Romy Bhojwani, senior vice president for Jones Lang LaSalleHotels in Los Angeles, tells GlobeSt.com that the Hilton flag staysin place for the long term, with Apollo rising above thecompetition with its plan to "go beyond" the already plannedimprovements for the hotel at 5410 LBJ Freeway. The Dallas-basedseller hired Bhojwani and managing director Evan Stone in Dallas atthe end of January, with the deal advancing to a best and finalamong three would-be buyers and closing just yesterday.

Bhojwani says Hilton's management contract and required productimprovement program presented a deterrent for some bidders. The NewYork City-based Apollo scored the win by proposing to exceed theflag's requirements. Pre-planning will begin soon, with workpossibly beginning by year's end or early 2009, according toBhojwani. "They're really planning to take this asset to the nextlevel," he says. The $30-million facelift includes an additional10,000 sf of meeting space, bumping the total to 45,000 sf, give ortake, in addition to renovating all rooms, lobbies and common areasand bringing in yet another signature restaurant.

Bhojwani says Ashford's move to the Hilton flag from Doubletreewas the right thing to do after it acquired it in the April 2007 buy-out ofOrlando-based CNL Hotels & Resorts Inc. In December, the localREIT and Hilton reworked managementpacts for 11 hotels, including the Dallas asset.