QUALITY INN PASADENA HOUSTON
Acquired 141 rooms 8 story tower and 2 storey block from the golden bank based in Houston Texas.
Hotel was almost shut down and trading with only 20 rooms. The hotel is located in extremely busy industrial sector, primarily surrounded by chemical plants and refineries. A complete remodelling worth $3.6 m was carried out and opened the hotel as Quality Inn Pasadena Texas in Dec 2015. Currently, the hotel is trading extremely well after opening with it been a preferred hotel for port of Houston, refineries and chemical plants.
Annual revenue has grown from 200k a year to 3m plus for the year 2017. The hotel is currently appraised for $10 m.