|
The Dallas Fort Worth International Airport board of directors approved the purchase of the Hyatt Regency DFW Hotel during the Aug. 6 meeting.
The transaction, approved by the Public Facility Improvement Corp. on July 29, is for an amount not to exceed $193.65 million from Woodlake HRDFW Hotel Owners, LLC for the property at 2334 N. International Parkway.
The details: The Public Facility Improvement Corp., or PFIC, will assume the lease between the hotel and the DFW Airport Board. The final approval will need to be approved by the owner cities, Fort Worth and Dallas, according to documents.
The 40-year lease on the facility had an initial term that started Oct. 23, 1986, with two 20-year extensions and a 19-year extension that follows.
Zooming in: This would be the fourth hotel operated by the PFIC at DFW Airport. According to documents, the group also operates and manages The Grand Hyatt Hotel, the Hyatt Place Hotel and the Hyatt House Hotel, which is scheduled to open in 2027.
|