La Quinta Inn by Wyndham Odessa 5001 E Highway 80

As the exclusive representative of the seller, Marcus & Millichap's Hospitality Division is pleased to present for sale to qualified investors the La Quinta Inn by Wyndham Odessa (‘Hotel’ or ‘Property’) located in Odessa, Texas. The Wyndham Hotels & Resorts-branded Hotel is offered at $6,000,000 or $49,181 per key.
The La Quinta Inn by Wyndham Odessa is a two-story, mixed-corridor hotel with 122 rooms, located at 5001 W Hwy 80 E in Odessa, Texas. The hotel, located less than 10 miles from Midland International Airport (8.4 miles), boasts high visibility and easy accessibility, situated on East Business Interstate 20 near its intersection with Texas Loop 338, which sees an average daily traffic of approximately 19,000 vehicles. Various common area amenities at the Property include an outdoor pool, business center, breakfast area, outdoor area with barbecue grill, on-site guest laundry and sundry. The hotel recently underwent a $230,000 capital expenditure investment, enhancing key areas of the hotel.
Partial room renovations at the property are nearing completion, with FFE ordered and stored on-site for future installation. This strategic improvement positions the hotel for higher occupancy rates and increased revenue, making it an attractive opportunity for a potential investor seeking long-term value and profitability.
Odessa, Texas, is a central urban hub in the Odessa Metropolitan Statistical Area (MSA) and the Permian Basin, closely linked with the Midland MSA. Located 20 miles from Midland and 100 miles from the New Mexico border, it is key for regional commerce, particularly in the energy sector. Positioned about 330 miles from Fort Worth, 280 miles from Lubbock, and 140 miles from San Angelo, Odessa is a strategic midpoint between Fort Worth and El Paso, supported by major highways and a robust transportation network.
The energy sector is the backbone of Odessa's economy, fueled by the abundant resources of the Permian Basin. The city hosts numerous oilfield service companies, exploration and production firms, and related businesses that support the thriving oil and gas industry. Near the property, Halliburton (10.1 miles), one of the world’s largest oilfield services companies, employs over 2,000 people in Odessa, offering a wide range of services including drilling, evaluation, and production enhancement. Liberty Oilfield Services (2.7 miles), a leading provider of hydraulic fracturing services, plays a crucial role in supporting oil and gas extraction, further driving economic activity in the region with over 1,000 employees in Odessa. Saulsbury Industries (1.9 miles), headquartered in Odessa with a workforce of more than 1,000 employees, is a prominent engineering, procurement, and construction (EPC) firm specializing in infrastructure projects for the energy sector, including oil and gas, refining, and industrial processing plants.
Odessa's available land strategically positions businesses at the heart of West Texas commerce. Within the city, Odessa Business Park offers 60 acres, while Odessa Industrial Park provides an additional 30 acres. Moreover, ICA Properties and Leeco Properties offer further acreage, each with excellent amenities tailored to benefit businesses across various industries. A prime example of this opportunity is Liberty Energy’s recent development. In March 2024, Liberty broke ground on a new $50 million facility in Leeco’s Industrial Park. Located between US Highway 80 and Interstate 20, this state-of-the-art facility will feature office space, a workshop, a 50,000-square-foot warehouse, and a truck wash facility. The project not only maintains 1,000 full-time jobs in Odessa but also creates 500 new positions, highlighting the significant impact and potential of Odessa’s business environment.
Odessa's demand for lodging is also driven by its healthcare facilities, educational institutions, and local attractions. The Medical Center Hospital (4.7 miles) and Odessa Regional Medical Center (3.5 miles) offer specialized medical services, while Odessa College (5.0 miles) and the University of Texas Permian Basin (UTPB – 1.3 miles) provide educational opportunities and contribute to a skilled workforce. Nearby attractions, such as the West Texas Event Center (.3 miles), Stonehenge Replica (2.0 miles), Music City Mall (2.8 miles), White-Pool House (4.2 miles), Ector County Coliseum (5.7 miles), and Wagner Noel Performing Arts Center (8.9 miles), draw visitors for events, shopping, and cultural experiences. The La Quinta Inn by Wyndham Odessa is strategically located to cater to the needs of those visiting these key demand generators.
The hotel achieved 108 percent RevPAR (RGI) Index in the trailing twelve months ending May 2024, reflecting exceptional operational performance and strong market demand. This hotel's superior ability to maximize revenue makes it an appealing prospect for a potential investor focused on high-yield opportunities and sustained growth.
La Quinta, a prominent Wyndham brand, specializes in providing comfortable accommodations across lower chain scales including economy and midscale segments. As part of the Wyndham family, renowned for its Wyndham Rewards program and expansive portfolio, La Quinta distinguishes itself with practical amenities such as complimentary WiFi, daily breakfast, pet-friendly policies, in-house markets, pools, fitness centers, and business centers. Emphasizing affordability without compromising on quality, La Quinta appeals to budget-conscious travelers seeking value and convenience.