HFF Announces Sale of Two-Property Hotel Portfolio in Austin and El Paso, Texas

DALLAS, TX. September 19, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces the the sale of a two-property, Marriott-family hotel portfolio totaling 244 rooms in Austin and El Paso, Texas.

The HFF team marketed the properties on behalf of the seller, Bedford Lodging. Condor Hospitality Trust purchased the portfolio.

The portfolio properties are the Residence Inn by Marriott Austin Airport and the Fairfield Inn & Suites by Marriott El Paso Airport hotels. Each hotel features studio and suite-style guestrooms, a lobby lounge with a complimentary breakfast bar, 24-hour sundry shop, conference room, 24-hour business center, outdoor swimming pool and fitness center. The 120-room Residence Inn by Marriott Austin Airport was completed in 2016 and includes an outdoor patio with fire pit and grill. The hotel is at 3201 Caseybridge Court adjacent to Austin-Bergstrom International Airport. Additionally, the Circuit of the Americas motor racing facility, which contains the Austin360Ampitheater, is approximately five miles from the hotel. Completed in 2015, the Fairfield Inn & Suites by Marriott El Paso Airport contains 124 rooms and is located at 611 Edgemere Boulevard adjacent to the El Paso International Airport. The hotel’s proximity to the Highway 375 Loop and Interstate 10 provides access to Fort Bliss, Biggs Air Field and the Medical Center of the Americas.

The HFF investment sales team representing the seller included managing director John Bourret and director Austin Brooks.

Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp, a Texas licensed real estate broker.

About Bedford Lodging

Jeff Blackman launched Bedford Lodging in 2013 to leverage his long-standing industry relationships and expertise in all facets of the lodging business: development, management, asset management, acquisition, due diligence assistance and advisory services. To learn more, visit bedfordlodging.com.

About Condor Hospitality Trust

Condor Hospitality Trust (NYSE American: CDOR) is a publicly traded real estate investment trust that specializes in the ownership of premium-branded, upper midscale and upscale, select service, extended stay, and limited service hotels that are located within the top 100 MSAs in the United States. The Company’s hotels are franchised under premium brands such as Hilton, Marriott, Starwood, IHG, Choice and Wyndham, and operated by third party management companies. Visit condorhospitality.com for more information.

About HFF

HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). For more information please visit hfflp.com or follow HFF on Twitter @HFF.

Related News

Coming up in January 2018...

Mobile Technology: Relentless Innovation

Technology has become a crucial component in attracting and retaining hotel guests, and the need to enhance a guest’s technology experience is driving a relentless pace of innovation. To meet and exceed guest expectations, 54% of hotels will spend more on technology in 2018, and mobile solutions in particular will top the list of capital investments. Many hotels are integrating mobile booking, mobile keys, mobile payments and mobile check-in into their operations. Other hotels are emphasizing the in-room experience, boosting bandwidth and upgrading flat screen TVs to more easily interface with guest mobile devices. And though not yet mainstream, there are many exciting technology developments on the near horizon. The Internet of Things (loT) is taking form in some places, and can be found in guest room control systems, voice activation systems, and in wearable sensors that can be used for access and payment options. Virtual reality headsets are available at some hotels so guests can enjoy virtual trips to exotic locations or if off-property, preview conference facilities and guest rooms. How long will it be before a hotel employs a fleet of robots for room service, or utilizes a hologram as a concierge, or installs gesture-controlled walls that feature interactive digital displays? Some hotels are already using augmented reality for translation services, or interactive wall maps, or even virtual décor. This pace of innovation is challenging property owners and brands to stay on top of the latest technology trends while still addressing current projects. The January Hotel Business Review will explore what some hotels are doing to maximize their opportunities in the mobile technology space.