Listed by Alchemy Real Estate Advisors
Unpriced
Receiver Sale | DoubleTree Intercontinental Airport Houston
Details
Property Type Retail, Hospitality
Sub Type Hotel
Square Footage 215,879
Keys 313
Year Built 1980
Year Renovated 2005
Stories 6
Acreage 7.300
Ground Lease No
DoubleTree Intercontinental Airport Houston
Marketing description
- Fee simple interest in the 313-room DoubleTree by Hilton at Houston’s George Bush Intercontinental Airport (IAH)
- Offered through a court-appointed receivership sale and traditional marketing process
- Property was transferred to special servicing in June 2020, followed by the appointment of a court-appointed receiver in July 2020
- Unencumbered by management and debt, and offered at a substantial discount to replacement cost
- Eligible for relicensing under the DoubleTree flag through a long-term franchise agreement with Hilton
- New ownership can unlock meaningful upside through operational normalization and more stable management following the transition from court-appointed receivership
- Presents a clear repositioning opportunity to close the hotel’s rate gap post-renovation, with current ADR penetration at ~91% of the comp set
- Recent performance momentum supports additional upside, with trailing 3-month RevPAR growth of ~31% and ~13% for the comp set and subject hotel, respectively
- Benefits from a constrained George Bush Airport submarket pipeline, with no new full-service hotel supply approved or under construction
- 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 infrastructure 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
- Strategically located along the George Bush Intercontinental Airport corridor, ~2.5 miles from IAH with airport shuttle service, capturing transient, airline crew, park-and-fly, group, and corporate demand
- IAH is one of Houston’s strongest lodging demand drivers, serving 48+ million passengers in 2025, including a record 12.4 million international passengers, across 26 passenger airlines and 189 nonstop destinations
- IAH’s first-ever nonstop Houston-Rome service via ITA Airways launched in May 2026, expanding international connectivity and adding incremental business and leisure demand to the airport corridor
- Benefits from continued investment at IAH, including the ~$2.6 billion Terminal B transformation, new gates, expanded passenger facilities, 155,000+ square feet of concessions, and a new flagship United Club
- Near World Houston International Business Center, a 44-building, ~3.8 million-square-foot industrial/flex business park supporting durable weekday demand
- Positioned within the North Houston corporate corridor, with efficient access to major corporate campuses including ExxonMobil’s 385-acre global headquarters, and Hewlett Packard Enterprise’s world headquarters
- Benefits from major northeast Houston growth catalysts, including Generation Park, a 4,300-acre master-planned district where Eli Lilly is developing a $6.5 billion pharmaceutical manufacturing facility expected to create 615 permanent jobs and 4,000 construction jobs
Listing Contacts
Listed by Alchemy Real Estate Advisors
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