Partners Group and funds managed by Trinity Fund Advisors announced this week they had acquired the 431-key luxury hospitality property in Irving, Texas. There are plans for a multimillion-dollar capital improvement project that includes renovation of all guest rooms and villas, revamping the hotel’s food and beverage outlets, and upgrading the meeting space.
Partners Group and funds managed by Trinity Fund Advisors on May 31 announced they had joined forces to acquire the Four Seasons Resort and Club Dallas at Las Colinas, a 431-key luxury hospitality property in Irving, Texas, Dallas Business Journal reported.
The transaction by Partners Group and the funds involving Trinity Fund Advisors, an affiliate of value-add firm Trinity Real Estate Investments, includes plans for a multimillion-dollar capital improvement project as the pair look to transform the property into “the premier group and leisure destination in the Dallas Metroplex,” Dallas Business Journal reported.
The facelift will span the renovation of all guest rooms and villas, revamping the hotel’s food and beverage outlets, and renovating the meeting space, among other pushes.
The firms pointed to North Texas’ local economy, employment rates and population growth as factors in its decision to acquire the property, Dallas Business Journal reported.
“The area is becoming an important regional business hub and this premier resort is ideally positioned to benefit from rising corporate demand for venue space and increasing visitor numbers to the area,” said Jason Longo, member of Management, Private Real Estate at Partners Group, in a prepared statement.
Earlier this year, it was revealed that Four Seasons Hotels and Resorts planned to conclude management of the Irving resort on Dec. 31 and Extell, which owned and operated the property at the time, was actively pursuing a new hotel flag. A new hotel flag was not mentioned in the news release from Partners Group and Trinity Investments, though it was previously reported that Troon Golf LLC signed on to manage the golf course and operations.