Texas Hotel ManagementIncome Summary · June 18, 2026
Income & NOI Summary
SpringHill Suites Houston Medical Center / NRG Park | 1400 Old Spanish Trail, Houston, TX 77054 | 190 Keys | SpringHill Suites by Marriott
$2.70M
TTM thru April 2026 NOI
+32.4%
April NOI, year over year
$36.1M
Income value at 7.5% cap
Adjusted NOI Trend
| Period | Total Revenue | Adjusted NOI | Margin |
|---|
| 2025 actual | $6,601,921 | $2,397,760 | 36.3% |
| TTM through March 2026 | $6,930,459 | $2,639,481 | 38.1% |
| TTM through April 2026 | $7,040,762 | $2,704,335 | 38.4% |
| 2026 operating plan | $6,977,080 | $2,966,410 | 42.5% |
The Latest Month: April 2025 vs April 2026 (Actuals)
| April | 2025 | 2026 | Change |
|---|
| Total revenue | $566,933 | $677,236 | +19.5% |
| Net operating income | $190,111 | $251,656 | +32.4% |
| RevPAR (STR) | $93.63 | $111.14 | +18.7% |
| RevPAR index vs compset (RGI) | 97.6 | 103.5 | +5.9 pts |
Income Value Indication
| Basis | Adjusted NOI | Cap rate | Indicated value |
|---|
| TTM through April 2026 | $2,704,335 | 7.5% | $36.1M |
| 2026 operating plan | $2,966,410 | 7.5% | $39.6M |
Methodology is consistent with the refinance package already on file. The trailing twelve months have been rolled to April 2026, dropping a softer April 2025 and adding an April 2026 that ran 32% higher on NOI and 18.7% higher on RevPAR, with the RevPAR index crossing above the competitive set (97.6 to 103.5). The trailing figure continues to climb toward the 2026 operating plan. Land value alone is approximately $15M and the Marriott SpringHill flag is committed through 2039.