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Studio 6 opens in Katy, Texas

The hotel features G6 Hospitality’s new prototype design

Studio 6 Katy, Texas, a new-build extended-stay hotel, is now open in the Houston suburb. It is owned by Sharin Patel and Ripan Modi.

The 63-suite hotel was built under the new design parent company G6 Hospitality introduced last year. Nearby attractions include Rhodes Stadium and Legacy Stadium, Nelson Water Gardens and Nursery and Typhoon Texas Waterpark. The hotel also is pet friendly, and G6’s recently implemented “Clean@6” cleaning and safety protocols are in effect at the new property.


“Katy is a vibrant town and popular destination for business and tourism, and we are excited to partner with G6 Hospitality to bring more affordable lodging options to the area,” said Modi, who also is the hotel’s general manager. “We chose to open a Studio 6 because of the brand’s longstanding commitment to leaving the light on for guests, which has been of even greater need for those required to continue travel during these times. Whether guests are looking to stay for an extended period or just a night or two, our goal is to make traveling affordable and accessible for all.”

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Kabani brokers $9M sale of Florida voco
Photo Credit: voco hotel in St. Augustine, Florida

Kabani brokers $9M sale of Florida voco

Summary:

  • Kabani facilitated the $9M sale of the voco hotel in St. Augustine, Florida.
  • The 50-key, 2019-built hotel is on Anastasia Island.
  • The deal closed at a 6.3 percent capitalization rate and a 5.3x room revenue multiple.

KABANI HOTEL GROUP facilitated the sale of the 50-room voco hotel in St. Augustine, Florida, for $9 million, or $180,000 per key. The deal closed at a 6.3 percent capitalization rate and a 5.3x room revenue multiple.

The 2019-built voco, part of the IHG Hotels & Resorts portfolio, is on Anastasia Island, according to IHG. It is near Castillo de San Marcos, the Lightner Museum, St. George Street, the Colonial Quarter and Flagler College.

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