A northwest Dallas hotel has marketed as element of a much larger transaction by Omni Accommodations & Resorts.
The Dallas-based agency has offered the Omni Dallas Lodge at Park West on LBJ Freeway along with lodges in Houston, San Antonio, Austin and Jacksonville, Fla.
Omni past summer months said it prepared to peddle the properties as component of a program to make new investments in convention heart and vacation resort inns.
“In August 2020, we declared our intent to go after the sale of 5 resorts that no for a longer time align with the strategic path of Omni Hotels & Resorts,” Omni president Peter Strebel mentioned in a assertion. “Today, we are satisfied to ensure the sale of the subsequent accommodations – Omni Dallas Hotel at Park West, Omni Houston Resort at Westside, Omni San Antonio Resort at the Colonnade, Omni Jacksonville Resort and Omni Austin Lodge at Southpark.
The sale closed Feb. 25. Facts of the transaction weren’t disclosed. Bloomberg had previously claimed the accommodations were being below agreement to a U.K. firm, London & Regional Qualities, for an estimated $150 million value tag. Dallas County deed documents detect a have confidence in corporation in Wyoming.
“The new operator will transition the hotels out of the Omni system afterwards this calendar year,” Strebel stated. “We’re grateful to all of the Omni leaders and associates who made these 5 accommodations thriving and look forward to reinvesting these funds into the future of our brand.”
The 12-story Omni Dallas Resort at Park West was crafted in 1988 at LBJ Freeway and Luna Highway and incorporates 337 rooms.
Omni has new lodge jobs in Oklahoma Metropolis, Boston and Frisco. For the final 25 yrs, the business has been owned by Dallas billionaire Robert B. Rowling’s TRT Holdings.
The Dallas resort sale by Omni is the most up-to-date in several these home transactions in North Texas following the outbreak of the COVID-19 pandemic. Grapevine-primarily based NewcrestImage just ordered downtown Dallas’ landmark Magnolia Resort with designs for updates.