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Dallas’ Omni at Park West hotel sells as part of 5-property deal

Dallas Morning News logo Dallas Morning News 3/1/2021 Steve Brown, The Dallas Morning News

A northwest Dallas hotel has sold as part of a larger transaction by Omni Hotels & Resorts.

The Dallas-based firm has sold the Omni Dallas Hotel at Park West on LBJ Freeway along with hotels in Houston, San Antonio, Austin and Jacksonville, Fla.

Omni last summer said it planned to peddle the properties as part of a plan to make new investments in convention center and resort hotels.

“In August 2020, we announced our intent to pursue the sale of five hotels that no longer align with the strategic direction of Omni Hotels & Resorts,” Peter Strebel, president, Omni Hotels & Resorts, said in a statement. Today, we are happy to confirm the sale of the following hotels – Omni Dallas Hotel at Park West, Omni Houston Hotel at Westside, Omni San Antonio Hotel at the Colonnade, Omni Jacksonville Hotel and Omni Austin Hotel at Southpark.

“The sale closed on February 25, 2021 and the new owner will transition the hotels out of the Omni system later this year,” Strebel said. “We’re grateful to all of the Omni leaders and associates who made these five hotels successful and look forward to reinvesting these funds into the future of our brand.”

The 12-story Omni Dallas Hotel at Park West was built in 1988 at LBJ Freeway and Luna Road and contains 337 rooms.

Omni has new hotel projects in Oklahoma City, Boston Hotel and Frisco.

For the last 25 years the hotel firm has been owned by Dallas billionaire Robert B. Rowling’s TRT Holdings.

The Dallas hotel sale by Omni is the latest in several such property transactions in North Texas following the outbreak of the COVID-19 pandemic.

Grapevine-based NewcrestImage just purchased downtown Dallas’ landmark Magnolia Hotel with plans for upgrades.

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