June 23–St. Louis-based Midas Hospitality has bought the 120-room Staybridge Suites hotel in the Texas Medical Center for an undisclosed price, real estate service firm CBRE announced Thursday.
The purchase will mark the company's first step into the Texas market, and will add to its portfolio of 41 hotels in 14 states.
"Houston is a continuously evolving city, and we have researched this market for many years," said Midas Hospitality CEO David Robert. "The acquisition happened at the right time and place for us, and we could not be more excited to be a part of this growing community."
Eric Guerrero, vice president of hotel brokerage and investment sales at CBRE, said that the sale highlights the strength of the medical center submarket for hotel investment.
