Dallas’ Omni at Park West hotel sells as part of 5-property deal

A northwest Dallas lodge has offered as part of a larger sized transaction by Omni Hotels & Resorts.

The Dallas-centered agency has bought the Omni Dallas Resort at Park West on LBJ Freeway along with motels in Houston, San Antonio, Austin and Jacksonville, Fla.

Omni very last summer time reported it prepared to peddle the attributes as part of a prepare to make new investments in convention heart and vacation resort lodges.

“In August 2020, we declared our intent to go after the sale of five motels that no for a longer period align with the strategic route of Omni Lodges & Resorts,” Peter Strebel, president, Omni Accommodations & Resorts, reported in a statement. “Today, we are happy to ensure the sale of the adhering to accommodations – Omni Dallas Resort at Park West, Omni Houston Lodge at Westside, Omni San Antonio Hotel at the Colonnade, Omni Jacksonville Lodge and Omni Austin Resort at Southpark.

“The sale shut on February 25, 2021 and the new operator will changeover the resorts out of the Omni procedure later on this year,” Strebel said. “We’re grateful to all of the Omni leaders and associates who produced these 5 resorts effective and seem forward to reinvesting these funds into the potential of our brand.”

Facts of the transaction have been not disclosed.

Bloomberg News had formerly documented the motels had been under contract to a U.K. business, London & Regional Houses. The accommodations had been marketing for an believed $150 million, according to Bloomberg.

The 12-tale Omni Dallas Lodge at Park West was developed in 1988 at LBJ Freeway and Luna Street and incorporates 337 rooms.

Omni has new hotel initiatives in Oklahoma City, Boston Lodge and Frisco.

For the last 25 decades, the resort business has been owned by Dallas billionaire Robert B. Rowling’s TRT Holdings.

The Dallas lodge sale by Omni is the most up-to-date in numerous this kind of home transactions in North Texas subsequent the outbreak of the COVID-19 pandemic.

Grapevine-based mostly NewcrestImage just procured downtown Dallas’ landmark Magnolia Hotel with options for updates.