Hyatt House Dallas Addison Hotel in Addison, TX Listed for Sale

CBRE Hotels is soliciting offers to acquire the fee-simple interest in the Hyatt House Dallas Addison in Addison, Texas. Located close to Addison Airport, the Galleria Dallas, and 30 minutes north of the center of Dallas, the 132-room hotel receives business from a diverse population of both corporate and leisure segments.

Investment Highlights

• • Institutionally-Owned Hyatt House – Opportunity to acquire an institutionally-owned, 132-room, Hyatt House that sits on 4.00 acres of land in Addison, 30 minutes north of the center of Dallas, Texas.
  • Extremely High Barrier to Entry Market – The City of Addison requires significant meeting space and FF&E operations to approve new hotel. This makes Addison one of the most difficult barrier to entry market in the DFW metroplex for select service and extended stay hotels, like this.
  • Significant Management Upside Opportunities – The current hotel has faced substantial operational setbacks since losing its property leadership about one year ago, resulting in significant loss of market share. This provides a lot of room for a better operator to improve on the performance. In addition, the Homewood Suites Addison has just lost its flag without being replaced. The Hyatt House Addison is uniquely positioned to capture that business.
  • Great Opportunity to Convert into WaterWalk by Wyndham – There is an option to convert the hotel to WaterWalk Extended Stay by Wyndham to further drive return on investment for potential buyer. As the upcoming upscale extended stay brand, WaterWalk has proved that its Live/Stay model has significant advantages against traditional extended stay brands. With average length of stay on the Stay side at 90+ days and average length of stay on the Live side at 350+ days, WaterWalk is able to achieve high occupancy level upon stabilization. With this exceptional length of stay, the NOI margin brand wide is at 47% of total revenue, the highest of all upscale extended stay brands. A successful conversion of this hotel into WaterWalk should yield significant increase on Net Operating Profit.

  • ​​​​​​​Convenient Location – The property benefits from close proximity to significant hotel demand generators, including Addison Airport, the Galleria Dallas, and numerous corporate offices, including Hilton, Concentra, and Bennigan, etc. The hotel is also well-connected to the area’s diverse array of restaurants, shops, medical centers, and colleges.
  • Strong Submarket – Situated in Dallas County’s platinum corridor along the Dallas North Tollway, Addison proudly holds the distinction of being the #1 city in Texas to initiate a business and the #1 suburb in Texas for young professionals. Additionally, Addison is a vibrant town pulsating with entrepreneurial energy, hosting a variety of businesses from small start-ups to major corporations, including Mary Kay Cosmetics and Hitachi Consulting. With over 2,000 businesses calling Addison home, it is a thriving hub of economic activity.
  • Dynamic and Thriving Economic Landscape with Continued Growth – Contributing about one-third of Texas’ GDP, DFW’s economy is the most diverse in the state. Thanks to its central location, low cost of living, world-class cultural and art institutions, state-of-the-art hospitals, universities, and robust transportation connectivity, DFW has become a top relocation destination for corporations and job seekers alike

For inquiries visit CBRE.