Ten-X Auction: April 5, 2021 - April 7, 2021 - Starting Bid: $2,400,000
Investment Highlights:
High Quality, Select-Service Asset: The Hyatt Place Dallas-Allen is a premier upscale Hotel featuring 104 spacious guest rooms and several amenities of a well-positioned select-service asset. Opened in 2017, the four-story Hotel is in impeccable condition with a minimal change of ownership PIP. The upscale, select-service hotel features a restaurant and bar, outdoor pool, fitness center, business center, and 1,600 SF of meeting space. Guest rooms offer a flat-screen television, separate seating area, and sofa bed.
Strong Corporate, Group, and Leisure Demand Generators: The city of Allen, located in the Dallas-Fort Worth MSA, is the 27th fastest-growing city in the nation. The Hotel is in the middle of Allen Business District, centrally located between Dallas, McKinney, The Colony, and Plano. Furthermore, the Hotel is minutes away from the 121 Corridor, a 35-mile stretch between DFW International Airport and Highway 75, offering over 900 acres for corporate and mixed-use developments including Toyota’s North American Headquarters. Additional corporate demand generators in the area include corporate offices of JP Morgan Chase, JC Penny’s, Alliance Data, Frito Lays & Keurig Dr. Pepper. The Hotel is located 9.6 miles north of the CityLine development, a 186-acre mixed-use entertainment district which includes State Farm Insurance headquarters and corporate offices belonging to Blue Cross Blue Shield health insurance, Geico and Raytheon. The immediate area is also home to Allen Premium outlets, an award-winning golf course, approximately 200 restaurants, and several other entertainment and leisure activities.
Premier Hyatt Branded Asset: The Hotel maintains brand affiliation with Hyatt Hotels Corporation, one of the trusted names in hospitality, and benefits from one of the best guest loyalty programs in the lodging industry. For over 50 years, Hyatt has continued its leadership and brand recognition amongst travelers, owners, and franchisees.
Clean Offering: Offering includes Fee Simple interest in the 104-room Hyatt Place Dallas / Allen located in Allen, Texas in the Dallas-Fort Worth metropolitan statistical area, offered unencumbered of management contract and debt.
Property Overview:
The 104-room, four-story Hyatt Place Dallas Allen is positioned off Highway 75 conveniently located off exit 34. The upscale, select-service hotel features a restaurant and bar, outdoor pool, fitness center, business center, meeting space, and dry cleaning services. Guest rooms offer a flat-screen television, separate seating area, and sofa bed.
Location Highlights:
The University of Texas at Dallas: The campus is located 10 miles south of the property and as of Fall 2019, the school has over 29,500 students enrolled. This provides additional business to the area for transient travelers and family visitors.
Convenient On/Off Ramp Access to Highway 75: The Hyatt Place Dallas Allen is located along Highway 75 with convenient access to and from the highway through exit 34.
Large Shopping Outlets Nearby: Multiple shopping centers that include Allen Premium Outlets, Cabela’s, The Village at Allen, and Fairview Town Center are all positioned less than two miles north of the subject property; the Allen Event Center is also within two miles of the hotel.
