Frisco hotel sells as investors start to make similar deals
The Hyatt House Frisco is near Stonebriar Centre mall.
The Frisco Hyatt House opened in 2016.(NewcrestImage )
A Frisco hotel has changed hands.
The sale of the Hyatt House Frisco comes at a time when the hotel industry has suffered huge losses due to the COVID-19 pandemic.
Even so, some North Texas hotel properties are starting to sell.
The 132-room Hyatt House Frisco is on Parkwood Boulevard near Stonebriar Centre mall and was built by Lewisville hotel firm NewcrestImage in 2016.
An investment group from the Northeast just bought the property.
“This sale demonstrates that despite the upheavals of COVID, a well-positioned asset in a strongly performing market has attractive investment appeal,” Mehul Patel, chairman and CEO of NewcrestImage, said in a statement. “Our company constantly evaluates how we can best add value and boost profitably for our investors.
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