support the buyer as he contributes to the continued growth of the region’s hospitality sector with a newly renovated hotel,” said Andrew Frosch, Managing Director of HVS Brokerage & Advisory.
 
HVS Brokerage & Advisory team members Andrew Frosch, Kyle Peterek, Fadi Rawashdeh, and Daneen Godinet participated in this transaction.