HVS Brokerage & Advisory, in cooperation with Eric Vincent Guerrero, as the sole and exclusive advisory firm to ownership, presents the opportunity to acquire the 78-key Comfort Inn & Suites Houma, a limited-service hotel asset in Houma, Louisiana.
Houma is centrally positioned among the bayous of Southeast Louisiana, near the Gulf of Mexico; thus, it is a prime location for many oil-and-gas-related operations. The hotel was closed for renovation following severe flooding and damage sustained by Hurricane Ida in September 2021. The hotel reopened on August 29, 2023. The property is in excellent physical condition given the recent $3,600,000 in renovations, resulting in a nominal change-of-ownership property improvement plan (PIP). The asset will be sold without any management encumbrances, offering an investor the opportunity to purchase a fully renovated hotel well below replacement cost.
Excellent Location Among Strong Corporate & Leisure Demand Generators
The property is proximate to several major oil refinery operations including Schlumberger, BP, and Halliburton. Furthermore, Port Fourchon, located just south of Houma, is Louisiana’s southernmost port and serves as the primary support base for the offshore oil and gas (O&G) industry in the Gulf of Mexico region.
The property is also near leisure demand generators, such as Bayou Country Sports Park, Houma-Terrebonne Civic Center, and Amelia Belle (a riverboat casino). Moreover, Southern Louisiana is known as a “Sportsman’s Paradise” given its multitude of outdoor sporting opportunities.
Virtually all aspects of the property have been renovated, inclusive of the guestrooms and public areas, for a total cost of $3,600,000 (or $46,154 per key). The hotel reopened on August 29, 2023.
Per STR, the selected set of competitive hotels registered a RevPAR level of $67.28 for the trailing-twelve-month (TTM) period ending July 2023. If the hotel were to perform at its fair share, assuming a market RevPAR of $67.28, its total revenues would be $1,915,566.
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