70-140 keys
The right scale for institutional demand and efficient operations.
Investment Criteria
The acquisition box
The profile we pursue. Discipline we uphold.70-140 keys
The right scale for institutional demand and efficient operations.
Select-service / limited-service
Focused service model with durable demand and operational simplicity.
Texas growth markets
High-growth MSAs and submarkets with strong fundamentals.
7-10% cap rate
Attractive risk-adjusted returns in resilient lodging markets.
Below replacement cost
Acquire below replacement cost to create embedded value.
Positive in-place cash flow
Current cash flow that supports the investment from day one.
Operational upside
Clear paths to lift revenue, improve margins and drive asset value.
Limited deferred maintenance
Well-maintained assets with minimal immediate capital requirements.
Stable operating history
Consistent performance through market cycles with a track record of reliability.
Target hotel profile
Investment Criteria
The acquisition box
The profile we pursue. Discipline we uphold.Select-service / limited-service
Focused service model with durable demand and operational simplicity.
Texas growth markets
High-growth MSAs and submarkets with strong fundamentals.
7-10% cap rate
Attractive risk-adjusted returns in resilient lodging markets.
Below replacement cost
Acquire below replacement cost to create embedded value.
Positive in-place cash flow
Current cash flow that supports the investment from day one.
Operational upside
Clear paths to lift revenue, improve margins and drive asset value.
Limited deferred maintenance
Well-maintained assets with minimal immediate capital requirements.
Stable operating history
Consistent performance through market cycles with a track record of reliability.
The Discipline
Every acquisition
must stand on its own merits. We pursue hotels that fit our box. We pass on the rest.PursueFits the box
PassDoes not fit
Select-service / limited-service
Focused on efficient, resilient brands.
70-140 keys
The institutional sweet spot.
Texas growth markets
Disciplined expansion in proven demand drivers.
7-10% cap rate
Built-in margin of safety.
Positive in-place cash flow
Performing today, not promised tomorrow.
Operational upside
Clear, executable path to improve.
Limited deferred maintenance
Well-maintained, capital-light.
Stable history
Consistent operating track record.
Distressed turnarounds
High risk, uncertain outcomes.
Heavy deferred maintenance
Capital intensive, execution risk.
Speculative cash flow
Pro forma dependent, not proven.
Weak submarkets
Limited demand or encumbered supply.
No operational path
No clear way to create value.
Outside the acquisition box
Wrong asset, wrong market, wrong time.
The Discipline
Everyacquisition
must stand on its own merits. We pursue hotels that fit our box. We pass on the rest.Pursue Fits the box
- Select / limited-serviceFocused on efficient, resilient brands.
- 70-140 keysThe institutional sweet spot.
- Texas growth marketsProven demand drivers.
- 7-10% cap rateBuilt-in margin of safety.
- Positive in-place cash flowPerforming today.
- Operational upsideClear path to improve.
Pass Does not fit
- Distressed turnaroundsHigh risk, uncertain outcomes.
- Heavy deferred maintenanceCapital intensive.
- Speculative cash flowPro forma dependent.
- Weak submarketsLimited or encumbered demand.
- No operational pathNo clear way to create value.
- Outside the boxWrong asset, market or time.
Brokers & Sellers
Have a hotel that fits the box?
We move quickly on assets that meet our criteria, with a clean process and certainty of close.