April 24, 2017
DoubleTree Suites | Greenway Plaza
Hotel ROI has identified Houston as a premier location for market growth in the next few years. Houston's success as a city, in large part, is dependent on the energy markets. And after some slight years, energy generation is set for a very good run. With plans to grow total visitors to over 20 million by 2018, now is the time to set your property up for the greatest possible returns.
The Houston Opportunity
Hospitality stakeholders will have even more opportunity in Houston as hotel brands upgrade in order to compete in the growing market for tourism and convention business. With the oil business set for an upswing, now is the time to capitalize on your asset.
Some key projects:
- The $20 million renovation of the Westin Galleria
- Brookfield Property Partners' acquisition of the Houston Doubletree by Hilton; complete renovation to commence
- Five major hotels set to open by the fall of 2017: The 172 room Aloft Houston Downtown, the 1,000-room Marriott Marquis Houston, the 223-room Hotel Alessandra, the Hotel ZaZa in Memorial City, and the Le Meridien Downtown
Past valuations and transactions that speak to the current opportunity include:
- $161,905 per room total transaction value at the Sheraton North Houston at George Bush Intercontinental ($68 million total) since January 2015
- $219,192 per room total transaction value at the Hilton Houston Westchase ($65.1 million) since January 2015
- $186,901 per room total transaction value at the DoubleTree by Hilton Houston Intercontinental Airport ($58.5 million) since January 2015
- Valuations are expected to grow by 2% in 2016 and 17% over the next 4 years
Because, you will be armed with ideas, solutions and actionable insights that will make an immediate impact on your property. Whether you focus on infrastructure investment opportunities or strategies that force you to “think and act locally” in targeting specific growth sectors, you can take steps that positively influence your ROI.
Co-located with the Hospitality Law Conference, attendees will get the added benefit of free access into HLC's programming on Monday, April 24th.
We have reserved a block of rooms at the DoubleTree by Hilton Hotel Houston. Click here to reserve your room now.
"With the city's energy markets set to experience explosive growth over the next several years and tourism at an all-time high, Houston is rapidly becoming a magnet for hotel-industry investors and developers. The city expects to welcome 20 million annual visitors by 2018, making its selection as a Hotel ROI location a no-brainer." - Bhavesh Patel, AAHOA Chairman