The hotels were among the NewcrestImage portfolio, which was purchased by Summit Hotel Properties for $776.5 million, the release stated. Properties in Dallas, Houston, Amarillo, College Station, Longview, Midland, Lubbock, Tyler, Oklahoma City and New Orleans were also obtained from NewcrestImage.
The hotels with new ownership in Frisco, Plano and Grapevine are:
- AC Hotel Dallas Frisco, 4343 Frisco Green Ave., Frisco
- Residence Inn Dallas Frisco, 4343 Frisco Green Ave., Frisco
- Canopy by Hilton Dallas Frisco Station, 4455 Frisco Green Ave, Frisco
- Courtyard Dallas DFW Airport North/Grapevine, 2200 Bass Pro Court, Grapevine
- TownePlace Suites Dallas DFW Airport North/Grapevine, 2200 Bass Pro Court, Grapevine
- Hilton Garden Inn Grapevine at Silverlake Crossings, 2240 Bass Pro Court, Grapevine
- Holiday Inn Express & Suites DFW Airport-Grapevine, 309 SH 114 W., Grapevine
- Hyatt Place Dallas/Grapevine, 2220 Grapevine Mills Circle West, Grapevine
- Hyatt Place Dallas/Plano, 3100 Dallas Parkway, Plano
The initial closing included 26 of 27 hotels totaling 3,533 guest rooms, two parking structures and various financial incentives, the release stated. Summit Hotel Properties will also gain the under-construction Canopy by Hilton New Orleans when it is completed later this year.
Summit Hotel Properties focuses on “owning premium-branded hotels with efficient operating models primarily in the upscale segment of the lodging industry,” according to the release. Upon closing of the Canopy by Hilton New Orleans, the company’s portfolio will include 101 hotels with a total of 15,227 guest rooms in 24 states. www.shpreit.com
