New Castle Hotels & Resorts (NCH) has acquired the 55-room, historic LaSalle Hotel in Bryan, TX. The property, which was built in 1928, will join the Tribute Portfolio by Marriott after an extensive interior and exterior renovation. Municipal incentives from the City of Bryan and historic tax credits will help support projected capital improvements of $110K per key.
Bryan is at the epicenter of Texas’ five major metropolitan areas, Dallas, Fort Worth, Houston, Austin and San Antonio and is the sister city of College Station, home to Texas A&M University.
“New Castle has a long history of acquiring historic hotels and repositioning them for new generations of travelers,” said Jeremy Buffam, partner, NCH. “The LaSalle fits this model precisely and Marriott’s Tribute flag is the perfect branding affiliation for a cherished small-city treasure.”
“This partnership ensures that the LaSalle, a critical historical asset in Downtown Bryan, is preserved and celebrated,” said Bryan Mayor Andrew Nelson. “It is a testament to how far we’ve come to build the birthplace of Aggieland into a thriving, culturally rich destination for years to come.”
Julian Buffam, partner, NCH, added, “The overall market fundamentals for Bryan/College Station are very strong. Hotel performance is well above 2019, and we are confident that these numbers are not temporary; many similarly situated hotels in the market are having phenomenal years. In addition, the city has invested heavily in developing Bryan as a recognized cultural arts district, which plays very well with a historic boutique hotel of this quality.”
The LaSalle, which features a subterranean speakeasy and a lobby-level bar/restaurant, will operate as an independent hotel through fall of 2023.
