Omni Explores Sale of Five Hotels as Part of Reinvestment Strategy

Omni Viking Lakes Hotel is slated to open in October 2020.
Omni Viking Lakes Hotel is slated to open in October 2020.

DALLAS, Texas — Omni Hotels & Resorts this week announced its strategic plan to enhance and continue its growth and brand offerings in resort and convention center markets. In an effort to deliver a consistent product and guest experience across its portfolio of more than 50 properties, Omni shared its intent to run a thorough review and potential sale process of five hotels, including Omni Dallas Hotel at Park West, Omni Jacksonville Hotel, Omni Austin Hotel at Southpark, Omni San Antonio Hotel at the Colonnade, and Omni Houston Hotel at Westside. The process is being led by Atlanta-based Hodges Ward Elliot.

“Pursuing the potential sale of assets that no longer align with the direction of our brand was a part of our strategy pre-COVID,” said Peter Strebel, president of Omni Hotels & Resorts. “The hospitality industry was impacted immensely by the pandemic and as we emerge from this crisis, we must be forward-thinking about our brand strategies and portfolio offerings. Reinvesting capital into the convention center and resort market space allows us to grow our business and play to our strengths.”

Since the KSL Resorts acquisition in 2013, in which the brand acquired six destinations, doubling its leisure portfolio, Omni has been focused on building its resort collection. The brand also has been focused on group/convention center hotels for more than a decade with new-build openings in Fort Worth (2009), Dallas (2011), Nashville (2013), Louisville (2018), and the upcoming openings in Oklahoma City and Boston (2021). In addition to the resort and group/convention center market, Omni has partnered with three professional athletic organizations to bring its luxury hotel experience to the affiliated team’s mixed-use development, highlighting the “live, work, play” model. These partnerships include Omni Frisco Hotel with the Dallas Cowboys (2017), Omni Hotel at The Battery Atlanta with the Braves (2018), and Omni Viking Lakes Hotel with MV Ventures, the development arm of the Minnesota Vikings (2020). Each of the aforementioned properties is a destination within the city itself and cater to both business and leisure travelers.

Advertisement

Omni Hotels & Resorts is looking to maintain its growth trajectory as the brand celebrates its 25th anniversary of single ownership with TRT Holdings, Inc. in early 2021. Three hotels are slated to open between October 2020 and summer 2021—Omni Viking Lakes Hotel, Omni Oklahoma City Hotel, and Omni Boston Hotel at the Seaport—and additional projects are in the works, including Omni PGA Frisco Resort, the brand’s partnership with PGA of America and the City of Frisco (2023).

 


Subscribe to Lodging Daily News for updates.

SUBSCRIBE