Avalon Sai Hotels acquired the Comfort Suites near Texas Medical Center – NRG Stadium in Houston from NKB Investments. Details of the transaction, brokered by HVS Brokerage & Advisory, were not disclosed at this time.
The 55-room hotel features a breakfast dining area, an outdoor pool and whirlpool, a fitness room and 700 square feet of meeting space. The nearby Texas Medical Center employs 106,000 individuals and brings in more than 160,000 visitors every day. In the course of a year it welcomes around 10 million people. Also close by, NRG Park is a 350-acre complex comprised of four facilities: NRG Center, NRG Arena NRG Stadium and NRG Livestock Show & Rodeo. It hosts more than 750 events, including the Offshore Technology Conference, Houston Auto Show and various concerts.
“The Texas Medical Center is the most sought-after hotel submarket in Houston, and rising land costs have made it challenging for hotel development, which has kept the area from being oversupplied,” Eric Guerrero, a managing director at HVS Brokerage & Advisory, said in a statement.