Loan Secured To Realize Hotel Tower in Houston CBD

Arriba Capital secured a US$52.5-million loan to realize a dual-branded Holiday Inn Express and Staybridge Suites hotel in Houston’s CBD, Hotel Business reports. The property, which appears in a rendering to be approximately 17 stories tall, will be developed and managed by Houston-based Neway Hospitality, “experienced hotel developers, owners and operators with a deep track record in the Houston market,” according to Arriba Principal Ryan Bosch. It was Neway’s reputation and the prime location that made the loan possible in what Bosch describes as a difficult capital market environment. Expected to open in the fourth quarter of 2025, the property will include 275 rooms; an outdoor, fifth-floor pool; meeting space; a fitness center; a business center; and a dining area for complimentary breakfast.