Hodges Ward Elliott (“HWE”) is pleased to offer the opportunity to acquire the TownePlace Suites Dallas Lewisville (“Property” or “Hotel”), located within the nation’s fourth largest and fastest growing MSA. The 118-room Hotel is surrounded by over 86 million square feet of office and industrial space, including numerous corporate headquarters, and is approximately 10 minutes away from Dallas/Fort Worth International Airport, the third busiest airport in the world. The fee simple offering represents the opportunity to own an institutional-quality, extended-stay hotel in one of the Sun Belt’s fastest-growing metropolitan areas.
| Address | |
| Year Opened | 2009 |
| Keys | 118 |
| Stories | 4 |
| Site Area | ± 2.67 Acres |
| F&B | Complimentary Breakfast |
| Parking Spaces | 137 |
| Amenities |
|
| Interest Conveyed | Fee Simple |
| Management | Unencumbered |
| Labor | Non-Union |
Investment Highlights
Lewisville, TX – An Essential Part of Booming North DFW Corridor
Located in the fourth largest metropolitan area in the United States
Growing satellite city about 25 miles away from both downtown Dallas and Fort Worth
Located alongside Interstate 35E, Interstate 635, and the Sam Rayburn Tollway, providing incredible access to the greater metroplex
Population growth of 42.7% since 2010
Major employers like Sysco Corporation and Mary Kay contribute to the city's economic development
Under eight miles / a 10-minute drive from the DFW Airport
Robust Demand with Healthy Business/Leisure Mix
The Property boasts an exceptional location in the growing North Dallas corridor and is surrounded by over 86 million square feet of office and industrial space within a five-mile radius. It is conveniently situated near major corporate entities, including Sysco Corporation, and is less than two miles away from Mary Kay’s Research and Development Center which employs over 650 people. Additionally, the North Dallas corridor is a hub for major distribution centers, such as Amazon, MQ Power, Rheem Air and Water, RR Donnelley, and All-State Industries.
Furthermore, the Hotel is located within a five-mile radius of more than 19 million square feet of diverse retail spaces, offering some of the top retail and entertainment offerings in the DFW metroplex. It's less than 15 minutes away from Grapevine Mills, which boasts 22 anchor stores and 200 retail outlets within its 1.8 million-square-foot complex. Recently ranked the #8 best mall in the country by USA Today, this Simon Properties-owned mall is a significant economic center for the area, attracting millions of visitors annually. Grapevine Mills not only offers world-class shopping and dining, but it's also home to popular entertainment attractions such as LEGOLAND Discovery Center, SEA LIFE Grapevine Aquarium, and the new Meow Wolf Grapevine, an immersive art-based experience center.
Proximate to the 3rd Busiest Airport in the World
Third busiest airport in the world, 7.4% increase in 2024 passenger traffic
Within a four-hour flight to any major destination in the continental U.S.
Recently initiated the construction of a $1.63 billion expansion
American Airlines and DFW plan to spend another $3.2 billion on other improvements
Ascending Operating Performance
Since 2022 (post COVID) the Property has consistently achieved an occupancy penetration rate between 103% and 108% versus its comp set and RevPAR penetration between 99% and 105%. Following a change of ownership PIP (Marriott to award a new 15-year license) the Hotel will be in a position to drive ADR, resulting in an increase in RevPAR and cash flow.
Development Potential
Included in the sale is a 1.1-acre parcel (currently parking and a sports court) located directly behind the hotel.
Fee Simple, Non-Union, Unencumbered by Management
The Property is offered fee simple and free and clear of existing management and financing, affording new ownership maximum optionality in the future operation and capitalization of the Hotel.
Marriott Brand Adds Significant Value
The Property benefits from its affiliation with Marriott, the world’s most recognizable and top-performing hospitality brand. Marriott provides centralized marketing, booking, and rewards systems, providing the Hotel with access to over 228 million Marriott Bonvoy members. TownePlace by Marriott is a top-tier brand and arguably one of the most valuable franchise brands in the limited-service space in the US. The brand currently has approximately 525 Properties in the United States, serving as one the most prominent hotel chains in the country. Marriott’s commitment to, and trust in the brand, can assure investors that TownePlace Suites is a reliable line of hotels to be involved in.
