DALLAS—Characterizing the DFW market as more than the typical airport market would be an understatement of the highest degree, given its mind-bending rate of growth. A recent hospitality purchase is further proof of that demand.

The 302-room Sheraton DFW Airport hotel was recently acquired by the Buccini/Pollin Group for $46 million. PM Hotel Group, a Washington, DC hotel management company part of BPG, will operate the hotel.

“The Sheraton DFW Airport Hotel marks our 7,600th room either developed or acquired since our inception in 1993,” said Dave Pollin, co-founder, BPG. “The Dallas/Fort Worth marketplace continues to hold great interest for us as we further expand our portfolio of full-service hotels in markets with high barriers to entry that appeal to both business and leisure travelers. Alongside our DoubleTree by Hilton Dallas DFW Airport Hotel, this marks our second hotel in the DFW area. We continue to be impressed by the dynamic growth of the DFW Airport region as it is much more than a typical airport market.”

Located within minutes of DFW Airport at 4440 West John Carpenter Freeway, the recently renovated hotel is near such attractions as the Texas Motor Speedway, Six Flags Over Texas and AT&T Stadium. The hotel underwent an extensive $7 million upgrade to the lobby, including a new lounge, guest rooms, an expanded and redesigned club lounge, and all function rooms. The hotel is equipped with a fitness center, outdoor pool, 25,000 square feet of meeting space and the Link@Sheraton, a full-service business center.

“The Sheraton DFW Airport clearly was well-managed by its previous owner,” Pollin tells GlobeSt.com. “BPG's hotel management affiliate, PM Hotel Group, already has added substantial value, with several additional initiatives underway. For example, we locked in energy prices 48% lower than the previous owner. We currently are upgrading the hotel to an RFID lock system. We have begun a comprehensive upgrade of the hotel's legacy mechanical systems to lower operating costs and improve performance.  We are 'complexing' the hotel's airport transportation with the existing DoubleTree by Hilton DFW Airport North that we acquired previously, saving each hotel more than $100,000/year.”

BPG has developed and acquired US properties valued in excess of $4 billion, including more than 40 hotels, 6 million square feet of office and retail space, 10 residential communities and multiple entertainment venues. PM Hotel Group, BPG Real Estate Services (office property management and leasing), ResideBPG (residential property management and leasing), BPGS Construction (construction management) are its affiliates/subsidiaries. These companies oversee all aspects of project acquisition, finance, development, construction, leasing, operations and disposition for portfolio properties.

DALLAS—Characterizing the DFW market as more than the typical airport market would be an understatement of the highest degree, given its mind-bending rate of growth. A recent hospitality purchase is further proof of that demand.

The 302-room Sheraton DFW Airport hotel was recently acquired by the Buccini/Pollin Group for $46 million. PM Hotel Group, a Washington, DC hotel management company part of BPG, will operate the hotel.

“The Sheraton DFW Airport Hotel marks our 7,600th room either developed or acquired since our inception in 1993,” said Dave Pollin, co-founder, BPG. “The Dallas/Fort Worth marketplace continues to hold great interest for us as we further expand our portfolio of full-service hotels in markets with high barriers to entry that appeal to both business and leisure travelers. Alongside our DoubleTree by Hilton Dallas DFW Airport Hotel, this marks our second hotel in the DFW area. We continue to be impressed by the dynamic growth of the DFW Airport region as it is much more than a typical airport market.”

Located within minutes of DFW Airport at 4440 West John Carpenter Freeway, the recently renovated hotel is near such attractions as the Texas Motor Speedway, Six Flags Over Texas and AT&T Stadium. The hotel underwent an extensive $7 million upgrade to the lobby, including a new lounge, guest rooms, an expanded and redesigned club lounge, and all function rooms. The hotel is equipped with a fitness center, outdoor pool, 25,000 square feet of meeting space and the Link@Sheraton, a full-service business center.

“The Sheraton DFW Airport clearly was well-managed by its previous owner,” Pollin tells GlobeSt.com. “BPG's hotel management affiliate, PM Hotel Group, already has added substantial value, with several additional initiatives underway. For example, we locked in energy prices 48% lower than the previous owner. We currently are upgrading the hotel to an RFID lock system. We have begun a comprehensive upgrade of the hotel's legacy mechanical systems to lower operating costs and improve performance.  We are 'complexing' the hotel's airport transportation with the existing DoubleTree by Hilton DFW Airport North that we acquired previously, saving each hotel more than $100,000/year.”

BPG has developed and acquired US properties valued in excess of $4 billion, including more than 40 hotels, 6 million square feet of office and retail space, 10 residential communities and multiple entertainment venues. PM Hotel Group, BPG Real Estate Services (office property management and leasing), ResideBPG (residential property management and leasing), BPGS Construction (construction management) are its affiliates/subsidiaries. These companies oversee all aspects of project acquisition, finance, development, construction, leasing, operations and disposition for portfolio properties.