Los Angeles-based, vertically integrated real estate investment firm Stockdale Capital Partners has acquired The InterContinental Houston hotel. The hotel was previously owned by MediaStar. The sale price was not disclosed.
The InterContinental Houston is a 354-key hotel built in 2019, located in the Texas Medical Center in Houston. The property is the only luxury hotel with proximity to the TMC, the largest medical complex in the world, according to Stockdale. The InterContinental Houston also sits directly in the path of growth of the TMC, which is expected to double in size over the next decade, with $3 billion of developments in medical and life sciences research facilities already underway.
The hotel’s location provides a diverse mix of corporate and leisure demand drivers that are largely non-cyclical. Additional business will come from ongoing medical and life science research demand generated by the TMC. Close to NRG Stadium, Rice University and the Museum District, the InterContinental Houston’s amenities include Safina Restaurant, The Naturalist Café and Lounge, 18,000 square feet of meeting space, a 24-hour fitness center and an outdoor pool.
“The InterContinental Houston is the only luxury hotel in the TMC area, and we intend to build even further upon its strong track record of success,” Bill Doak, managing director, hospitality for Stockdale Capital Partners, said in a statement. “Stockdale Capital Partners continues to be well-positioned as the travel and hospitality sector makes a strong recovery.”