Buying hotel portfolios are innBuying hotel portfolios are innhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=178152017-09-26T05:00:00Z2017-09-26T22:00:00Z

​​​​​Fairfield Inn and Suites entranceAUSTIN, EL PASO – Holliday Fenoglio Fowler ​L.P. announced the sale of a two-property, Marriott-family hotel portfolio totaling 244 rooms in Austin and El Paso.​

The two Marriott-branded hotels were purchased for $38.8 million.​

Condor Hospitality Trust purchased the portfolio.

The portfolio properties are the Residence Inn by Marriott Austin Airport and the Fairfield Inn & Suites by Marriott El Paso Airport hotels. 

The 120-room Residence Inn by Marriott Austin Airport, completed in 2016, includes an outdoor patio with fire pit and grill. 

The hotel is at 3201 Caseybridge Ct. adjacent to Austin-Bergstrom International Airport. 

Additionally, the Circuit of the Americas motor racing facility, which contains the Austin360Ampitheater, is approximately five miles from the hotel. 

Completed in 2015, the Fairfield Inn & Suites by Marriott El Paso Airport contains 124 rooms and is located at 611 Edgemere Blvd. adjacent to the El Paso International Airport. 

The hotel’s proximity to the Hwy. 375 Loop and I-10 provides access to Fort Bliss, Biggs Air Field and the Medical Center of the Americas.

The Company has a third Marriott-branded hotel, the TownePlace Suites Austin North Tech Ridge, under contract for just under $20 million which is expected to close first quarter 2018.
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