Moody Has Its Own ‘Core Plus Plus' View of Hotels

HOUSTON—Its own backyard is one of the hottest corporate growth markets in the US, and that’s just the type of hotel market that Moody National Cos. seeks out. Through its Moody National REIT I, the full-service commercial real estate firm recently entered into purchase agreements on two premium-brand lodging properties in other such growth markets, and chairman, CEO and president Brett C. Moody tells GlobeSt.com that many more such deals are in the pipeline.

At the end of March, the REIT agreed to buy a 133-suite Residence Inn in Grapevine, TX, near Dallas/Fort Worth International Airport and the business travel demand generated by one of the world’s busiest airports. In the Silicon Valley city of Newark, CA, where the Moody REIT has gone into contract on the 127-key TownePlace Suites by Marriott Newark/Silicon Valley, “We’re in close proximity to Apple, Google and Facebook,” Moody says. “This goes right in line with the rest of our portfolio.”