HVS Brokerage & Advisory introduced the sale of the 57-key Howard Johnson by Wyndham Houma, situated at 105 Lamar Road, Houma, Louisiana 70360.
The property, inbuilt 2008, was bought by Agha Holdings, primarily based in Chatsworth, California, from KAK Enterprises, primarily based in Houma, Louisiana.
Steven Hoang, Principal of KAK Enterprises, commented, “We had been happy to work with the HVS crew on the sale of our lodge. They went the additional mile of their advertising course of to verify our lodge was being seen by not solely these in Louisiana, however by these throughout the nation. After we had chosen the customer, we appreciated the constant suggestions and communication, as we had been first-time sellers working with a first-time purchaser out of California. Matt and Andrew had been capable of present us with reassurance and readability all through the deal that made roadblocks within the escrow course of less complicated to navigate. We recognize their laborious work and would advocate them to anybody contemplating the sale of their lodge or trying to buy their first lodge.”
Having operated because the main lodge in its STR-defined aggressive set for RevPAR development, the Howard Johnson has been capable of capitalize off Houma’s industrially various metropolis, the place over 30 oil and gasoline firms function within the surrounding space, offering contractual enterprise alternatives. Rooms income for this two-story, 57-room lodge has elevated by practically 400% since 2019, thus presenting an awesome alternative, as foreseen by new possession, to amass this well-positioned asset and proceed to outperform the competitors.
“Via our expansive advertising course of, we had been capable of seize a considerable amount of consideration on this deal, principally from out-of-state, first-time patrons who had been able to paying the best value. The priorities we place in every transaction invariably differ primarily based on the wants and motivations of the vendor and the deal itself. On this transaction, we made it a precedence to (1) perceive the background of every first-time purchaser, together with their motivations and skill to shut; (2) serve every celebration by educating and guiding them by every step of the transaction with open and clear communication; and (3) present the customer with a transparent imaginative and prescient and roadmap to shut. We’re honored to have labored with the vendor within the transaction of this lodge and stay up for supporting the customer get hold of success in its funding,” stated Matt Almy, Senior Affiliate of HVS Brokerage & Advisory.
HVS Brokerage & Advisory crew members Matt Almy, Andrew Frosch, Joseph Manuel, Eric Guerrero, and Kyle Peterek participated on this transaction. Eric Guerrero, a licensed Louisiana actual property dealer, served as dealer of document for HVS Brokerage & Advisory.
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