Dallas Fort Worth International Airport now owns the Hyatt Regency hotel that sits beside Terminal C, after a $194 million purchase that closed Friday, Oct. 30, the airport said in an announcement on Wednesday, Nov. 11.
The buyer is the airport's Public Facility Improvement Corporation, a nonprofit that finances, plans, builds, owns and operates facilities on airport property. According to DFW, the deal needed and received approval this summer from that corporation, from the airport's Board of Directors and from its two owner cities, Dallas and Fort Worth.
What changes and what does not
Hyatt will keep running the hotel under its existing management agreement, and the Hyatt Regency name stays, the airport said. DFW said it plans to renovate the property but did not give a cost or a schedule in its announcement.
The hotel is one of the largest buildings in the airport's Central Terminal Area. DFW lists 811 rooms, about 92,000 square feet of meeting and event space, more than 44,000 square feet of ballroom and exhibit space, more than 70 meeting rooms and event venues, and a terminal shuttle that runs around the clock.
The announcement did not name the seller.
Four airport hotels under one owner
With the purchase, the corporation owns all four hotels inside the airport's boundaries, according to DFW, and the airport becomes the largest single owner of Hyatt-branded hotels in Texas when measured by room count. Hotel Management Network also reported the $194 million price and the four-hotel portfolio.
