Business & Finance

HFF Announces Sale of Dual-Branded Downtown Austin Hotel

DALLAS, TX. August 16, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the closing of the sale of the Hotel Indigo Austin Downtown – University and Holiday Inn Express Austin Downtown University, a 305-room, dual-branded hotel located in downtown Austin, Texas.

The HFF team marketed the property on behalf of the seller, Journeyman Group. Nimes Real Estate purchased the property unencumbered of an existing management agreement.

Completed in 2016, the hotel comprises the 134-room, full-service Hotel Indigo Austin Downtown – University and the 171-room, select-service Holiday Inn Express Austin Downtown University. Shared amenities include a large outdoor pool, pool bar and lounge and five levels of underground parking. The Hotel Indigo houses the Red River Tavern, 2,830 square feet of meeting space, with the Holiday Inn Express featuring a fitness center, business center, a 310-square-foot meeting room and complimentary breakfast. Situated on .81 acres at 805 Neches Street and 810 Red River Street, the hotel is in Austin’s Red River Cultural District at the corner of Red River and 9th Streets. The hotel is within five blocks of the University of Texas at Austin, Texas State Capital, medical district, Sixth Street entertainment district and the Austin Convention Center.

The HFF investment sales team representing the seller included managing director John Bourret and director Austin Brooks.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.

About Journeyman Group

Headquartered in Austin, Texas, Journeyman Group is a recognized expert in real estate development and construction of quality properties in a variety of settings. Journeyman’s vast experience includes hotels, multi-family, senior living and mixed-use developments. For more information, please visit journeymangroup.com.

About Nimes Real Estate

Nimes Real Estate, whose regional headquarters is located in Austin, is the real estate investment arm of Nimes Capital, a family office investment firm focused on investments in real estate and private operating companies. Led by David Nazarian, the Nimes Real Estate team has over 20 years of experience investing in commercial real estate, including thousands of multi-family units, two million square feet of industrial, and several thousand hotel keys in more than twenty hotels. For more information, visit nimescapital.com/real-estate.html.

About HFF

HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Coming Up In The October Online Hotel Business Review




{300x250.media}
Feature Focus
Revenue Management: Technology and Big Data
Like most businesses, hotels are relying on technology and data to drive almost every area of their operations, but perhaps this is especially true for hotel Revenue Managers. There has been an explosion of technology tools which generate a mountain of data – all in an effort to generate profitable pricing strategies. It falls to Revenue Managers to determine which tools best support their operations and then to integrate them efficiently into their existing systems. Customer Relationship Management, Enterprise Resource Planning, and Online Reputation Management software are basic tools; others include channel managers, benchmark reports, rate shopping tools and review systems, to name a few. The benefits of technology tools which automate large segments of a Revenue Manager’s business are enormous. Freed from the time-consuming process of manual data entry, and having more accurate data available, allows Revenue Managers to focus on analysis, strategies and longer-term decision-making. Still, for most hotels, the amount of data that these tools generate can be overwhelming and so another challenge is to figure out how to effectively utilize it. Not surprisingly, there are some new tech tools that can help to do exactly that. There are cloud-based analytics tools that provide a comprehensive overview of hotel data on powerful, intuitive dashboards. The goal is to generate a clear picture, at any moment in time, of where your hotel is at in terms of the essentials – from benchmarking to pricing to performance – bringing all the disparate streams of data into one collated dashboard. Another goal is to eliminate any data discrepancies between finance systems, PMS, CRM and forecasting systems. The October issue of the Hotel Business Review will address all these important developments and document how some leading hotels are executing their revenue management strategies.