Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, today announced that it has acquired and will operate the 110-room Courtyard by Marriott Houston Pearland in Texas.
“We continue to seek institutional quality assets, such as the Courtyard by Marriott Houston Pearland, in major markets with numerous demand generators,” said Andy Chopra, founding principal and chief investment officer, Banyan Investment Group. “The hotel benefits from its location within Pearland Town Center, a popular mixed-used development with 937,000 square feet of open space location within the South Houston marketplace that includes 140 specialty stores, 234-unit apartment complex building and more than 50,000 square feet of office space.
The hotel requires minimal capital expenditures, and we are confident the property will achieve its economic objectives with immediate cash flow.” Situated in the Pearland Town Center at 11200 Broadway Street in the “Energy Capital of the World,” the five-story hotel is just 15 minutes from NRG Stadium (home of the NFL’s Houston Texans) and within 20 minutes of the Texas Medical Center, downtown Houston and William P. Hobby International Airport. All guest rooms, which underwent a recent renovation in 2016, contain luxurious linens, pillow-top mattresses, complimentary high-speed Internet access, refrigerator work desk, 32-inch HDTV and microwave. The hotel also provides meeting space for up to 60 people, business center, 24/7 fitness center and outdoor pool. Guests are invited to dine at The Bistro, serving breakfast and dinner daily, or to pick up quick bites and coffee at the hotel Starbucks.
“Home to some of America’s largest corporations, including Philips 66 and Sysco, Houston is well on its way to becoming the third largest city in the United States,” Chopra added. “We appreciate the economic diversity provided by South Houston’s submarkets, and Pearland particularly stood out due to its standing as the fastest growing suburb in one of the fastest growing MSAs in the country.”