When the deal closes, the flag will be lowered and anotherfirst-tier hotel banner flown in its place, Paul Barham, CEO forthe publicly traded Harrell Hospitality Group Inc., tellsGlobeSt.com. The hotel at 1701 Commerce St., across the street fromthe Fort Worth Convention Center, has been owned for nearly adecade by Puson GCH LP of Indonesia.Harrell Hospitality, withoffices in Dallas and London, is teaming with Realty CapitalPartners Inc. of Colleyville, known for buying or developing andhawking percentage interests to select investors. The JV agreementsets up Realty Capital as the buyer and Harrell as hotel renovatorand manager.

In breaking the longstanding rule not to discuss deals beforethey close, Barham says the word is being put out about the privateproject to dovetail off last week's news that a Fort Worthcommittee will recommend Omni Hotels of Irving gets the city-backedconvention center hotel project. "We thought it would be timely forsome other good news that we are taking the old Ramada Plaza andmaking it something better," he says.

The 14-year-old Harrell Hospitality Group operates the 263-roomBiltmore Santa Clara, an independent hotel in California, and the149-room Rancho Santa Barbara Marriott. Barham's not ready todiscuss the pending flag change, but the Dallas proprietor has alongstanding relationship with Marriott International as one of afew independents cleared to manage its full-service franchisedlocations. Its other hotel relationships involve franchisedoperations with Sheraton, Hilton, Radisson, Clarion, Ramada,Holiday Inn and Marriott.