HOUSTON, TX, November 26, 2024: HVS Brokerage & Advisory announces the sale of the 62-key Holiday Inn Express & Suites Wharton, located at 10247 Highway 59, Wharton, Texas 77488.
The hotel asset, built in 2013, was purchased by Fortune Hospitality LLC, based in Austin, Texas, from DVD Enterprises Ltd., based in Sugar Land, Texas.
Vikas Desai, President of DVD Enterprises Ltd., commented, “As we continue to grow our portfolio through new development, it was time to sell this legacy asset. Despite some new hotel supply being built in the market and the hotel requiring a large PIP, the HVS team did an excellent job finding a buyer that closed without any re-trades.”
The property, located…
The hotel asset, built in 2013, was purchased by Fortune Hospitality LLC, based in Austin, Texas, from DVD Enterprises Ltd., based in Sugar Land, Texas.
Vikas Desai, President of DVD Enterprises Ltd., commented, “As we continue to grow our portfolio through new development, it was time to sell this legacy asset. Despite some new hotel supply being built in the market and the hotel requiring a large PIP, the HVS team did an excellent job finding a buyer that closed without any re-trades.”
The property, located…
