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The Hilton Garden Inn Houston Energy Corridor to change hands

Summit Hotel Properties has bought the Energy Corridor property for 36 million dollars, or close to 28 million euros.

Summit Hotel Properties announced the acquisition of the Hilton Garden Inn in the Houston Energy Corridor. The amount of the transaction was for 36 million dollars, or close to 28 million euros. It is the second property under the Hilton Garden Inn brand in the area around Houston to join the portfolio of Summit Hotel Properties.

"We are very pleased with the acquisition of our second property in the Houston market. This high yielding asset in a market with multiple demand generators makes it a perfect addition to our portfolio. We see great opportunity for our asset management team to create additional value through operational improvements and believe this asset will create tremendous near-term and long-term shareholder value," said Dan Hansen, President and CEO of Summit Hotel Properties.

The new owner has signed a management contract with American Liberty Hospitality and plans to renovate different areas of the hotel. The Hilton Garden Inn Houston Energy Corridor opened its doors in 2008 with 190 rooms.
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