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Holiday Inn Express & Suites Corpus Christi North – Image Credit HVS
The Holiday Inn Express & Suites Corpus Christi North is available for acquisition at a reduced price of $6,900,000, offering a strategic investment opportunity due to its prime location and recent renovations.
HVS Brokerage & Advisory is the exclusive advisor for the sale of the Holiday Inn Express & Suites Corpus Christi North. This 64-key hotel is strategically located near the Port of Corpus Christi, a vital hub for the U.S. oil and gas sectors. The property’s asking price has been reduced to $6,900,000, which translates to approximately $108,000 per key.
Property Details and Renovations
The hotel has undergone significant renovations following the implementation of the Formula Blue 2.0 design scheme over the past two years. These updates have positioned the hotel competitively in the market, evidenced by a strong average annual revenue of $1,895,618 since its opening in June 2011. According to December 2024 STR data, the hotel leads in revenue per available room (RevPAR) among its local competitors, with a penetration index of 127.8%.
Investment Potential
The Holiday Inn Express & Suites presents an ideal opportunity for an experienced owner/operator to enhance performance and net operating income (NOI). The current management approach is relatively hands-off, with expenses on the higher side compared to similar properties. Strategic expense management and increased on-property oversight could potentially increase profitability.
Location and Local Development
Located near I-37 and within a three-mile radius of Corpus Christi International Airport, the hotel benefits from both commercial and leisure traffic. Nearby attractions include Padre Island, Mustang Island, and the Texas State Aquarium, among others. The area is also home to significant institutions, such as Texas A&M University-Corpus Christi and the Naval Air Station Corpus Christi, which contribute to the hotel’s customer base.
Recent developments in Corpus Christi, such as the groundbreaking of a new Arts and Media Building at Texas A&M University-Corpus Christi and a multi-sport complex for the Corpus Christi FC Sharks, signal ongoing growth and increased visitor traffic, which could positively impact the hotel’s business.
Investment Sales Contacts
The Holiday Inn Express & Suites Corpus Christi North presents a promising investment opportunity, thanks to its strategic location, recent upgrades, and potential for enhanced financial performance under more hands-on management. Interested parties should contact Andrew Frosch for more details on this investment opportunity.
