Propel Management to Take On 91-Key Holiday Inn Express
Propel Management has been tapped to manage a 91-room hotel in Round Rock, TX, which will re-open in May, 2020 as a Holiday Inn Express & Suites. Propel Management’s sister company, Propel Construction LLC, is renovating the property at 2340 N. Interstate 35.
Hotel Reposition Partners LLC, traced to PaulsCorp of Denver, CO. acquired the asset from Blue Chip Hotels Asset Group. The seller had filed for Chapter 11 bankruptcy in fall, 2019, according to public records. The hotel had sat dormant for more than a year, with renovation recently launched.
According to Tye Turman, Propel Cos.’ recently-hired CEO, the move is in line with the company’s enhanced third-party growth plans. “Now that we’ve taken over management for the property and our construction division can begin renovation, we are very excited to give new life to this well-located hotel in Round Rock’s thriving market,” added Propel Management’s Jayson Mitchell.
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