A Houston Marriott in the Energy Corridor has been sold, with its new owners planning a multimillion-dollar renovation.
HOUSTON — A prominent Energy Corridor hotel has been acquired by a new ownership team, which plans to launch a comprehensive, multimillion-dollar overhaul of the property.
SLTX Capital, a Sugar Land-based real estate investment firm that specializes in hospitality properties, paid an undisclosed amount to acquire the 206-key Houston Marriott Energy Corridor at 16011 Katy Freeway, just south of Interstate 10 and west of state Highway 6.
SLTX Capital partners Ali Momin, Navid Karedia and Shumair Panjwani declined to disclose the terms of the transaction, including who the seller was, during an interview with the Houston Business Journal.
However, Harris Central Appraisal District records said the property and improvements at 16011 Katy Freeway had an appraised value for tax purposes of $16.8 million as of Jan. 1.
HCAD records said the property was previously owned by an entity called Apple Nine Hospitality Ownership Inc., which shares an address with Richmond, Virginia-based Apple Hospitality REIT Inc.
Continue reading this story on the Houston Business Journal’s website.
This story came to us through our partnership with the Houston Business Journal. Keep up with the latest Houston business headlines here.
Got a news tip or story idea? Text it to us at 713-526-1111.