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Category Archives: Hospitality

Moving on Up – Luxe Realty Agents Invade Texas to Advance the Pursuit of Super-Rich Buyers

HOUSTON – (By Ralph Bivins of Realty News Report) — You’re feeling lucky. Nabbing one of the ten free parking spots in the garage is a miracle in this glitz palace. But plebeians who want to avoid giving six bucks to the parking valet don’t venture on these premises often. This is Tilman Fertitta’s The Post Oak Hotel and rooms ... Read More »

With Renovations Underway, GreenStreet Refinanced with $140 Million Loan

HOUSTON – (Realty News Report) – JLL has arranged a $140 million refinancing of GreenStreet, a 617,000-SF mixed use development in downtown Houston. JLL worked on behalf of the borrowers, Lionstone Investments and Midway to secure the loan, which was provided by Blackstone Real Estate Debt Strategies. GreenStreet, covering four blocks near the intersection of Fannin and Lamar, is undergoing ... Read More »

Tilman Fertitta Closes on Purchase of Del Frisco’s Steakhouse Chain

HOUSTON – (Realty News Report) – Houstonian Tilman J. Fertitta announced that Landry’s, Inc. has closed on the acquisition of Del Frisco’s Double Eagle Steakhouses and the Del Frisco’s Grilles. The seller is L Catterton, the largest and most global consumer-focused private equity firm.  The Wall Street Journal said the price was between $300 million and $325 million. Del Frisco’s is ... Read More »

NewcrestImage Hotel Firm Breaks Ground on Office Project in North Texas

GRAPEVINE, Texas – (Realty News Report) – NewcrestImage, a hotel and real estate development company, has started construction on an 80,000 SF four-floor office building in Grapevine, within the company’s 52-acre SilverLake Crossings master-planned development, about two miles north of DFW Airport. The company’s headquarters will occupy one floor of the building when it is completed in the summer of ... Read More »

Historic Petroleum Building Reopening as Cambria Hotel in Downtown Houston

HOUSTON – (Realty News Report) – A 92-year-old building in downtown tower has been redeveloped as the 226-room Cambria Hotel Downtown Houston. The hotel, scheduled to open August 1, will be located in one of Houston’s oldest high-rise office buildings at 1314 Texas Avenue. Joseph S. Cullinan, founder of the Texas Company, an early-day oil firm that became Texaco, developed ... Read More »

Austin is the Best Hotel Market in Texas, a Strong State for Hospitality

AUSTIN – (Realty News Report) – The major hospitality markets in Texas are all solid, with Austin leading the state, reports John M. Keeling, executive vice president of Houston-based Valencia Hotel Group, a leading luxury hospitality management company. “Austin’s hospitality market continues to be strong,” said Keeling. “The city has a diverse economy with high-tech Silicon Gulch, the universities, and ... Read More »

Houston Hotel Listed for Disposition

HOUSTON – (Realty News Report) – A new Houston-area hotel has become a “distressed asset” and is listed to be sold off by CBRE Hotels, according to Rahul Bijlani, senior vice president of CBRE Hotels. Bijlani, speaking at the CBRE press luncheon last week, said the hotel is affiliated with the Marriott chain, but he declined to fully identify the ... Read More »

The State of the Texas Hotel Market

 HOUSTON – (By Dale King, Realty News Report) – Many Houstonians who fled their Hurricane Harvey-flooded and otherwise damaged homes found shelter in a host of different places, among them – obviously – hotels. And many stayed there a good, long time. As a result, the overall Houston hotel market finished 2018 with a revenue per available room (RevPAR) loss ... Read More »

Historic Medical Towers Building in Texas Medical Center to be Redeveloped as Hotel

HOUSTON – (Realty News Report) – The historic Medical Towers building in the Texas Medical Center is being transformed into the 273-room Westin Houston Medical Center hotel. Pearl Hospitality of Houston is redeveloping the 18-story building, which opened in 1954 at 1709 Dryden Road, between Main and Fannin streets. The mid-century modernist building, located across the street from Houston Methodist ... Read More »

InterContinental Hotel Opens Near Medical Center

HOUSTON – (Realty News Report) – The 21-story InterContinental Houston Medical Center has opened on Main Street, marking the return of the upscale InterContinental brand to Space City. Developed by Medistar Corp., a Houston firm led by Monzer Hourani,  the 354-room luxury hotel is located next to the 1,345-acre Texas Medical Center, the world’s largest medical complex. “We are very ... Read More »

Rosenberg Hotel Sold

ROSENBERG, Texas – (Realty News Report) – Illinois-based Imeri Enterprise purchased the 56-room La Quinta Inn & Suites Rosenberg at 28332 Southwest Freeway. The seller was Houston-based Gayatri International LLC. “We are finding that buyers from all over the country are drawn to Texas because of the booming economy,” said CBRE Vice President Dennis Drake. The transaction was arranged by ... Read More »

Allen Center’s Redone Hotel Christened with a Surprising Brand Name

HOUSTON – (Realty News Report) – Downtown’s  Doubletree hotel is being rebranded the “C. Baldwin” hotel as part of a redo of the Allen Center development. The C. Baldwin is named after Charlotte Baldwin Allen, who has long been overshadowed by her more high-profile husband, Augustus Chapman Allen, the New York real estate speculator who co-founded Houston with his brother, ... Read More »

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