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Category Archives: Hospitality

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 »

Hampton Inn in Downtown Austin (Tallest Hampton in the World) Sells for $53 million

AUSTIN – Summit Hotel Properties paid $53 million to purchase the 16-story Hampton Inn & Suites in downtown Austin. The 209-room Hampton was developed in 2002 by Doyle A. Graham Jr., President and CEO of the Houston-based Valencia Group hotel organization. The Austin Hampton, 200 San Jacinto Blvd,, is believed to be the tallest Hampton Inn in the chain, which is part ... Read More »

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