Denver, CO (PRWEB) June 18, 2013
Leigh Hitz, president and chief executive officer for Stout Street Hospitality, today announced the company has been selected to manage the Holiday Inn Dallas Central - Park Cities in the Dallas metropolitan area. The 293-room hotel, owned by TriGate Capital, is centrally located just steps away from the recently opened George W. Bush Presidential Library with easy access to Southern Methodist University, North Park Center, Fair Park/Cotton Bowl, the American Airlines Center, downtown Dallas and more.
“We are excited to take over the management of this recently renovated property because of its prime location near SMU, some of the best shopping in the area and ease of transportation into downtown Dallas, which is a short drive away,” said Hitz. “We have proven experience in the Dallas market with our Magnolia Hotel Dallas downtown and we look forward to applying our knowledge to this new property.”
The Holiday Inn Dallas Central - Park Cities is the second property that Stout Street Hospitality is managing outside of the Magnolia brand. The management company recently changed its name from Magnolia Hotels to Stout Street Hospitality to reflect its revamped goals of strategically expanding the company to include branded hotels and resorts, franchise opportunities, construction, extended stay and its core product – historic, independent boutique hotels.
The hotel just completed a $9 million renovation and offers a full service restaurant and lounge, upgraded décor and an indoor pool. The property is a convenient option for business travelers with free wireless Internet access, a 24-hour business center and easy access to some of the area’s largest companies. More than 12,000 square feet of meeting space provides a great option for group, corporate and social gatherings. Free shuttle service also is provided to Dallas Love Field Airport.
“We selected Stout Street Hospitality to manage this hotel because they know how to operate larger upscale boutique hotels and this Holiday Inn fits that profile,” said Jon Pettee of Dallas based TriGate Capital. “It offers everything guests have come to expect in the brand including great service and amenities as well as the industry’s largest and most generous guest loyalty program. It’s also located in an area that caters to a higher demographic and the hotel’s renovation meets the needs of travelers who visit this area.”
“We selected Stout Street Hospitality to manage the property because they have continually illustrated that they have the unique ability to take older properties and make them more contemporary and attractive to today’s traveler,” added Pettee. “Their ability to do this through forward-thinking practices in operations, sales and both traditional and online marketing made them a great fit for the hotel. We believe their ability as a proven operator of hotels in the Dallas market will add great value to this property.”
For more information on the Holiday Inn Dallas Central - Park Cities, please visit dallasparkcitieshotel.com
For more information about Stout Street Hospitality, go to http://www.stoutstreethospitality.com or call (303) 607.0707.
Dallas-based TriGate Capital, LLC is a market leading real estate private equity firm focused on acquiring real estate secured debt, providing capital for asset and company recapitalizations, and acquiring real estate assets where the potential to add value exists. The company manages two fully discretionary real estate funds, TriGate Property Partners, LP (Fund I) and TriGate Property Partners II, LP (Fund II), which are the vehicles through which TriGate conducts its investment strategy. Fund I is fully invested and Fund II is presently in its investment period.
Denver-based Stout Street Hospitality, a privately held hotel management and development company, operates upscale boutique hotels catering to the sophisticated traveler. The company focuses on development, management, acquisition, re-branding, new construction and conversion of existing hotel properties. The core product line consists of award-winning, independent boutique hotels under the Magnolia brand that offer a style unlike that of trendy or branded hotels. The company currently operates hotels in Denver, Dallas, Houston, College Station, and Omaha, Neb., and is exploring other markets for additional growth opportunities. For more information, visit http://www.stoutstreethospitality.com.