The Le Meridien hotel, a luxury property located in downtown Houston, has filed for Chapter 11 bankruptcy protection, according to court documents submitted on Monday.
The filing was made in the U.S. Bankruptcy Court for the Southern District of Texas. The hotel, situated at 1121 Walker Street, is owned by an affiliate of Heavlin Management Company. The company cited financial challenges brought on by the COVID-19 pandemic and subsequent economic pressures as reasons for seeking bankruptcy protection.
According to the court documents, the hotel listed assets and liabilities each in the range of $50 million to $100 million. The property will continue operating during the bankruptcy process, with management stating that guest services and employee operations will remain uninterrupted.
Le Meridien Houston Downtown opened in 2017 following a renovation of a former office building. The hotel features 255 rooms and offers amenities such as a rooftop bar, event spaces, and a fitness center.
In the bankruptcy filing, the company indicated it intends to pursue a sale of the property or a restructuring of its debt. The filing also noted that the hotel’s financial difficulties were exacerbated by reduced business travel and group events during the pandemic, which significantly impacted revenue.
Le Meridien is part of the Marriott International portfolio, but the bankruptcy filing applies only to the ownership entity and does not affect other Marriott-branded properties.
