A pair of limited-service properties—the Best Western Swiss Clock Inn in Pecos, Texas, and the Four Points by Sheraton in Appleton, Wisc.—were sold in deals facilitated by Marcus & Millichap.
The 107-room hotel was sold by Catering of Central Texas to a private investor group with multiple commercial assets in the West Texas region. The property is a one-story, exterior-corridor hotel with access to Interstate 20 and Pecos Municipal Airport. The sale included the Alpine Lodge restaurant, Ol’ Barrys Tavern and The Villas, a 33-room manufactured housing community situated behind the hotel.
Hotel amenities include an outdoor pool, fitness and business centers. The property serves demand generated by the region’s oil and gas industry, nearby medical facilities and local event venues, according to the Calabasas, Calif.-based brokerage firm.
“It was a privilege to market and sell this iconic 107-room Best Western in Pecos on behalf of our seller after more than 45 years of dedicated family ownership,” Allan Miller, senior managing director investments, said in a statement.
Miller—investment specialist in Marcus & Millichap’s Austin office—had the exclusive listing to market the property on behalf of the seller and the transaction received additional support from Chris Gomes of Miller-Gomes Hotel Team.
The 80-room Four Points by Sheraton in Appleton, meanwhile, was built in 1997 and renovated in 2021. The upper-midscale hotel is positioned near Appleton International Airport, Fox River Mall, Lawrence University and several major employers.
“The buyer is acquiring a fully renovated Marriott-branded asset with the opportunity to enhance performance in a stable and diversified demand market,” stated Jon Ruzicka, senior managing director investments. “Strong interest in this offering reflects continued investor confidence in well-located, brand-affiliated hotel properties throughout the Midwest.”
Raj H. Patel of Marcus & Millichap’s Milwaukee office—along with Ruzicka, Joseph Ferguson and Reed Gizinski of the firm’s Minneapolis office—exclusively represented the seller and procured the buyer. The assignment was originated by Patel, who served as lead advisor.