La Quinta Inn & Suites Corpus Christi

HVS Brokerage & Advisory, as the only and unique advisory agency to possession, current sthe alternative to amass 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 fuel (O&G) manufacturing areas in america.

Preferrred Alternative for an Skilled Proprietor/Operator to Enhance Efficiency

• The 60-key rely is taken into account a really perfect dimension 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 increased.

Underperforming Lodge Asset with Operational Upside Potential

• Regardless of being in a robust 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 might earn $1,578,114 in rooms income, highlighting vital upside potential.

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

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

Low cost to Substitute Price and Excessive-Barrier Location

• This chance presents an investor the flexibility to amass the property at a worth effectively beneath substitute price at $75,000 per key.

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

Conversion Alternative

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

• InterContinental Lodges Group (IHG) has lately launched Garner Lodges, an progressive midscale model positioned as an inexpensive, amenity-rich possibility for discerning vacationers. Garner Lodges guarantees an distinctive expertise for company and presents a compelling funding alternative for homeowners looking for increased returns.

Wonderful Location Amongst Robust Company and Leisure Demand Mills

• Located on scenic Padre Island, the property is simply minutes from varied out of doors points of interest reminiscent of 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 in style Corpus Christi points of interest, such because the Texas State Aquarium, Selena Museum, and Whataburger Discipline.

• 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.

• Distinguished contributors to lodging demand embody well-respected establishments reminiscent of 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 is able to embody over 600 residential heaps, 5 miles of canals, a 26-acre nature protect, and varied facilities like a city middle, lodge, and yacht membership, goals to reinforce financial exercise and enhance infrastructure. Designed with coastal up to date structure, the group will characteristic elevated houses with sky decks to supply higher views. The challenge 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 Venture in February of this 12 months with the goal of developing 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 can be designed to accommodate a 14-foot air-draft clearance for boat site visitors. The $9.2-million challenge started with the institution of a brief bypass roadway alongside Commodores Drive to make sure uninterrupted site visitors circulate throughout building, alongside upgrades to pavement markings and utilities included within the challenge scope.

• Building started on “The Lighthouse,” a brand new, 32,000-square-foot improvement on North Padre Island, in April 2024 and must be accomplished in 18 months. This two-story, mixed-use challenge by Waymaker Developments will characteristic a group middle with thoughts, physique, and spirituality providers; an occasion middle; a daycare facility; and the Actual Life Church. The bottom degree will provide retail retailers, medical care, a pickleball court docket, and a playground. The challenge goals to offer important providers to residents and entice guests, lowering 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 Could 15, 2024. Funded partially by $45 million from the Texas Legislature, it should provide music, theatre, and dance applications and have state-of-the-art facilities reminiscent of a 325-seat proscenium theatre and a 200-seat recital corridor. The challenge goals to reinforce creative expression and group engagement. The constructing’s completion in 2026 guarantees elevated program accreditation and group outreach alternatives.

• Corpus Christi FC Sharks, the town’s pre-professional soccer crew, celebrated a major milestone with the groundbreaking of a cutting-edge Multi-Sport Advanced, marking the crew’s first everlasting house 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 challenge goals to foster group unity and assist 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 various sporting alternatives for the town, signaling a brand new period for soccer in Corpus Christi.

• The brand new aquatic middle at Invoice Witt Park in Corpus Christi is anticipated to be accomplished by late summer time, providing a variety of facilities reminiscent of a ten-lane lap pool, leisure pool, slides, play items, and spray options, alongside parking, seating areas, and shade buildings. Metropolis leaders emphasize the middle’s significance in assembly group wants, notably 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 middle is anticipated to additional improve group engagement and pleasure.

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