La Quinta Inns & Suites Austin Airport in Austin, TX Listed For Sale
La Quinta Inns & Suites Austin Airport
CBRE Hotels solicits offers to acquire the fee-simple interest in the La Quinta Inns & Suites Austin, Texas. Minutes away from the fastest-growing airport in the country, Austin-Bergstrom International Airport, the 142-room hotel is located off of State Highway 71 and U.S. Highway 183. Thanks to its ideal location, the hotel receives business from a diverse population of both corporate and leisure segments.
Investment Highlights
- La Quinta Inns & Suites Featuring Minimal PIP – Opportunity to acquire a 142-room, five-story, interior corridor, La Quinta Inns & Suites that has recently gone through a major renovation. Therefore, the property is in excellent condition, requiring minimal capital improvements for a new ownership.
- Strong In-Place Cash Flow – From March to December 2023, the La Quinta posted approximately $3.6 million in total revenues and achieved a net operating income (“NOI”) of $1.9 million, to 53.7%. The hotel’s strong cash flow and potential for increased market share make it an attractive opportunity for a new operator, especially with the expansion of the nearby Austin Airport.
- Minutes to Austin-Bergstrom International Airport and Downtown Austin – The hotel is situated less than 3 miles to Austin-Bergstrom International Airport. In addition, the property is within minutes from Downtown Austin with many tech and financial firms such as Deloitte, EY, TikTok, and more. Tesla Austin Gigafactory is also 12 minutes away from the hotel.
- $6.5B Austin-Bergstrom International Airport Expansion – A $6.5B expansion, originally scheduled to be completed by 2040, has been escalated a full decade earlier, with staged expansions already beginning to keep pace with passenger demand. In 2023 the airport serviced over 22M passengers, a 27.2% increased over the 2019 passenger count.
- Austin’s Rapid Growth Driving Ever Increasing Hotel Revenues – Over 32.6 million visitors flocked to Austin in 2022, contributing to $5.9 billion in annual economic impact from visitor spending. With Austin’s globally recognized music, art and film festivals, including SXSW and Austin City Limits Music Festival, expansive parks, culinary scene, renowned universities, and a diverse culture, Austin has made a name for itself for tourism and hospitality.
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