{"id":1004111692,"date":"2015-01-22T07:58:35","date_gmt":"2015-01-22T15:58:35","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004111692"},"modified":"2022-12-09T00:52:57","modified_gmt":"2022-12-09T08:52:57","slug":"hei-hotels-resorts-trades-aloft-houston-galleria-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hei-hotels-resorts-trades-aloft-houston-galleria-hotel\/","title":{"rendered":"HEI Hotels &amp; Resorts Trades Aloft Houston Galleria Hotel"},"content":{"rendered":"<p><i>By Scott Baltic, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Aloft.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004111694\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hei-hotels-resorts-trades-aloft-houston-galleria-hotel\/aloft-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Aloft.jpg\" data-orig-size=\"1024,1240\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Aloft\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Aloft.jpg?w=846\" class=\"alignright size-medium wp-image-1004111694\" alt=\"Aloft\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Aloft.jpg\" width=\"247\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Aloft.jpg 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Aloft.jpg?resize=248,300 248w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Aloft.jpg?resize=768,930 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Aloft.jpg?resize=846,1024 846w\" sizes=\"auto, (max-width: 247px) 100vw, 247px\" \/><\/a><\/i><\/p>\n<p>HEI Hotels &amp; Resorts, of Norwalk, Conn., has sold the 152-key Aloft Houston Galleria hotel, it was announced Tuesday by HFF, which represented HEI in the sale. The buyer and price were not disclosed. As of press time, HEI had not responded to <i>Commercial Property Executive<\/i>\u2019s request for further information.<\/p>\n<p>But according to the Houston Business Journal,\u00a0Westpark I, a Melville, New York-based group bought the property.<\/p>\n<p>The transaction closed on Dec. 22, an HFF spokesperson told <i>CPE<\/i>.<\/p>\n<p>HEI will continue to manage the select-service boutique property, which is sited on an approximately 1-acre parcel at 5415 Westheimer Road in Houston\u2019s Galleria\/Uptown area a few blocks from the Galleria Mall and less than a mile from the West Loop (I-610).<\/p>\n<p>The five-story Aloft by Starwood\u2013branded hotel was completed in 2009 and has 112 king, 30 double queen, five accessible king and five accessible queen guest rooms. \u00a0Aloft Houston Downtown is\u00a0expected to open in 2016, according to the HBJ.<\/p>\n<p>The hotel is pet-friendly and provides a lounge with pool table, an indoor heated pool, a 24-hour fitness center, 500 square feet of meeting space, and in-room guest terminals for Internet access. It also features re:fuel by Aloft, a \u201cself-service gourmet eatery\u201d offering salads, sandwiches, wraps and cappuccinos.<\/p>\n<p>The HFF investment sales team that represented HEI was led by senior managing director Dan Peek, who heads HFF\u2019s hotel group; managing directors John Bourret and Colby Mueck; and real estate analyst Austin Brooks.<\/p>\n<p>About 4,700 hotel rooms are under construction in Houston, or more than a third of the 14,000 or so under way throughout Texas, second-half 2014 report from Marcus &amp; Millichap. The report nonetheless predicts continued RevPAR growth, in the high single digits, in the coming quarters, as demand continues to outpace supply growth.<\/p>\n<p>As to hotel deal flow, the report notes that investor demand \u201cfar exceeds\u201d the inventory listed for sale in Texas, as buyers seek to move ahead while the hotel industry enjoys \u201can extensive upswing in property performance.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As hospitality demand in Houston continues to outpace supply, HEI Hotels &amp; Resorts sells its 152-key select-service boutique hotel to Westpark I.<\/p>\n","protected":false},"author":882,"featured_media":1004111694,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21751,21783,21742],"tags":[],"class_list":["post-1004111692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-hotel","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>HEI Hotels &amp; Resorts Trades Aloft Houston Galleria Hotel - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hei-hotels-resorts-trades-aloft-houston-galleria-hotel\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HEI Hotels &amp; Resorts Trades Aloft Houston Galleria Hotel\" \/>\n<meta property=\"og:description\" content=\"As hospitality demand in Houston continues to outpace supply, HEI Hotels &amp; Resorts sells its 152-key select-service boutique hotel to Westpark I.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hei-hotels-resorts-trades-aloft-houston-galleria-hotel\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-22T15:58:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T08:52:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/Aloft.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"1240\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hei-hotels-resorts-trades-aloft-houston-galleria-hotel\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hei-hotels-resorts-trades-aloft-houston-galleria-hotel\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"HEI Hotels &amp; 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