The Hyatt Place Dallas/Las Colinas was recently sold by an affiliate of Summit Hotel Properties, Inc.
The purchaser is an undisclosed private investment group from the Dallas-Fort Worth area, according to Tandy O. Lofland, CEO of Intergroup Realty, Inc., and Mark J. Rome, president of MJ Rome, whose firms advised the seller.
This is the second recent transaction between the seller and purchaser arranged by Lofland and Rome.
The 122-room hotel is located in a 12,000-acre, upscale Las Colinas mixed-use development, one of the largest master-planned communities in the United States.
The property is set to undergo upgrades and improvements and will continue to operate as a Hyatt Place franchise.
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