X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

DALLAS-Gemstone Hospitality of Park City, UT will start interviewing general manager candidates in 10 to 14 days for its newest assignment–the Hotel ZaZa in Dallas’ Uptown and the newest kid on the block of perhaps the most elite hotels in Dallas. Gemstone gets a five-year contract, with renewals, and a percentage of the profit.

“Our compensation is driven by our performance on the bottom line,” Mark van Hartesvelt, Gemstone partner, tells GlobeSt.com. The starting point is to get a GM on site before June ends. Gemstone just beat out 12 other hospitality operators for the contract, one awarded by a hotel developer, who’s a novelty to the industry but intent on building a brand. Gemstone says the management contract is regarded by insiders as the catch of the year.

Hotel ZaZa carries a “lifestyle” labeling, not boutique or any other of the more popular buzzwords associated with the hotel industry. Its promoter, Charles Givens of Oklahoma City, has just one other hotel under his belt, the Waterford, a traditional facility situated in his homeport where he amassed his wealth as a general contractor. For his effort, Givens now owns and is developing a premier tract at 2403 Thomas Ave. in one of Dallas’ most upper-crust neighborhoods. Van Hartesvelt pegs the development price per room at $150,000.

The 146-room hotel will deliver in October, with an owner prepared to go the extra mile in hospitality offerings to capture his share of a stretched market. Van Hartesvelt says Givens is looking to the food and beverage components, Dragonfly, to make the difference. Then again, Hotel ZaZa isn’t holding back on other angles, using theme rooms (from Zen to Texas) to pique the fancy of those willing to spend anywhere from $225 per night for an executive suite to as much as $1,100 for the presidential quarters.

Givens’ target audience is the young professional or the young at heart. Van Hartesvelt says Hotel ZaZa is “for the people who engage life,” the seekers of cool and the trendsetters of the new Millennium. The goal is to be a four-star, four-diamond venue. After all, Hotel ZaZa needs to keep up as best it can with its neighbors: the five-star, four-diamond Mansion on Turtle Creek and four-star Crescent Court.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.