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Category Archives: Hospitality

Hines, Novak Break Ground on Sheraton Hotel Near Austin

GEORGETOWN, Texas – Hines, the Houston-based real estate firm, along with joint venture partner Novak Brothers, recently held a groundbreaking ceremony celebrating the start of construction of a Sheraton hotel that will be part of a mixed-used project in in Georgetown, which is 25 miles north of downtown Austin. The developers are building a 222-room Sheraton Georgetown Texas Hotel and ... Read More »

50 Proposed Multifamily Projects Killed or Postponed in Houston in Wake of Oil Crash

HOUSTON – Developers have shelved plans to build some 50 multifamily projects in Houston, where a sharp drop in oil prices has dampened the local economy, according to Patrick Duffy, president of Colliers International in Houston. “We’ve heard 50 multifamily projects have been cancelled or postponed,” Duffy said in remarks to the CoreNet and IFMA luncheon in Houston. Houston has ... Read More »

DoubleTree Hotel Opens on Galveston Island

GALVESTON —  DoubleTree by Hilton has opened the  DoubleTree by Hilton Galveston Beach, a contemporary five-story, 97-room hotel on Seawall Boulevard, facing the Gulf of Mexico. Formerly the Galveston Beach Hotel, the property has concluded a multi-million dollar renovation that includes a total redesign of the lobby, food and beverage outlets, public spaces, meeting and event areas and guest rooms, as well as new ... Read More »

N.Y. Group Buys Aloft Hotel in Houston’s Galleria Area

HOUSTON – Westpark I,  a Melville, N.Y.-based group, has purchased the Aloft Hotel near the Galleria in Houston. The seller was HEI Hotels and Resorts who will continue to manage the 152-room hotel for the new owners.  Matthew F. Keefe, President of HK Group, brokered the transaction. The hotel is located at 5415 Westheimer Road within walking distance of the Galleria. ... Read More »

Ashford to Buy Lakeway Resort on Lake Travis in Austin for $33.5 M

AUSTIN – Ashford Hospitality Trust has agreed to acquire the 168-room Lakeway Resort & Spa in Austin for a total consideration of $33.5 million or $199,000 per key. Located on the shore of Lake Travis, the hotel features 24,000 square feet of meeting space. The acquisition is expected to close within the next 30 days, said Ashford, a Dallas-based REIT. Upon closing, the ... Read More »

Moody National Buys Austin Hotel

AUSTIN – Moody National Cos., a Houston-based real estate firm, has purchased the Hilton Garden Inn Austin NW/Arboretum, a 138-key hotel located in Austin, Texas, which Forbes magazine named the “2014 Fastest Growing City in America”. HFF exclusively marketed the property on behalf of the seller. The property is located at 11617 Research Boulevard near US 183’s intersection with Loop 1 ... Read More »

Two Houston Hotels Part of $107 Million Purchase

PALM BEACH, Fla. – Chatham Lodging Trust a hotel real estate investment trust, has acquired four hotels, including two Marriott-related properties in Houston’s Inner Loop, for $107 million. The four hotels, purchased for $186,000 per room, are: •   179-room Hilton Garden Inn Burlington, Mass. •   176-room Courtyard by Marriott Dallas in Addison, Texas. •   120-room Residence Inn by Marriott West University, at 2939 ... Read More »

Two Valencia Hotels Planned for College Station Mixed-Use Project

COLLEGE STATION – Midway Cos. has broken ground on a 60-acre mixed-use development with two hotels, office space, apartments, retail outlets and restaurants. The project, called Century Square, will be located across the street from the Texas A&M University campus in College Station. Century Square will have two full service hotels, The George (160-rooms) and Cavalry Court (140-rooms), developed in ... Read More »

Hyatt Buys out Partner in Bastrop Resort for $143 Million

BASTROP, Texas – An affiliate of Hyatt Hotels Corp. has acquired its partners’ 92 percent interest in the 491-room Hyatt Regency Lost Pines Resort and Spa in Bastrop, Texas, for $143 million. The hotel is in Bastrop, east of Austin. In September 2011, the Bastrop area was struck with a massive wildfire, which burned 34,356 acres and destroyed almost 1,700 ... Read More »

Groundbreaking in Nov. for 1,000-Room Convention Hotel in Austin

AUSTIN – A groundbreaking will be held next week for The Fairmont Austin, a 1,066-room hotel adjacent to the Austin Convention Center. The hotel’s developer, Manchester Texas Financial Group, secured financing from Colony Capital, LLC for its $370 million luxury hotel, which is slated to open June 3, 2017. “It’s time for construction of the Fairmont Austin to fire on ... Read More »

325-Room Hyatt Galleria to Open in Fall 2015

CHICAGO — Hyatt Hotels Corp. has entered into a franchise agreement with Songy HighRoads, a commercial real estate development firm based in Atlanta, to develop Hyatt Regency Houston Galleria in Texas. The Houston hotel will be managed by Aimbridge Hospitality and is scheduled to open in fall 2015. Hyatt Regency Houston Galleria is being built near the Houston Galleria shopping mall ... Read More »

Hotel Under Construction in Hughes Landing in The Woodlands

THE WOODLANDS, Texas – The Woodlands Development Co. has begun construction on a 205-key Embassy Suites Hotel at Hughes Landing, a 66-acre mixed-use development in The Woodlands north of Houston Hughes Landing is a waterfront development with retailers, dining, entertainment, multifamily residences and several new Class A office space. The first multifamily development in Hughes Landing, One Lake’s Edge, will feature 390 luxury ... Read More »

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