Hospitality

Austin Hotel REIT Buys Hotel in Las Colinas for $10.5 Million at 7.7 Percent Cap Rate

Realty News ReportJune 1, 2016

by Realty News ReportJune 1, 2016

IRVING, Texas – Austin-based Summit Hotel Properties sold its 128-room Holiday Inn Express & Suites located in the Las Colinas project in Irving, near Dallas for $10.5 million. The...

Valencia has Discovered a New Hotel Development Niche that Others May Soon Imitate

Realty News ReportApril 30, 2016

by Realty News ReportApril 30, 2016

HOUSTON – Houston-based hospitality firm Valencia Group believes it has found a niche for further hotel expansion: college towns. The firm — which is building...

Oil’s Impact on Houston Hotel Development: The Q&A with Randy McCaslin

Realty News ReportApril 24, 2016

by Realty News ReportApril 24, 2016

Houston’s lodging sector remains relatively strong, particularly with billions in petrochemical plants under construction in East Houston, expansions at the Texas Medical Center, last year’s...

A Ritz-Carlton, Perhaps? – Simon Plans 30-Story Hotel/Condo Tower in The Galleria Complex

Realty News ReportApril 7, 2016

by Realty News ReportApril 7, 2016

HOUSTON – Simon Property Group says it will move ahead with its plan to build a 30-story hotel and condo tower, probably similar to a...

New Westin Adds to Hotel Inventory in The Woodlands

Realty News ReportMarch 26, 2016

by Realty News ReportMarch 26, 2016

HOUSTON – A new Westin has opened, adding to the hotel inventory in The Woodlands. The Westin at The Woodlands opened its doors in Town...

Florida Group Buys Sheraton Hotel near Houston Airport

Realty News ReportMarch 11, 2016

by Realty News ReportMarch 11, 2016

HOUSTON – The Ecclestone Organization has acquired the 419-room Sheraton North Houston at George Bush Intercontinental Airport. The 10-story hotel, 15700 JFK Boulevard, was built...

Transwestern to Lease the 40-Story KBR Tower in Downtown Houston’s Cullen Center

Realty News ReportMarch 7, 2016

by Realty News ReportMarch 7, 2016

HOUSTON – Transwestern will lease the 40-story KBR Tower and the 20-story 500 Jefferson buildings in downtown Houston. Combined, the two buildings have 1.4 million...

Q&A with David Songy, Developer of Two New Hotels in Houston’s Galleria Area

Realty News ReportFebruary 15, 2016

by Realty News ReportFebruary 15, 2016

HOUSTON – Showing its confidence in the Houston lodging market, Atlanta-based commercial real estate firm Songy Highroads, LLC has opened not one but two hotels...

Songy Develops Two Hyatt Hotels Next to Galleria

Realty News ReportFebruary 5, 2016

by Realty News ReportFebruary 5, 2016

HOUSTON – Atlanta-based Songy Highroads has opened Hyatt Place Houston Galleria, a 157-room, select-service hotel located across from the Galleria shopping center. The 12-story hotel,...

35-Story Apartment Tower Planned Next to Texas Medical Center

Realty News ReportFebruary 1, 2016

by Realty News ReportFebruary 1, 2016

HOUSTON – A joint venture of Greystar and Medistar Corp. have announced plans to develop Ascent Med Center, a 35-story apartment project on the western...