Asset Class: Hotel
Property Size: 244 Rooms, Full Service Hotel
The existing Hotel (Executive Inn) had been operating as a lower class property with a lower tier brand. Following acquisition, the building was completely redeveloped and converted to a full service Wyndham Hotel. In February of 2015, the hotel was converted to the DoubleTree by Hilton Love Field. The eight-story building is the only building in the area that can exceed three stories (due to FAA regulations). A large amount of surplus land, including a low-rise motel site, was included in the acquisition. Other revenue sources existed on the property (antenna leases, billboard and pad site). Cost per room, after full redevelopment, was projected (and completed) at a very attractive basis.