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Staybridge Suites Houston I-10 West – Image Credit IHG Hotels & Resorts
HVS Brokerage & Advisory has completed the sale of the 82-room Staybridge Suites Houston I-10 West – Beltway 8 to Prisha Hotels LLC.
The Staybridge Suites Houston I-10 West – Beltway 8, an 82-room hotel located at 3251 West Sam Houston Parkway North in Houston, Texas, has been sold. The transaction was managed by HVS Brokerage & Advisory, with Prisha Hotels LLC, based in Beaumont, Texas, acquiring the property from Noreen Enterprises LLC, which is based in Houston.
The hotel, built in 2014, is strategically located along the Sam Houston Tollway, a major route connecting Interstate 10 and U.S. Highway 290. This location places the property approximately six miles from Houston’s Energy Corridor and four miles from Memorial City, both known for concentrations of corporate offices, including companies in the oil and gas sector such as BP Energy Company and Shell Oil Company.
The sale process, managed by HVS, involved listing the property and generating interest from multiple potential buyers, including out-of-state parties. The transaction was completed with a buyer who had previously worked with HVS and was involved in a 1031 exchange, enabling a swift, ahead-of-schedule closing.
Both corporate and leisure demand generators support the area surrounding the hotel. Corporate entities in the vicinity include Claymoore Business Park, West Belt Business Park, and Town & Country Business Park, among others. Leisure attractions include Baseball USA Park, Sam Houston Race Park, Memorial City Mall, and CityCentre Plaza.
HVS Brokerage & Advisory’s team, including Eric Guererro, James Rebullida, Kyle Peterek, Fadi Rawashdeh, and Daneen Godinet, facilitated the transaction. The sale is part of Noreen Enterprises LLC’s strategy to exit the hospitality industry, despite current market challenges gradually. The new ownership by Prisha Hotels LLC is expected to bring changes to the property, potentially enhancing its market position.
