Paramount Lodging Advisors Successfully Completes Another Texas Transaction with the Sale of the Courtyard by Marriott in Beaumont, TX
Paramount Lodging Advisors (PLA) has successfully executed the transaction of the Courtyard by Marriott in Beaumont, TX. Managing Director Kami Burnette and Managing Director Adam Montufar represented the seller in the sale.
The 78-room upscale hotel is ideally located on Interstate 10 in Beaumont. This transaction represented the buyer's objective to capitalize on increasing revenues generated from the oil-driven market. Upon completion of the property improvement plan (PIP), the buyer should be well-positioned to penetrate the market.
“The shale boom has generated a surge in Texas oil exports and its impact on employment in the region has generated strong demand for hoteliers. This is a unique opportunity for the new owner to realize a strong yield on their asset,” stated Kami Burnette.
The PLA Texas' office closed its second deal in Beaumont in the past six months and this transaction marks the eighth successful transaction in Texas since last summer.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
