A multimillion-dollar renovation is planned for the 162-room extended-stay hotel after the 2026 World Cup.
HOUSTON — A Hilton-branded hotel a block from The Galleria mall has found a new owner.
Houston-based Partners Capital, the investment arm of Partners Real Estate, paid an undisclosed amount to acquire the Homewood Suites by Hilton Houston Galleria, a 162-room extended-stay hotel built in 2006. The hotel is at 2950 Sage Road.
“This acquisition represents a tremendous value-add opportunity within Houston’s most sought-after submarket,” Adam Lair, managing director of hospitality investments, said in a statement. “The opportunity to acquire a premier Hilton flag in our backyard was incredibly appealing. Uptown Houston’s high barriers to entry, combined with the market’s recent growth and tailwinds from the World Cup and Republican Convention, makes this an attractive acquisition for our investors.”
As part of the sale, Partners Capital said Hilton will award a maximum 15-year licensing term.
Following the World Cup next year, Partners Capital will launch a multimillion-dollar renovation of the hotel.
This story came to us through our partnership with the Houston Business Journal. Keep up with the latest Houston business headlines here.