IHG Bringing 223-Key InterContinental® Hotels & Resorts to Cityplace Tower in Dallas, Texas, Opening Early 2022

United Kingdom, Denham. September 23, 2019

IHG® (InterContinental Hotels Group), one of the world's leading hotel companies, today announces the development of a new InterContinental® Hotels & Resorts property in Dallas. With 205 InterContinental hotels open worldwide and another 61 in the global development pipeline, IHG continues to expand the brand's portfolio in the most sought-after destinations around the world.

Set to open in early 2022, the luxury hotel will be located in Cityplace Tower, a 42-story mixed-use building in the Uptown neighborhood of Dallas. Featuring 223 stylish rooms, the hotel will occupy eight of the building's 42 floors and will include a restaurant, full bar and lounge. Plans for the restaurant include a fourth-floor terrace overlooking the Uptown neighborhood and downtown Dallas. Additional hotel features include an outdoor pool, fitness center, business center, signature Club InterContinental Lounge and onsite parking.

The InterContinental Dallas Uptown hotel will be owned by NexPoint Advisors, L.P., an affiliate of Highland Capital Management, L.P., and will be managed by IHG. The hotel is an integral part of NexPoint's redevelopment of Cityplace Tower, and is among a series of upgrades included in the first phase of the overall building renovation plans. As part of these enhancements, NexPoint plans to renovate the lobby, introduce concourse-level food and retail offerings and build a new fitness center.

Joel Eisemann, Chief Development Officer, Americas, IHG, commented: We are extremely pleased to be partnering with Highland Capital to bring the InterContinental brand back to Dallas, and offer world-renowned luxury service to business and leisure travelers. With its iconic design, sweeping panoramic views of the Dallas skyline, and premiere Uptown neighborhood location, the Cityplace Tower is a natural fit for an InterContinental hotel. This project will be a tremendous addition to our luxury portfolio in the Americas."

James Dondero, Co-founder and President, Highland Capital Management, said: "We see Cityplace as an opportunity to contribute to the Uptown area. Selecting the right hotel operator was a top priority, and we are excited to partner with IHG."

The hotel will be located in the northeastern edge of the Uptown neighborhood of Dallas, an area that is home to office buildings, residential towers, apartment complexes, restaurants and shops, and considered to be one of Dallas' most desirable live-work-play communities. The hotel will include abundant meeting space, including ballroom and banquet space with large windows featuring unrivaled views of the city. The main entrance will be redesigned to create a grand hotel arrival experience, including a porte-cochere for valet operations and a space for drop-off/pick-up activities.

As the world's first and largest international luxury hotel brand, InterContinental Hotels & Resorts have been pioneering new international destinations for decades. The brand continues its trailblazing heritage with new openings in key cities and emerging destinations, and is experiencing exciting growth in the U.S. Recent hotel openings include InterContinental Washington DC - The Wharf, InterContinental Houston - Medical Center, InterContinental Minneapolis - St. Paul Airport and InterContinental San Diego. Last year, the brand celebrated its 200th hotel with the formidable InterContinental Shanghai Wonderland.

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Food & Beverage: New Technological Innovations

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