Houston Galleria-area Hilton Garden Inn sold Houston Galleria-area Hilton Garden Inn sold https://www.recenter.tamu.edu/news/newstalk-texas/?Item=62182013-09-27T16:13:00Z2013-09-26T00:00:00Z

HOUSTON - The 182-room Hilton Garden Inn in the Houston Galleria area has been purchased by Summit Hotel Properties Inc. The company also has three hotels under contract in Southern California.

The Southern California hotels — three Hampton Inn & Suites in Goleta, Camarillo and Poway — and the Hilton Garden Inn in Houston will be purchased for $96.5 million in two separate transactions.

Summit plans to invest $3.1 million in upgrades at the Houston property and $2.9 million to the three California hotels.

The Houston hotel market is benefiting from the area’s booming oil and natural gas businesses, which are growing due to the surge of production from shale plays.

Houston Business Journal
Houston-The Woodlands-Sugar Land
http://www.bizjournals.com/houston/morning_call/2013/09/austin-hotel-operator-buys-calif.htmlRead more at {Source}

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