Pacific Hospitality Acquires, Opens Dallas Hotel
- Apr 30, 2018
Pacific Hospitality Group has acquired and opened the 256-key, dual-branded AC Hotel and Residence Inn Dallas by the Galleria. The firm bought the five-story structure from the developer, a joint venture ofAtlantic Hotels Group and Civitas Capital Group, funding the purchase with a $34.4 million loan, according to public records. The seller broke ground on the development in 2016.
Located at 5460 James Temple Drive in Dallas, the building is positioned near the center of the $3.5 billion Dallas Midtown a mixed-use redevelopment project. A stone’s throw from the intersection of Interstate 635 and the Dallas North Tollway, the asset is approximately 10 miles from the city’s downtown core.
AC Hotel Dallas by the Galleria contains 140 guestrooms, with the Residence Inn offering 116 suites targeted primarily at longer-term visitors. Both hotels share a range of amenities, including complimentary Wi-Fi, 17,020 square feet of meeting space, a fitness center, an outdoor pool and laundry facilities. Parking is available on-site for an additional daily charge.
“The AC Hotel and Residence Inn Dallas by the Galleria is our company’s first hotel in Texas and our first dual-branded Marriott property,” said Tim Busch, CEO & founder of PHG, in a prepared statement. “This property offers two unique and complementary options that leisure and business travelers, alike, will appreciate.”
Image courtesy of Pacific Hospitality Group