TownePlace Suites Fort Worth Southwest TCU Area Listed For Sale
CBRE Hotels, as sole and exclusive agent of the owner, has been engaged to offer for sale the fee simple interest in the extended-stay 94-room TownePlace Suites Fort Worth Southwest TCU Area. Located close to downtown Fort Worth, the Hotel is off Southwest Boulevard and International Plaza, just three miles from Texas Christian University. The Property is also in proximity to a high concentration of both corporate and leisure destinations, including Fort Worth Zoo, Fort Worth Stockyards, Fort Worth Convention Center, Dickies Arena and Will Rogers Coliseu. This offering represents a unique opportunity to acquire an institutionally-owned and managed Hotel in a vibrant and fast-growing Fort Worth submarket, available unencumbered of debt and management.
The buyer can develop a customized business plan to enhance their market presence and operational efficiency, leading to substantial revenue and profit growth. By acquiring the property and executing a Property Improvement Plan (PIP), the new owner can maximize earnings by leveraging the hotel’s strategic location and upgraded offerings, resulting in higher profitability and attractive exit capitalization opportunities.
- Institutionally-Owned and Managed Asset, Fee-Simple Real Estate – The TownePlace Suites, constructed in 1998, boasts 94 spacious suites with a variety of guestroom options. The suites are equipped with various features, including a fully-equipped kitchen, a coffee/tea maker, a full size sofa bed, and a well-lit work table with ergonomic chair. In addition, this Hotel offers a multitude of amenities on the property, featuring an outdoor pool, a business center, a fitness center, a convenience store, and 93 complimentary on-site parking spaces. The exceptional location of the Property, coupled with its upgraded features, offers a unique opportunity for a new owner to acquire an institutionally-owned and managed hotel that is only expected to improve its market share and operating performance in future years.
- Prime Location Proximate to Diversified Demand Drivers – The TownePlace Suites is just three miles from Texas Christian University. Spanning 302 acres and located about four miles from downtown Fort Worth, Texas Christian University (TCU) is classified among “R2: Doctoral Universities – High research activity” with around 12,785 student enrollments, as of fall 2023. In addition to TCU, the Hotel is in proximity to multiple leisure demand drivers, including Fort Worth Zoo, Fort Worth Stockyards, Fort Worth Convention Center, Dickies Arena and Will Rogers Coliseu. The Property is also well-connected to the area’s diverse array of restaurants and vibrant nightlife.
- Substantial Operating Efficiency Upside – The Hotel will be delivered unencumbered of management. Because of the current operator’s national scale and allocation of corporate overhead, this project presents substantial upside potential for a new owner. By implementing strategies to optimize housekeeping labor utilization and reduce corporate allocated expenses, the buyer can effectively lower the hotel’s overall expenses. This strategic approach will not only enhance operational efficiency but also contribute to maximizing profitability.
- High Barrier to Entry Market – The increase in cost of debt and stringent regulations has created significant challenges for new hospitality constructions in the Hotel’s submarket. Therefore, the TownePlace Suites presents a unique opportunity to acquire a high-quality branded extended-stay hotel at a significant discount to replacement cost. Additionally, the inclusion of Marriott’s extensive reservation and rewards program, Marriott Bonvoy, boasting over 177 million global members, makes the TownePlace Suites a highly attractive investment opportunity in today’s lodging market.
- Dynamic and Thriving Economic Landscape with Continued Growth – DFW is the fourth largest metro in the U.S. and given the tremendous growth in the area, it is projected to bypass Chicago within the next 10 years. Contributing about one-third of Texas’ GDP, the area’s economy is the most diverse in the state. DFW's central location, affordable living costs, favorable business environment, world-class cultural institutions, advanced healthcare facilities, universities, and extensive infrastructure network draw corporations and job seekers to relocate to the area.
For inquiries visit here.
Categories: Other