Sheraton Adds Denver, Dallas Hotels to Portfolio

The repositioning of the two hotel properties is part of a rebranding campaign being launched by new ownership. The Chartres Lodging Group, formerly known as the Oxford Lodging Advisory and Investment Group LLC, and partner Goldman Sachs' Whitehall Street Global Real Estate Fund, acquired a total of five Adam's Mark Hotel properties totaling nearly 5,000 rooms from HBE Corp. of St. Louis. Other properties included in that transaction were Adam's Mark properties in St. Louis, Indianapolis and Buffalo. Once the change of flags take place, the Chartres Lodging Group plans to spend in excess of $238 million to renovate, re-brand and reposition the five hotels.

"The Sheraton Dallas Hotel and Sheraton Denver Hotel join the Sheraton family at an exciting time," says Hoyt Harper, SVP of brand management at the Sheraton group. "Sheraton is embarking on a bold plan to reposition itself, with extensive renovations and upgrades to existing hotels that will result in 50,000 new or renovated rooms by 2009 in North America alone, and 60 new hotels in the next two-and-a-half years in high-profile US cities. The new Dallas and Denver hotels will expand Sheraton's footprint and illustrate the brand's focus on large convention hotels."

The soon-to-be Sheraton Dallas Hotel has approximately 1,840 guest rooms and more than 230,000 sf of meeting space, including the single largest ballroom in Texas, Starwood officials say. The hotel is attached via sky-bridge to another Starwood property, the 407-room Westin City Center, Dallas. Other Sheraton hotels in the Dallas/Fort Worth area are: the Sheraton Dallas North Hotel, Sheraton Suites Market Center, Sheraton Grand Hotel Dallas/Fort Worth Airport and the Sheraton Arlington Hotel. The portfolio also includes two properties that will be opening in the next few months--the Sheraton Stonebriar Hotel, which will be opening on March 1, and the Sheraton Fort Worth Hotel and Spa, which will open its doors for the first time on May 15.

The Denver property to be renamed the Sheraton Denver Hotel is the largest hotel in Colorado. In addition to its 1,225 rooms it also offers more than 130,000 sf of conference space and nearly 50 meeting rooms. Sheraton's portfolio in Denver also includes the Sheraton Denver West, Sheraton Denver Tech Center and Four Points by Sheraton.