HVS Brokerage & Advisory announced the sale of the 82-room Hampton Inn & Suites by Hilton Houston North IAH Airport, located at 707 North Sam Houston Parkway East, Houston, Texas 77060.

Built in 2015, the property was purchased by Newark, Delaware-based RVS Hospitality Group LLC from Houston, Texas-based XE Hospitality.

Amir Ali Zindani, Director of XE Hospitality, commented, “We are grateful for the efforts of the HVS team to sell our hotel. Due to the overall weakness of the Houston market, we did not receive many offers through traditional marketing methods. The HVS team proposed an online auction through Ten-X, which resulted in a competitive process and secured a buyer with a 10% non-refundable deposit, allowing the auction to close early.”

The property benefits from its strategic location between Interstate 45 and the Hardy Toll Road, a convenient three miles from George Bush Intercontinental Airport (IAH), close to a variety of corporate and leisure attractions including Haliburton, Baker Hughes, Crane Worldwide Logistics Headquarters, Houston Aquarium & Animal Adventure, Deerbrook Mall, The Woodlands Mall, Hurricane Harbor Splashtown Waterpark, Rockstar Energy Bike Park and Sam Houston Race Park.

“We conducted a highly competitive auction process where we secured over 200 confidentiality agreements and more than 15 approved bidders. There was strong bidding activity at the auction and the property sold to a first-time out-of-state hotel investor at 117% of the reserve price. It was a pleasure to work with Ten-X to successfully sell this hotel,” said James Rebullida, Vice President of HVS Brokerage & Advisory.

HVS Brokerage & Advisory team members Eric Guerrero, James Rebullida, Fadi Rawashdeh and Kyle Peterek participated in this transaction.