TRT Holdings, the holding company of Omni Hotels & Resorts, has completed the sale of five of its properties. Terms of the deal were not disclosed.
“In August 2020, we announced our intent to pursue the sale of five hotels that no longer align with the strategic direction of Omni Hotels & Resorts,” said Peter Strebel, president, Omni Hotels & Resorts, in a statement to Hotel Business. “Today, we are happy to confirm the sale of the following hotels—Omni Dallas Hotel at Park West, Omni Houston Hotel at Westside, Omni San Antonio Hotel at the Colonnade, Omni Jacksonville Hotel and Omni Austin Hotel at Southpark. The sale closed on Feb. 25 and the new owner will transition the hotels out of the Omni system later this year. We’re grateful to all of the Omni leaders and associates who made these five hotels successful and look forward to reinvesting these funds into the future of our brand.”
Boomberg had previously reported that Omni was in talks with U.K.-based London + Regional Properties. The Jacksonville Daily Record is reporting that the property in that city sold for $35.1 million to a possible affiliate of the company based in Wyoming.
Hodges Ward Elliott (HWE) arranged the sale of five properties, which encompasses 1,729 keys. An HWE team composed of John Bourret, managing director; Daniel Peek, president, hotel group; Austin Brooks, director; and David Auer, associate, represented TRT Holdings Inc. in the transaction.