H033 Element vs H072 Staybridge — Side-by-Side

Element Houston Vintage Park vs Staybridge Suites Houston Medical Center · 2026-05-13
Bottom line in one paragraph H033 (Element) and H072 (Staybridge) are two genuinely different deals. H033 is a distressed Marriott Element with a personal-guaranty-driven seller and a tight Vintage Park geography — but HOUZV is operated by Alyssa's uncle (not THM), so the cluster math is a 2-property HOUZN+HOUEL pairing (262 keys), not a trio. Plus real revenue decline (−16.6% TTM YoY) and unsized deferred Marriott TRIP. H072 is a clean, profitable 2017 IHG Staybridge in TMC with stable RGI 102.5, post-PIP product, and a tighter-than-I-said cluster anchor — H072 and HOURP are under 1 mile apart, both THM-managed, 310 keys total. With those corrections, H072's cluster advantage is actually larger than H033's. H033 still wins on entry pricing (PG-driven). H072 wins on cluster tightness + proven HOURP playbook + post-PIP product.

H033 — Element Houston Vintage Park

123 keys · 2009 build · Marriott upscale extended-stay

14555 Vintage Preserve Pkwy, Houston TX 77070

Owner: Vintage Harris Hospitality LP (Benchmark Development / Billy Brown) · Operator: Imbue Investments · Broker: Austin Brooks @ HWE (referral from Michael Harper @ Peachtree) · STR# 58088

H072 — Staybridge Suites Houston Medical Center

120 keys · 2017 build · IHG upscale extended-stay

9000 Main St, Houston TX 77025

Owner: Midas Houston, LLC · Operator: 3rd-party (assumption — verify) · Broker: CBRE · Unencumbered of management

Financials

LineH033 ElementH072 Staybridge
Most recent TTM revenue $3,113,550 −16.6% YoY
Texas Comptroller TTM Mar 2026, taxpayer 32035035644		 $4,625,891 +~2% YoY
Owner P&L T12 Mar 2026, Financials/2026.03 TTM Financials.pdf p.1
TTM revenue per key $25,313 (TTM Mar 26) $38,549 (T12 Mar 26)
TTM NOI (pre-reserve) $1,297,304 on TTM Apr-25 P&L
Current TTM likely $700k–$900k flow-through est, assumption		 $1,495,530 (T12 Mar 26 actuals)
owner P&L p.1
NOI margin 34.2% on Apr-25 basis 32.3% on T12 Mar 26 basis
Net income –$176,938 (debt service crushes the bottom line) Positive (no equivalent debt strain visible)
TTM interest expense $1,091,395 exceeds NOI
Element PNL trailing 12.pdf p.2		 Not visible in OM-summarized P&L (CBRE-normalized strips below-the-line debt); owner P&L shows $805k owner P&L p.1
Revenue trajectory Declining — 2024 avg ~$317k/mo → 2025 avg $272k → 2026 Q1 avg $258k Texas Comptroller Stable — TTM RevPAR $100.75 (Apr 25) → $101.16 (T12 Mar 26); +1.8% RevPAR growth OM p.13 + owner P&L
Stale-materials disparity H072's data is current through March 2026. H033's data room caps at TTM April 2025 — 13 months stale. The decline only shows up in independent Texas Comptroller pull, not in what HWE handed us.

Compset position

MetricH033 ElementH072 Staybridge
Most-recent RGI ~102 vs algo cohort (TTM Mar 26)
Was 124 vs broker comp (TTM Apr 25)
deal_compset_cache + STR Comp tab		 102.5 vs 7-hotel comp set (TTM Jan 26)
OM p.13
Per-key per-day vs cohort (Q1-26) Subject $70 vs algo cohort $74 — below cohort, first time on record
deal_compset_cache.baseline_cohorts		 Mid-pack — outperforms older brand peers (SHS Med Ctr $88, HIE $95), trails newer Hilton Garden Inn/Home2 ($120) and Hyatt Place/House ($115)
OM p.15 Texas Comptroller cohort
Direction of RGI Rolling over — share loss to algo peers Stable to modestly improving

PIP / TRIP status

ItemH033 ElementH072 Staybridge
Last completed renovation 2015 (per InterMountain Renovation Mgmt Contract dated 2015-05-12). 2023 owner did ~$126k cosmetic (Kenmark window shades 50%, paint, sprinkler patches) per 8. PIP/PIP - Completed YTD/3660_001.pdf "Post-PIP" per OM p.5 assumption — verify completion year with broker
Brand status TRIP scope deferred to 2025, not executed — per Loren Nalewanski (Marriott VP Franchising) 2023-07-03 email; new owner inherits full scope No PIP overhang signaled in OM
Estimated new-owner PIP cost $1.5–3M assumption — verify with current PIP letter Minimal, likely brand-cycle catch-up only assumption — verify
Marriott's own diagnosis Loren 2023-06-16: "owner has no CAPEX funding. Hotel is running horrible numbers and not flowing cash today." N/A — no equivalent franchisor commentary in data room

Guest review signal

MetricH033 ElementH072 Staybridge
TripAdvisor rating / count 4.1★ / 466 reviews deal_review_assessment Not pulled yet
Google rating / count 4.0★ / 648 reviews same Not pulled yet
Issue mix (last 12 months) 43% operator / 19% renovation / 14% structural / 24% positive deal_review_assessment.payload.bucket_counts_12mo Not pulled yet
Newest red flags 2025-07 mold + water damage (TA + Google same incident); 2026-02 "outdated"; 2026-04 cleaning issues; 2026-01 light pole fell on car, mgmt unresponsive 2 months N/A pending pull

Deal structure

ItemH033 ElementH072 Staybridge
Listing posture Unpriced. Data room dropped May 2025, not refreshed. Unpriced. CBRE verbal guidance $17M as of 2026-03-12.
Seller motivation Personal guaranty on the loan — PG release is the prize, not proceeds No distressed signal known. CBRE marketing process, "institutionally-owned and managed" per OM p.5.
Path to closing Bid at Peachtree's payoff (or short payoff with PG release). Michael bridges acquisition financing per SHS NRG template. Standard CBRE marketing process — submit B&F at guidance or slightly below.
Loan assumption / debt Peachtree note. Bridge financing available per Michael. Fee-simple, unencumbered of management per OM p.5. Loan info not in materials.

Pricing math

LensH033 ElementH072 Staybridge
4× RRM on current TTM $3.11M × 4 = $12.45M $4.63M × 4 = $18.50M
10% in-place cap on TTM NOI $1.30M / 10% = $12.97M (on stale Apr-25 NOI); on current TTM est. $700–900k, $7–9M $1.50M / 10% = $14.95M
Per-key benchmark $100k/key × 123 = $12.3M / $130k/key × 123 = $16.0M $100k/key × 120 = $12.0M / $130k/key × 120 = $15.6M / $140k/key × 120 = $16.8M
Broker guidance / target No formal ask. THM target = Peachtree payoff. Likely $11–14M range. CBRE guidance $17M. THM target = $15–16M (W5 consensus).
Stabilized NOI under THM $1.5–1.7M assumption — operator change + cluster overhead + franchise normalization $1.7–1.9M assumption — modest A&G compression + cluster with HOURP

Cluster fit with the existing THM portfolio

H033 — Vintage Park pair (under THM ops)

Three Vintage Park hotels physically near each other, but only two would share THM management:

  • HOUZN — SpringHill Suites Houston Northwest (139 keys, Marriott upper-midscale transient) — THM-managed
  • HOUEL — Element Houston Vintage Park (123 keys, Marriott upscale ES) ← target, would be THM-managed
  • HOUZV — Hyatt Place Houston NW Vintage Park (130 keys) — operated by Alyssa's uncle, not THM per Ace (2026-05-13). Neighboring asset but no shared management / staff / overhead.

THM-managed total: 262 keys (HOUZN + HOUEL). Geometric tightness: HOUZN 0.45 mi from H033 per deal_compset_cache.algo_candidates.

HOUZV operator: Ace direct (Alyssa's uncle runs it). Cluster savings only apply to HOUZN + HOUEL pairing.

H072 — TMC pair

Two hotels within the same submarket:

  • HOURP — SpringHill Suites Houston Medical Center / NRG Park (190 keys, Marriott upper-midscale transient)
  • H072 — Staybridge Suites Houston Medical Center (120 keys, IHG upscale ES) ← target

Total: 310 keys, both THM-managed. Segment-complementary (1 transient + 1 ES). HOURP at 1400 Old Spanish Trail, H072 at 9000 Main St — less than 1 mile apart per Ace (2026-05-13).

Property codes / rooms: Supabase hotels table queries. Proximity: Ace direct knowledge of the submarket.

Critical advantage of H072 cluster: proven playbook THM has already executed the turnaround template at HOURP in this exact submarket: $1.41M → $2.40M NOI Y1 memory insight_thm_bottom_line_turnaround_thesis.md. H072 lands into a known-good ops environment. H033 would be the first THM property in Vintage Park.

Scorecard

H033 Element
H072 Staybridge
Operating risk
● Revenue declining −17% YoY; reviews flag mold
● Stable revenue; reviews not yet pulled
Product condition
● TRIP overdue, "outdated" in 2026 reviews
● 2017 build, post-PIP per OM
Entry pricing
● Distressed PG seller — expected below market
● Market CBRE process at $17M guidance
Cluster moat (THM-managed)
~ 262 keys under THM (HOUZV is family-operated, not THM)
● 310 keys under THM, both within <1 mi
Playbook risk
~ New submarket for THM ops
● HOURP proves the TMC playbook works
Consolidation savings
~ Imbue PEO exit + 2-prop overhead (HOUZV not in scope): $200–350k assumption — revised down with HOUZV out of THM ops
● 2-prop overhead + A&G lean within <1 mi: $150–300k assumption — revised up with tighter geometry
Capex risk
● $1.5–3M PIP + potential mold remediation assumption
● Post-PIP, minimal near-term
Submarket quality
● NW Houston / Vintage Park — strong but standard
● Texas Medical Center — top-tier defensive demand
Upside if executed
● 2× return potential on distressed entry + turnaround
~ Modest IRR uplift on a quality asset

W5 lenses

LensH033 ElementH072 Staybridge
Trump (dealmaker) Open $11–11.5M → close $13–14M. Anchor low, find PG pain, walk at $15M. Open $13–14M → close $15M. CBRE process gives less negotiation room.
Warren (capital preservation) $11–13M. Demand current TTM before bidding; no premium on stale data. $14–15M. 10% in-place cap on $1.50M NOI = $14.95M ceiling.
Wynn (positioning) $15–18M. Cluster premium + brand + TMC-adjacent demand. Stabilized $1.6M at 9% = $17.8M. $18–20M. TMC location is a top-tier defensible demand base; pay for the moat.
W5 consensus $12–13M target / $14M walk — conditional on Peachtree payoff $15–16M target / $17M walk — at CBRE guidance, walk at premium

Direct read

Reasons to lead with H033 Element

  • Distressed entry — PG seller pricing is fundamentally cheaper than CBRE market process
  • HOUZN sits ~0.5 mi away, can share management with HOUEL (HOUZV operated by Alyssa's uncle is a neighbor but not in scope for THM ops)
  • Imbue PEO exit is real cost takeout, regardless of cluster size
  • Distressed turnaround = larger absolute upside per dollar invested if executed

Reasons to lead with H072 Staybridge

  • Stable operating story — no 17% revenue cliff hidden in the materials
  • Post-PIP product — no immediate capex overhang
  • TMC is the strongest demand base in Houston by most measures
  • HOURP proves the playbook works in this submarket — operational risk is lower
  • HOURP + H072 are under 1 mile apart, both THM-managed — tighter true-THM cluster than Vintage Park
  • Higher per-key absolute revenue ($38.5k/key vs $25.3k/key) means lower turnaround dependency
  • Lower-variance return on capital — cleaner sleep at night
Recommendation Pursue both if capital and bandwidth allow. Sequence H033 first because:
  1. Peachtree's payoff number is the gate — until you know it, you can't size the all-in. Get the answer fast.
  2. If H033's payoff lets you bid at $11–13M with bridge debt, the math is too good to skip — fund it.
  3. H072 will still be there at CBRE-guidance pricing in 30–60 days; nothing about it is time-sensitive.
If H033's payoff prices it above $14M with no PIP credit: walk, and put the equity into H072 at $15–16M instead. H072 is the better deal if H033 doesn't pencil.
Hard "do not skip" diligence items before bidding either deal
Sources cited inline. Property codes and entity references per Supabase hotels table. H033 data from Hotel Research / H033 - Element by Westin - Vintage Park / + RPP deal_compset_cache + deal_review_assessment rows. H072 data from Hotel Research / H072 - Staybridge Suites Houston Medical Center / + CBRE OM. Assumptions marked inline.