HOURP Compset Validation

Performance Summary STR Jan 2026

Compset Quality Assessment

Issues Identified

• Full-service mismatch: DoubleTree (284 keys, full-service) is 49% larger and a different product type than the subject. Its $111 Tax RevPAR pulls the compset average up, depressing HOURP's RGI.
• Distressed boutique: Hotel Ylem (79 keys, Ascend Collection) has $45-69 nightly rates, declining reviews, and $60 Tax RevPAR. Not a true comp for a Marriott select-service property.
• Stale tax data: Staybridge Suites last filed tax reports in Dec 2017. Either the property changed ownership/taxpayer number or stopped reporting. Data quality is unreliable.
• Holiday Inn S-NRG under renovation: Currently renovating (Jul 2025 - Jun 2026). Tax receipts down -14.1% YoY. This temporarily distorts compset metrics in HOURP's favor but will reverse post-renovation.
• Missing direct competitor: Hilton Garden Inn Houston Medical Center (6840 Almeda, ~157 rooms, upscale select-service, opened ~2022) is not in the compset. Tax RevPAR ~$106 — this is one of the strongest performers in the trade area.
• Combined Hyatt tax reporting: Hyatt Place (127-159 keys) and Hyatt House (139-171 keys) share taxpayer number 32063887262. Combined 298 keys, $11.1M TTM, $102 RevPAR. Individual performance unknown from tax data alone; STR would have separate entries.

Current STR Compset STR Response Tab — Jan 2026

Source: HOURP_STR_Monthly_2026-01.xlsx Response sheet (Tab 22). STR ID: 9971. 5 competitors in the official STR competitive set.

Room counts and open dates from STR Response Tab (authoritative). DoubleTree is 297 rooms per STR (MC had 284). Holiday Inn S-NRG opened Jun 1987 per STR (not 1984).
Courtyard Tax RevPAR ($59) appears low for a recently-renovated Upscale property — possible partial-year data or taxpayer number change.

MC-Tracked Hotels (Not in STR Compset) Market Intel

These hotels are tracked in Mission Control for market intelligence and rate monitoring but are not part of the official STR competitive set.

* Room counts may differ from developer sources. ** Hyatt Place/House share taxpayer 32063887262, combined 298 keys. *** Staybridge tax data last available Dec 2017.

Hotels Not in Compset Candidates

* HGI and Home2 Suites share taxpayer number 32067946296 at 6840 Almeda Rd (combined 300 keys). Individual RevPAR breakdown requires STR data.
Comfort Suites: very close (0.5 mi) but only 55 rooms (71% smaller than subject). Declining -19.3% YoY. Likely too small for primary compset.

Tax Intelligence Comparison TX Comptroller via SIFT

Tax RevPAR = TTM Taxable Receipts / (Rooms x 365). Source: Texas Comptroller Hotel Tax Reports via SIFT ingestion. Most recent data through Jan 2026 unless noted.
Courtyard Tax RevPAR ($59) appears low vs its Upscale tier — possible partial-year data or taxpayer number change. Verify.

Hotel Condition Assessment

RGI Impact Analysis

Current State: RGI 75.8

HOURP captures 75.8% of its fair share of revenue vs the compset. All three indices (RGI, MPI, ARI) are below 100, indicating underperformance on both rate and occupancy.

Proposed Changes Impact

Important: The goal is NOT to game the RGI higher. The goal is to create an honest, defensible peer group. A 78 RGI against true comps is more useful than a 76 RGI inflated by a full-service DoubleTree and deflated by a distressed boutique.

Summary & Recommendations

Balanced Approach

Recommended compset (post-changes): 6 KEEP + 1 ADD = 9 members (down from 10). Mix: 5 select-service + 3 extended-stay + 1 full-service (Holiday Inn S-NRG under reno). This maintains healthy product type diversity while removing the two most mismatched properties (full-service DoubleTree and distressed Hotel Ylem). The Staybridge is retained pending STR data verification.

RM Call Prep: Talking Points (Mon Mar 24)

1. Propose removing DoubleTree (284 keys, full-service). It's a different product type and 49% larger. Its $111 Tax RevPAR pulls the compset average up and depresses our RGI. Request: "We'd like to remove the DoubleTree and replace it with the Hilton Garden Inn at 6840 Almeda — same upscale select-service tier, similar size (157 vs 190 keys), opened 2022."
2. Propose removing Hotel Ylem (79 keys, boutique). It's a Choice Ascend Collection property selling at $45-69/night with declining reviews. Not a meaningful comp for a Marriott select-service property. "This is more of a boutique/independent with distressed pricing. We'd like to remove it from the peer group."
3. Flag the Staybridge data issue. "We're seeing stale tax data for the Staybridge — can we verify its current STR performance? If it's performing, we want to keep it for extended-stay balance."
4. Note Holiday Inn S-NRG renovation. "The Holiday Inn on Kirby is mid-renovation through June 2026. Its current numbers are depressed (-14% YoY). We want to keep it in the compset but flag that it's not representative right now."
5. Ask about the Hilton Garden Inn. "The HGI at 6840 Almeda opened ~2022, approximately 157 keys, upscale select-service. We think it's a direct comp. Can we add it for the next STR submission?"

Next Steps

• Review proposed changes with Wynn before Monday RM call
• Verify Staybridge Suites current performance via STR data
• Confirm HGI Houston Med Ctr exact room count and opening date from STR
• Verify Hyatt Place/House individual room counts (127+171 vs 159+139)
• Verify Courtyard Tax RevPAR ($59 seems low for recently-renovated upscale) — possible data lag
• Submit compset change request to STR: REMOVE DoubleTree, REMOVE Hotel Ylem, ADD HGI
• Update compset in Mission Control after STR confirmation
• Post-renovation reassessment of Holiday Inn S-NRG (Jul 2026)