Hotels in Frisco, Grapevine and Plano are now owned by real estate investment trust Summit Hotel Properties, according to a Jan. 13 press release. (Courtesy of Hilton)
Hotels in Frisco, Grapevine and Plano are now owned by real estate investment trust Summit Hotel Properties, according to a Jan. 13 press release.
The hotels are part of the NewcrestImage portfolio, which was purchased by Summit Hotel Properties for $776.5 million, the press release said. Properties in Dallas, Houston, Amarillo, College Station, Longview, Midland, Lubbock, Tyler, Oklahoma City and New Orleans were also acquired from NewcrestImage.
The newly owned hotels in Frisco, Plano and Grapevine are:
- AC Hotel Dallas Frisco, 4343 Frisco Green Ave., Frisco
- Residence Inn Dallas Frisco, 4343 Frisco Green Avenue, Frisco
- Canopy of 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 closure included 26 out of 27 hotels with a total of 3,533 guest rooms, two parking garages and various financial incentives, the statement said. Summit Hotel Properties will also receive the under-construction Canopy by Hilton New Orleans when it is completed later this year.
Summit Hotel Properties is focused on “owning premium branded hotels with efficient operating models primarily in the upscale segment of the lodging industry,” according to the release. After the closure of 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
