Driftwood Capital has acquired the Hilton Dallas/Plano Granite Park. The 299-key hotel is located within the 90-acre master-planned, mixed-use community of Granite Park in the north Dallas suburb of Plano.
This marks the company’s third hotel acquisition in the Dallas-Fort Worth market. It also owns the 231-key Hilton Dallas/Rockwall Lakefront and the 248-key Hilton Dallas Southlake Town Square.
Driftwood Capital plans to renovate the hotel’s guestrooms and meeting space, and Driftwood Hospitality Management (DHM), an affiliate of Driftwood Capital, has assumed management responsibilities.
Accredited investors may have the opportunity to invest in the hotel through Driftwood Capital’s DealDirect investment platform beginning in July.
“In a climate where few properties are trading, we were fortunate to identify and acquire a high-quality, cash-flowing hotel asset in an exceptional location underpinned by strong corporate and leisure demand within the Dallas-Fort Worth Metroplex, which is one of the five fastest growing economies in the U.S.,” said Carlos Rodriguez Sr., CEO, Driftwood Capital.
Hotel amenities include an outdoor pool, two on-site dining options, Carso Market for ready-made meals and coffee, a fitness center and a business center. The hotel also has 33,833 sq. ft. of versatile meeting and event space.
Granite Park is adjacent to Legacy Central Business Park and includes tenants such as Fannie Mae, Coca-Cola North America, Ford Motor Credit and Vine Oil and Gas.
