Hotel Capital, LLC Acquires Holiday Inn Market Center in Dallas, Texas
Hotel Capital LLC, a private equity real estate investment firm, is pleased to announce a direct equity investment and acquisition of the Holiday Inn Market Center located in Dallas, Texas. The nine-story, 200-room, 16 suite hotel located at 4500 Harry Hines Boulevard was acquired through seller Market Center DFW Hotel Fund, LLC, a Texas limited liability company.
Hotel Capital's CEO, Michael Collier, commented on the transaction, “We are really excited about this acquisition, as we have focused on investing in Dallas for many years but just couldn't find the right deal until this one. The Market Center location is one of the best-performing sub-markets in Dallas and an area that is experiencing a revitalization and a tremendous amount of new investment on the horizon.”
Last renovated in 2008, the hotel will undergo another extensive, multimillion dollar renovation to be converted into one of Marriott's newest brands Delta, an upscale Canadian hotel chain acquired by Marriott in 2015. Extensive enhancements to guest centric areas, a complete redesign of the lobby and F&B areas, and the addition of 10 rooms will be included in the renovation. Once complete, the all-in fully renovated project cost will be approximately $25mm.
“This was a very difficult project to finance due to the remaining limited term on the Holiday Inn license and not being able to start the Marriott renovations for almost 2 years to become a Delta,” commented Collier.
Current hotel amenities include a restaurant, bar, gift shop, outdoor pool and sun deck, 24-hour fitness center, business center, and meeting rooms.
About Hotel Capital
Hotel Capital, founded by Michael Collier in 2010, is the lead investment vehicle for all direct debt and equity investments, and serves as an asset manager for public trust funds, family offices, and high net worth individuals. Hotel Capital is a nationwide investor and lender specifically for the hospitality industry. For more information on Hotel Capital's programs and transactions contact us at 317-632-5555, info@hotelcapital.com, or visit us online at www.hotelcapital.com.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
