posted on June 13, 2011 01:12
The 224-room, full-service Hilton Dallas/Park Cities hotel has sold to Apple Nine Hospitality Ownership Inc. for an undisclosed amount of money.
The acquisition of the hotel will lead to additional renovations and updates by the new owner, officials said.
Apple Nine Hospitality, of Richmond, Va., anticipates the property likely will be a strong performer for years to come, said Sam Reynolds, senior vice president and director of acquisitions for the firm.
Holliday Fenoglio Fowler L.P. represented the undisclosed seller of the property at 5954 Luther Lane in the Preston Center area. The sale of the hotel provides additional evidence of the rapid recovery of the hotel sector, according to HFF officials.
The hotel was built in 2001 and features 5,000 square feet of meeting space, a 24-hour fitness center, a full-service restaurant and bar, outdoor swimming pool, among other amenities. It was renovated in 2010.
6/2/11, Candace Carlisle, Dallas Business Journal