Top Hotel Management Company Adds Hilton Garden Inn Dallas/Market Center to Portfolio
PRLog - Jan. 8, 2015 - IRVING, Texas -- Pillar Hotels & Resorts recently announced the addition of the Hilton Garden Inn Dallas/Market Center to its management portfolio on December 30, 2014. The transaction was in partnership with an affiliate of Highland Capital Management, a $20 billion investment management firm headquartered in Dallas, TX. Highland Capital and its affiliates are currently owners and sponsors of other real estate assets, but this acquisition marks their entry into the hospitality space as well as the first partnership between the two organizations.
“We are excited to have the opportunity to work with one of the preeminent global alternative credit and equity managers,” said Chris Russell, Chief Executive Officer at Pillar Hotels & Resorts. “We look forward to helping Highland unlock the full potential of this asset through improved operations and a top-to-bottom renovation of the property.”
The Hilton Garden Inn is strategically located in one of the nation’s fastest growing regional economies and across the street from Dallas Market Center, the most complete wholesale merchandise market in the world. Additionally, it is proximate to the newly expanded Dallas Medical District, Dallas Love Field, and one of the South’s largest convention hotels, the Hilton Anatole. Dallas is home to 18 Fortune 100 companies and maintains a large corporate presence, is a major transportation hub, and benefits from a robust and diversified economy.
The Hilton Garden Inn Dallas/Market Center received a lobby renovation in January 2014 and a full property renovation is slated for fall 2015. Pillar currently provides third-party management services for 47 Hilton properties and two other Hilton Garden Inn hotels located in Fort Worth/ Fossil Creek, Texas and West Monroe, Louisiana.
"I am excited to lead operations at the Hilton Garden Inn and grow our relationship with Highland Capital," said David Weston, who was appointed General Manager of the hotel. “This property provides both business and leisure guests with relaxing and convenient amenities, and is a great base from which to explore all that Dallas/Fort Worth metroplex has to offer.”
The 240-room hotel offers a 24-hour Pavilion Pantry Market, a 24-hour business center, an on-site convenience store, bar and lounge area, and The Great American Grill®, a full-service restaurant. Guests enjoy room service, a pool and fitness center, free Wi-Fi and complimentary shuttle service within a 5-mile radius, including transportation to Dallas Love Field. The hotel also boasts 6,000 sq. ft. of event space and in-house catering services to accommodate weddings and corporate gatherings.
Hilton Garden Inn Dallas/Market Center is located at 2325 North Stemmons Freeway, Dallas, Texas, 75207. For more details, visit DallasMarketCenter.HGI.com or call +1 (214) 634-8200.
About Pillar Hotels & Resorts
Pillar Hotels & Resorts is one of the largest independent management companies in the United States with over 200 select service, extended stay and full-service hotels. Pillar represents well-respected brands including Marriott, Hilton, Hyatt and IHG. The company offers hotel management, back office solutions, revenue management and a full-service construction company specializing in renovations, repositioning and new construction. Owner-ready information technology, scalability, and operational integrity make Pillar a best-in-class company that consistently delivers exceptional results. For more information, visit PillarHotels.com and follow @PillarHotels on Twitter.
About Highland Capital Management
Highland Capital Management, L.P. is an SEC-registered investment adviser which, together with its affiliates, manages approximately $20 billion in client assets. Founded in 1993 by Jim Dondero and Mark Okada, Highland is one of the largest and most experienced global alternative credit managers. Highland specializes in credit strategies, such as credit hedge funds, long only funds and separate accounts, distressed and special situation private equity, and collateralized loan obligations (CLOs). Highland also offers alternative investments including emerging markets, long/short equities, real estate and natural resources. Highland’s diversified client base includes public pension plans, foundations, endowments, corporations, financial institutions, fund of funds, governments, and high net-worth individuals. Highland is headquartered in Dallas, Texas and maintains offices in New York, Sao Paolo, Singapore, and Seoul. Visit HighlandCapital.com and follow @HighlandCapMgmt on Twitter.
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Pillar Hotels & Resorts Partners with an affiliate of Highland Capital Management for Hilton Transition
January 08, 2015 at 09:00 AM EST
