New York, New York (PRWEB) September 03, 2014
This morning, Fulcrum Hospitality LLC (“Fulcrum”) announced the acquisition of the 811-room Hyatt Regency DFW International Airport in Dallas, Texas, partnering with a fund managed by AllianceBernstein U.S. Real Estate Partners (“AllianceBernstein”). Hyatt Hotels & Resorts will continue to operate the property. Fulcrum will also serve as asset manager of the hotel on behalf of the collective ownership group.
“We are excited to be investing in such a high-quality hotel, particularly given its strategic location adjacent to Terminal C inside DFW International Airport,” noted Steven Angel, Fulcrum’s Principal and Founder. “We believe the vibrancy of the North Texas region combined with the growth of DFW -- the fourth busiest airport in the U.S. -- and the recovery of group-oriented lodging demand make this property a compelling investment for our firm.”
This transaction marks Fulcrum’s third equity investment with an affiliate of AllianceBernstein and its fourth lodging investment. Fulcrum’s Chief Operating Officer, Cheryl Boyer, commented, “we continue to be attracted to investing in compelling hotels where we can partner with great property management teams to achieve exceptional results. We think the acquisition of the Hyatt Regency DFW is a perfect embodiment of that strategy.”
Fulcrum Hospitality is a boutique operating partner, asset manager, and transaction advisor in the lodging and gaming space. Founded by former Goldman Sachs Managing Director Steven Angel, the firm has principal investments in hospitality assets, maintains acquisitions relationships with major investment banks and institutional private equity firms, and asset manages or advises on over 10,000 hotel rooms worldwide.