HOUSTON – The Hyatt House Houston Energy Corridor, a 116-room extended-stay hotel located at 15405 Katy Freeway in west Houston, has been sold, according to CBRE.
Energy Corridor Hotels LLC, a Houston-based firm, purchased the property from Driftwood Hospitality, a Florida-based company, for an undisclosed sum.
CBRE representatives Michael Yu, Rahul Bijlani and Agrama Mannapperuma, working with Ten-X Commercial through a managed bid process, represented both the seller and the buyer in the transaction. Energy Corridor Hotels LLC is led by Jay Patel.
“We received strong interest from buyers on this sale. The Houston market is recovering as the energy sector improves,” said Michael Yu. “Year to date in 2018, we’ve closed 19 hotel sales, five of which were in the Houston area, and several more transactions are under contract to close soon.”
CBRE Hotels consists of more than 385 hospitality professionals operating from 60 offices worldwide, offering brokerage, advisory and asset services to the lodging industry.