Houston's Wayside Investment Group is acquiring a 118-unit hotel on Frankford Road in Dallas and a 150-unit property on Carnaby Street in Irving. The purchase...
Patel said Dallas-Fort Worth is seeing strong demand from business and leisure travelers, making the properties attractive as an investment. Over the last three years, the two Extended Stays averaged between 70% and 80% occupancy, according to Wayside.
Wayside owns and operates 13 hotels in southern Texas, primarily in Gulf Coast cities. It’s scheduled to open a 90-unit extended-stay hotel next month in Houston and has two others in development.
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