Candlewood Suites by IHG Development Project Woodway, TX
Candlewood Suites by IHG Development Opportunity in Woodway, TX Submarket
Marketing description
This offering presents the opportunity to acquire the pad-ready development site and a secured InterContinental Hotels Group (IHG) franchise agreement for the development of a Candlewood Suites hotel. The site benefits from excellent visibility directly off U.S. Highway 84 within the affluent Woodway submarket and is steps from the retail and dining options along the Colonnade Parkway corridor. The property is strategically positioned near major corporate demand generators, including L3Harris Technologies, SpaceX McGregor, Caterpillar, Baylor University, and leading regional healthcare facilities. Additionally, the site is conveniently located near local attractions, just minutes from Magnolia Market at the Silos, the Baylor University Sports Complex, and the Downtown Warehouse District, supporting a well-balanced mix of corporate and leisure demand.
Investment highlights
- This opportunity includes both the development site and a secured InterContinental Hotels Group (IHG) franchise agreement for the development of an 85-key Candlewood Suites hotel.
- The site benefits from a highly visible location off U.S. Highway 84 in the affluent Woodway submarket, steps from retail and dining along the Colonnade Parkway commercial corridor.
- Candlewood Suites' lean operating model, with no F&B program/restaurant but rather the Candlewood Cupboard market pantry, delivers strong gross operating profit (GOP) margins. The brand's lower construction cost per key makes it a highly efficient development choice backed by IHG One Rewards' 100M+ members.
- Situated within the well-established Woodway market, the area’s affluent household incomes and healthy commercial environment reinforce rate integrity and help sustain year‑round corporate and leisure lodging demand.
- Nearby companies and entities that generate lodging demand include L3Harris, SpaceX McGregor, Caterpillar, Baylor University, and major regional hospitals.
- The site is proximate to local attractions and minutes from Magnolia Market at the Silos, the Baylor Sports Complex, and the Downtown Warehouse District.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
