Hunter Hotel Advisors has announced the sale of the Aloft Hotel Plano and the Aloft Hotel Frisco, both in Texas. The two Marriott-branded select-service hotels were sold together by entities controlled by Corebridge to Touchstone Hospitality Fund, LLC. The transaction was led by SVP Kami Burnette and VP Mason McDavid of Hunter.
The Aloft Hotel Plano and Aloft Hotel Frisco together comprise 272 guestrooms, with each property offering 136 rooms. Both hotels were built in 2008 and operate under the Aloft brand. The properties feature modern design and standardized layouts intended to serve business and leisure travelers. Amenities available at both hotels include contemporary guestrooms, a W XYZ Bar, Re:fuel grab-and-go dining, 504 square feet of meeting space, an outdoor pool, a fitness center and a business center.
“The transaction process was competitive and well-managed from start to finish. We were able to conduct thorough due diligence, maintain constructive dialogue with all parties, and execute within our targeted timeline,” said Deepak Gandhi, managing member at Touchstone Hospitality Fund.
According to the information provided, both properties benefit from proximity to corporate offices and employment centers that support business and transient demand. Additional demand drivers include nearby sports venues and mixed-use developments, which contribute to a mix of business and leisure visitation.
“This transaction highlighted the depth of buyer interest for premium-branded, select-service hotels in the Dallas Fort Worth (DFW) market,” said Burnette. “The buyer was attracted to the favorable cost basis and plans to leverage economies of scale and revamped operational strategies to maximize RevPAR penetration within the comp set.”
Hunter Hotel Advisors stated that the sale process was structured to attract qualified buyers for the paired assets. The decision to market the hotels together reflected their similar profiles, shared brand and complementary locations within the Dallas Fort Worth area.
“The hotels presented a unique opportunity to acquire multiple Aloft hotels, and we created a competitive process to secure an offer from a highly qualified buyer,” said McDavid. “We are appreciative of the opportunity to deliver a successful outcome for the seller and excited for the buyer to continue growing his portfolio in Texas.”
The transaction concludes with the transfer of ownership to Touchstone Hospitality Fund, LLC, marking the completion of a single-sale process involving two select-service hotels operating under the same brand and within the same regional market.
