Business & Finance

HFF Announces Sale of Two-Property Hotel Portfolio in Austin and El Paso, Texas

DALLAS, TX. September 19, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the the sale of a two-property, Marriott-family hotel portfolio totaling 244 rooms in Austin and El Paso, Texas.

The HFF team marketed the properties on behalf of the seller, Bedford Lodging. Condor Hospitality Trust purchased the portfolio.

The portfolio properties are the Residence Inn by Marriott Austin Airport and the Fairfield Inn & Suites by Marriott El Paso Airport hotels. Each hotel features studio and suite-style guestrooms, a lobby lounge with a complimentary breakfast bar, 24-hour sundry shop, conference room, 24-hour business center, outdoor swimming pool and fitness center. The 120-room Residence Inn by Marriott Austin Airport was completed in 2016 and includes an outdoor patio with fire pit and grill. The hotel is at 3201 Caseybridge Court adjacent to Austin-Bergstrom International Airport. Additionally, the Circuit of the Americas motor racing facility, which contains the Austin360Ampitheater, is approximately five miles from the hotel. Completed in 2015, the Fairfield Inn & Suites by Marriott El Paso Airport contains 124 rooms and is located at 611 Edgemere Boulevard adjacent to the El Paso International Airport. The hotel’s proximity to the Highway 375 Loop and Interstate 10 provides access to Fort Bliss, Biggs Air Field and the Medical Center of the Americas.

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 Bedford Lodging

Jeff Blackman launched Bedford Lodging in 2013 to leverage his long-standing industry relationships and expertise in all facets of the lodging business: development, management, asset management, acquisition, due diligence assistance and advisory services. To learn more, visit bedfordlodging.com.

About Condor Hospitality Trust

Condor Hospitality Trust (NYSE American: CDOR) is a publicly traded real estate investment trust that specializes in the ownership of premium-branded, upper midscale and upscale, select service, extended stay, and limited service hotels that are located within the top 100 MSAs in the United States. The Company’s hotels are franchised under premium brands such as Hilton, Marriott, Starwood, IHG, Choice and Wyndham, and operated by third party management companies. Visit condorhospitality.com for more information.

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 November Online Hotel Business Review




{300x250.media}
Feature Focus
Architecture & Design: Authentic, Interactive and Immersive
If there is one dominant trend in the field of hotel architecture and design, it’s that travelers are demanding authentic, immersive and interactive experiences. This is especially true for Millennials but Baby Boomers are seeking out meaningful experiences as well. As a result, the development of immersive travel experiences - winery resorts, culinary resorts, resorts geared toward specific sports enthusiasts - will continue to expand. Another kind of immersive experience is an urban resort – one that provides all the elements you'd expect in a luxury resort, but urbanized. The urban resort hotel is designed as a staging area where the city itself provides all the amenities, and the hotel functions as a kind of sophisticated concierge service. Another trend is a re-thinking of the hotel lobby, which has evolved into an active social hub with flexible spaces for work and play, featuring cafe?s, bars, libraries, computer stations, game rooms, and more. The goal is to make this area as interactive as possible and to bring people together, making the space less of a traditional hotel lobby and more of a contemporary gathering place. This emphasis on the lobby has also had an associated effect on the size of hotel rooms – they are getting smaller. Since most activities are designed to take place in the lobby, there is less time spent in rooms which justifies their smaller design. Finally, the wellness and ecology movements are also having a major impact on design. The industry is actively adopting standards so that new structures are not only environmentally sustainable, but also promote optimum health and well- being for the travelers who will inhabit them. These are a few of the current trends in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.