Magnolia and Omni Hotels Change Hands Across Texas
Magnolia Dallas Downtown hotel, a 330-room hotel located at 1401 Commerce St. in Dallas recently sold for an undisclosed price. The property will remain under the Magnolia flag while new ownership evaluates renovation options.
The hotel, which was developed in 1999, is located among 50 million square feet of downtown and Uptown office buildings. Built in 1922, the 29-story Magnolia Petroleum headquarters is recognized for its flying red Pegasus sign at the top of the property.
The Hodges Ward Elliott team composed of John Bourret, Daniel Peek, Austin Brooks and David Auer represented the seller in the transaction.
The same Hodges Ward Elliott team also represented the seller TRT Holdings Inc. in the sale of five Omni Hotels & Resorts properties. The five full-service hotels encompassing 1,729 keys are located in Austin, Dallas, San Antonio, Houston and Jacksonville, FL. While all five properties are currently branded and managed by Omni Hotels & Resorts, each of the properties will be renovated and re-branded by the new owner.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.