Highline Hospitality Partners has acquired the Hilton DFW Lakes Executive Conference Center marking the company’s second acquisition in the last month.
HHP—the hospitality investment platform launched by Birmingham, Ala.-based Highline Real Estate Partners—acquired the Pittsburgh Marriott North in February. Located on roughly 29 lakeside acres in Grapevine just north of Dallas Fort Worth International Airport, the 397-room hotel has roughly 72,000 square feet of indoor meeting space. Highline has engaged Plano, Texas-based Avion Hospitality to manage the hotel, expanding an existing strategic partnership between the two companies.
“We are excited to add the Hilton DFW Lakes to our portfolio and to expand our relationship with Avion,” said Chuck Pomerantz, managing partner of Highline Hospitality Partners. “This institutionally owned, high-quality asset is an attractive addition given its strategic location in the DFW submarket, the diverse and stable demand generators upon which it draws and its product featuring a market-leading meeting space offering that differentiates the hotel relative to its competitive set.”
Founded in 1983, the hotel has been institutionally owned and maintained with ongoing capital investment in recent years. Highline plans to pursue targeted renovations in the coming years, with a primary focus on meeting space upgrades designed to further strengthen the hotel’s competitive positioning. Amenities include three full-service restaurants, a coffee bar and snack shop, indoor and outdoor pools, hot tubs, 12 pickleball courts, three tennis courts, a basketball court, a sand volleyball court, jogging and walking trails and access to a five-acre private lake.
With the addition of the property, Highline Hospitality Partners now oversees a portfolio of 18 hotels totaling more than 5,000 guestrooms and nearly $1.5 billion in hospitality assets under management. The firm also provides third-party asset management oversight for four additional hotels on behalf of an institutional ownership group, bringing the total number of properties under Highline’s oversight to 22.