Hodges Ward Elliott (“HWE”) is pleased to present the opportunity to acquire the fee-simple interests in the award winning 104-key Residence Inn Waco South and the 98-key Tru Waco South (“Properties” or “Hotels"). The adjacent Properties were developed together, opening in August of 2020, quickly ramping up and exhibiting strong performance each subsequent year.
Strategically positioned in one of the Sunbelt’s most attractive and diverse markets, Waco is a “university town” (Baylor University) that has become a job, population, and tourism magnet. Waco is now a booming central-Texas MSA between Dallas and Austin, with a population base soon eclipsing 300,000.
The Hotels boast a premier location anchoring Waco’s southside, surrounded by new mixed-use development – entertainment (TopGolf, Cinemark movie theatre, Main Event, golf course, youth sports stadiums), high-end retail and restaurants, hospital/medical facilities, new residential, new distribution centers (including Amazon, Walmart, Tractor Supply, Caterpillar Logistics), new and newly announced manufacturing/production facilities (Envases Commerce, Uzin Utes, Walmart, Graphic Packaging International, Emerald Transformer, Electrolit), and close proximity to SpaceX R&D facility.
Residence Inn Waco South
Address:
Year Opened:
Keys:
Stories:
Site Area:
Interest Conveyed:
Labor:
2424 Marketplace Drive, Waco, TX 76711
2020
104
4
±2.93 Acres
Fee Simple
Non-Union
Tru Waco South
Address:
Year Opened:
Keys:
Stories:
Site Area:
Interest Conveyed:
Labor:
2408 Marketplace Drive, Waco, TX 76711
2020
98
4
±1.95 Acres
Fee Simple
Non-Union
Investment Highlights
Recent-Vintage, Premium- Branded Select Service
The Residence Inn and Tru offer a powerful combination of Marriott/Hilton booking engines, along with being some of the newest hotels in the Waco market.
Unique Efficiencies Created by Adjacent Properties
Currently managed by Aimbridge Hospitality, the Properties offer a unique arrangement with their adjacency, providing cross-selling opportunities and operational efficiencies that wouldn’t exist for either Hotel on its own.
Booming Central Texas MSA – Leading Tourism, Job, and Population Magnet
Waco is ideally situated midway between Dallas/Fort Worth and Austin, bisected by superhighway Interstate 35, and is experience immense growth as a result. Waco’s strategic location enhances its appeal as a regional hub for business and leisure, offering a strong mix of cultural/tourism/entertainment, university, sporting, corporate, and medical demand drivers.
Anchor Location in Waco’s Southside – Surrounded by Mixed-Use
The Hotels boast a highly desirable location within the market, with new mixed-use development, entertainment options, high-end retail and restaurants, hospital/medical facilities, new residential, and new distribution centers in every direction.