Listed by Alchemy Real Estate Advisors
Unpriced
Crowne Plaza Houston Med Ctr-Galleria
Details
Property Type Retail, Hospitality
Sub Type Hotel
Square Footage 335,718
Keys 354
Year Built 1984
Year Renovated 2022
Stories 18
Acreage 2.590
Ground Lease No
Crowne Plaza Houston Med Ctr-Galleria Area, TX
Marketing description
- Fee simple interest in the lender-owned, 353-key Crowne Plaza Houston Medical Center–Galleria Area
- Upscale full-service hotel featuring 12,000 square feet of flexible meeting space across 11 venues
- Offered at a substantial discount to replacement cost, unencumbered by debt and management
- Eligible for relicensing under the Crowne Plaza flag through a new long-term franchise agreement with IHG
- Nearly $6.0 million in renovations completed since 2023, materially reducing remaining PIP scope and near-term capital requirements
- This total excludes FF&E for all 353 guestrooms and common areas purchased by the defaulting borrower
- The lender has also commissioned a comprehensive modernization of all five elevators, including the service elevator, which is currently underway
- Opportunity to capitalize on recent renovations and improve performance through revenue management, refined segmentation, and expense optimization following the transition
- Benefits from limited Medical Center/Galleria new supply pipeline concentrated in luxury product, supporting rate growth with limited direct competition
- Achieved nearly 28% trailing 3-month RevPAR growth and over 12% trailing 12-month RevPAR growth, underscoring strengthening fundamentals and positive operating momentum
- Houston, the nation’s fifth-most populous metro with ~7.8 million residents, supports broad-based lodging demand
- Houston generates durable year-round corporate travel as a leading global energy hub with 4,700+ energy-related companies
- Houston’s deep corporate base, including 25 Fortune 500 headquarters in Harris County, further drives business demand
- Houston’s airports served 62+ million passengers in 2025, while Bush Intercontinental recorded all-time-high international traffic, underscoring Houston’s strong fly-in demand base
- Major airport investment, including the ~$2.6 billion IAH Terminal B transformation and $470 million Hobby expansion, will further strengthen the city’s long-term connectivity
- Houston is accelerating citywide convention demand, with 2026 definite room nights pacing almost 19% ahead of 2025 and at 118% of target, while 2027 and 2028 are tracking approximately 69% and 120% ahead year over year, respectively
- The fully funded $1.4 billion GRB expansion will strengthen long-term citywide demand with a new 700,000-square-foot GRB South facility and direct Toyota Center connectivity
- Continued diversification through Apple, NVIDIA, and Eli Lilly is expanding advanced manufacturing, technology, and life sciences demand
- Additional demand catalysts include convention district investment, $5+ billion in Texas Medical Center expansions, and Houston’s role as a host city for seven FIFA World Cup 2026 matches
Investment highlights
- High-visibility I-69/US-59 frontage in the River Oaks/Greenway Plaza-Upper Kirby corridor, with exposure to approximately 302,000 vehicles per day and direct Inner Loop access
- Adjacent to River Oaks and Upper Kirby, two of Houston’s most affluent residential and lifestyle corridors
- Immediate access to Greenway Plaza, a 53-acre, 4.5 million-square-foot business campus now poised for reinvestment and renewed leasing momentum under new ownership
- Short drive to Uptown/Galleria, one of the nation’s largest business districts outside a traditional CBD, encompassing nearly 29 million square feet of office space and approximately 2,000 companies
- Minutes from The Galleria, a 2.4 million-square-foot retail, dining, and entertainment destination that draws 30+ million annual visitors and reinforces the area’s year-round leisure appeal
- Poised to benefit from a $270 million Upper Kirby mixed-use development featuring a 38-story residential tower and boutique office space
- Near The RO (“Row”), a $400+ million, 17-acre mixed-use development by Transwestern adding Class AA office, luxury residential, multifamily, and curated retail, reinforcing sustained capital investment and density in the immediate trade area
- Captures corporate, retail, medical, and convention demand with convenient access to Downtown, the George R. Brown Convention Center, NRG Park, the Texas Medical Center, and other Inner Loop demand drivers
Listing Contacts
Listed by Alchemy Real Estate Advisors
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$--
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
