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Category Archives: Hospitality

Hotel Investors Making Plays in San Antonio’s Hot Hotel Market

SAN ANTONIO – The San Antonio hotel market is demonstrating strong fundamentals that are attracting investors. “With Houston’s market still in decline, and the Austin and Dallas-Fort Worth markets flattening out due to large hotel room supply increase, San Antonio is becoming a more attractive destination in Texas for hotel investors. A very small new hotel room supply pipeline and ... Read More »

10-Story Marriott Going Up Next to Exxon Mobil Campus in Springwoods Village

SPRING, Texas — Construction has started on the 337-room Marriott CityPlace hotel in the Springwoods Village community, where the Exxon Mobil campus is located in north Houston. Dallas-based Woodbine Development in partnership with CDC Houston and USAA Real Estate Co. announced the 10-story hotel project, slated to open in November 2018. The Marriott hotel anchors the eastern end of CityPlace, ... Read More »

Sugar Land Industrial Property Sold

SUGAR LAND, Texas – Dalfen America Corp., part of a Canadian industrial real estate investment company, has sold the 330,674-SF Gillingham Distribution Center in to Gillingham DC, LLC. The property is located in the Sugar Land Business Park, near Beltway 8 and Highway 90A. The sale includes five acres of developable land that could handle as much as 80,000 SF ... Read More »

CBRE: Holiday Inn Sale One of a Spate of Hotel Deals in Houston

HOUSTON – PKRS Management purchased the 125-room Holiday Inn Express & Suites Houston Northwest on Huffmeister Road from Cypress Hotels Inc. Eric Guerrero, Michael Yu and Rahul Bijlani, of CBRE Hotels in Houston, represented both sides of the deal. On the trailing twelve months, this sale represents the 20th South Central U.S. hotel transaction for these CBRE Hotels’ professionals in ... Read More »

Trump Hotels Eyes Expansion Into Dallas, Other American Markets

LOS ANGELES – Trump Hotels is eyeing an expansion in the United States including adding a hotel in Dallas, according to Bloomberg News. “There are 26 major metropolitan areas in the U.S., and we’re in five,” Trump Hotels CEO Eric Danziger said Tuesday at the Americas Lodging Investment Summit in Los Angeles, Bloomberg reported. “I don’t see any reason that ... Read More »

Upscale Hotel to Open in March in Bryan, Texas

BRYAN, Texas – The Stella, an upscale hotel, is being developed in Bryan by the William Cole Co., a Texas-based firm led by Spencer Clements and David Segers. The 176-room hotel, slated to open in March, is the centerpiece of the Lake Walk Town Center and the Atlas corporate campus. In Canada, the William Cole Co. is also developing The ... Read More »

Dine-In Theater to Anchor Final Phase of Vista’s LaCenterra Development

HOUSTON — Houston‐based developer Vista Equities Group and Amstar Group, its equity partner, are preparing to start development on the final phase of its LaCenterra at Cinco Ranch mixed-use development on the Grand Parkway. The last phase will be anchored by a 37,000 SF Alamo Drafthouse Cinema, which will have eight auditoriums and an adjacent bar with outdoor patio seating. ... Read More »

Six Hotels on the Drawing Boards in Shenandoah

SHENANDOAH, Texas – Six hotels are proposed or under construction in Shenandoah, a community located in Montgomery County, north of Houston. A Home2 Suites by Hilton is under construction, reports Community Impact Newspaper. Also proposed are a Cambria Hotel, an Aloft, an Even Hotel by IMG, a Hampton Inn and an Elements hotel. Shenandoah, located along Interstate 45 near The ... Read More »

Canadian Firm Buys Houston Hotel

HOUSTON – Prime Real Estate Group, a Canada-based organization, has purchased the 207-room Holiday Inn Houston Southwest-Sugar Land Area. Michael Yu, Rahul Bijlani, Eric Guerrero and Agrama Mannapperuma of CBRE Hotels’ in Houston represented the seller, K&K Hotel Group, in the transaction. The buyer was also represented by CBRE Hotels. The hotel, located at 11160 Southwest Freeway in Houston, near ... Read More »

Goldman Sachs Backing Launches Construction of Austin High-Rise

AUSTIN – Goldman, Sachs & Co. has joined forces with the Kor Group in developing a 33-story hotel and condominium project in downtown Austin. The 500,000 SF project, called Proper Hotel & Residences, will break ground in the second quarter and is slated for completion in 2018. The Proper Hotel will have 244 hotel rooms and 99 condos priced at ... Read More »

Hotel Alessandra Construction Reaches Topping Out Milestone

HOUSTON – Midway Cos. announced that Hotel Alessandra – a 223-room upscale hotel under construction in downtown Houston – has topped out. The 20-story hotel, developed in partnership in conjunction the Valencia Group, a Houston-based hotel firm, will be open in mid-2017. Hotel Alessandra is part of Midway’s GreenStreet mixed-use development, which covers three blocks in downtown Houston along Dallas ... Read More »

New Hilton Brand Opens Hotel in Stafford, Near Houston

STAFFORD, Texas – Home2 Suites, an extended-stay hotel brand by Hilton, has opened near the Southwest Freeway in the Houston suburb of Stafford. The 91-unit suites hotel is located at 11121 Fountain Lake Drive, near South Kirkwood Road. Owned and managed by Everwood Stafford LLC, Home2 Suites by Hilton Houston Stafford offers fully-equipped kitchens and modular furniture allowing for guests ... Read More »

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