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WoodSpring Suites Lake Jackson Hotel – Image Credit CBRE
CBRE Hotels is seeking buyers for the WoodSpring Suites in Lake Jackson, Texas, highlighting its strategic location and potential for operational improvement.
CBRE Hotels has announced the sale of the WoodSpring Suites in Lake Jackson, Texas. The hotel is off Highway 288/332, providing convenient access to several key locations, including Sea Center Texas, CHI St. Luke’s Health – Brazosport, and major industrial operations such as Dow Texas Operations. This strategic positioning makes the property attractive to both corporate and leisure travelers.
Investment Highlights
The WoodSpring Suites offers several appealing investment opportunities. The hotel comprises 122 all-suite rooms spread across four stories and is reported to be in excellent condition. Minimal capital improvements are required, presenting a cost-effective acquisition for potential buyers.
Currently, the hotel is managed by a third-party company but is available unencumbered by management contracts. This allows potential buyers to implement strategic market repositioning and optimize operations to enhance profitability.
Market Performance and Potential
Despite its strategic location, the WoodSpring Suites is underperforming compared to nearby hotels. Competitors such as Candlewood Suites and Best Western have achieved significantly higher Revenue Per Available Room (RevPAR) figures. This underperformance suggests there is substantial room for improvement under new management.
The hotel’s location near major industrial and corporate entities, including Brand Energy, BASF, and Chevron, provides steady demand from business travelers. Additionally, leisure attractions such as Sea Center Texas, the Lake Jackson Historical Museum, and nearby beaches contribute to a diverse customer base.
Strategic Location Benefits
Lake Jackson is a significant city within Brazoria County, located less than an hour’s drive from Houston and near the Texas Gulf Coast. As part of the Greater Houston metropolitan area, the city benefits from its proximity to one of the largest industrial corridors in the United States. This region is home to global chemical companies like Dow, BASF, and Chevron, supporting a consistent flow of industrial, contractor, and corporate travel.
The Gulf Coast location also enhances the hotel’s appeal to leisure travelers, with easy access to popular destinations such as Jetty Park, Freeport’s Bryan Beach, and Surfside Beach. This combination of business and leisure demand drivers positions the WoodSpring Suites as a potentially lucrative investment.
The sale of the WoodSpring Suites in Lake Jackson presents a unique opportunity for investors looking to capitalize on a property with corporate and leisure appeal. With its strategic location and potential for operational improvements, the hotel is well-positioned to attract diverse travelers. Interested parties are encouraged to consider this property’s potential for growth and profitability.
Inquire at CBRE.
