Holiday Inn Odessa, TX Listed For Sale
CBRE Hotels is soliciting offers to acquire the fee-simple interest in the Holiday Inn in Odessa, Texas. The property is located only 11 miles from Midland International Airport, just across the street from the University of Texas Permian Basin and several restaurant and recreation area. Thanks to its prime location, the 102-room hotel receives business from a diverse population of both business and leisure segments in Odessa-Midland area.
- Increasing Room Revenue Trend – The Holiday Inn has demonstrated continuously increasing revenue trend with Room Revenue and RevPAR in the first eight months of 2024 exceeding the same period in 2023 by 14%.
- Strong Operating Performance – The Holiday Inn Odessa presents a compelling opportunity with robust operational performance in a dynamic market. With an NOI of 26.6% as of July 2024 trailing twelve month period, the hotel offers stable cash flow potential.
- Growing and Diversified Economy – Odessa is a dynamic city at the heart of the Permian Basin, renowned for its pivotal role in the oil and gas industry. This economic powerhouse significantly contributes to the nation’s energy independence, with major companies like Occidental Petroleum investing in innovative projects here. Odessa’s strategic location, robust infrastructure, and access to higher education institutions like the University of Texas Permian Basin foster a thriving business environment. The city’s economic growth is further bolstered by diverse industries, including technology, logistics, and manufacturing, making Odessa a key player in both regional and national economic development.
- Diverse Demand Drivers – The hotel is in proximity to multiple corporates, attractions and colleges; including Saulsbury Ventures, PB Materials Corporate, Cudd Energy Services, Rextac, Schlemeyer Field Airport, Odessa Regional Medical Center, Ellen Noël Art Museum, Ratliff Ranch Golf Links, and Odessa College. It is also within a short distance to Music City Mall, and across the street from the University of Texas Permian Basin.
- The Permian Basin – America’s Energy Powerhouse – The Permian Basin, spanning southwestern Texas and southeastern New Mexico, is a key player in America’s energy sector. Known for its vast oil and gas reserves, it contributes nearly 40% of the nation’s oil and 15% of its natural gas. Cities like Midland and Odessa are central to its operations, driving the U.S. towards energy independence and economic growth. As the country shifts to renewable energy, Odessa remains a hub of opportunity.
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