In Brief: HVS Brokerage & Advisory has completed the sale of the 88-key Wingate by Wyndham Seminole, located at 1103 Hobbs Highway in Seminole, Texas.
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Wingate by Wyndham Seminole, TX – Image Credit HVS
The 2013-built property was sold by WG Seminole Hospitality, Ltd. and LB Hospitality, Inc., both based in Midland, Texas, to RKP4 Holdings LLC of Lubbock, Texas. HVS Brokerage & Advisory facilitated the transaction.
The hotel is located along U.S. Highway 62/Hobbs Highway in Gaines County, within the Permian Basin, an area known for oil production and supported by energy companies such as Chevron and OXY USA Inc., as well as agricultural operations and hospitals. The property is also near Zia Park Casino & Racetrack in Hobbs, close to the Texas/New Mexico border.
The sale process involved multiple offers and addressed transaction complexities, including seller-completed property improvements prior to closing and operational considerations related to the hotel’s bar.
HVS Brokerage & Advisory team members involved in the transaction were Eric Guerrero, Andrew Frosch, Matthew Omansky, Fadi Rawashdeh, Kyle Peterek, and Daneen Godinet.