AHG and Civitas Group Close Financing for Dual Branded Hotel
Atlantic Hotels Group and Civitas Capital Group are proud to announce the closing of construction financing for a new dual-branded AC and Residence Inn Hotel in Dallas, Texas.
The new 256 room hotel will be built next to the Galleria Dallas, the major mall in the area. Scheduled to open in spring 2018, the hotel will anchor the Dallas Midtown Redevelopment Plan in the area that includes office space, residential units, retail, restaurants and entertainment, making it a prime location for the future.
“AC and Residence Inn Dallas by the Galleria will bring new options to the Midtown lodging market by offering travelers the choice of two distinct brands in close proximity to the Galleria Mall and the LBJ Freeway corridor.” Perry Molubhoy, CEO of Atlantic Hotels Group.
The dual-branded approach allows for a better economies of scale for the two hotels, as well as serving multiple price points.
Learn more about the deal and hotels here.