Omni Considers Selling Several USA Properties
Main Photo: The Omni Dallas Hotel at Park West
Date: August 2020
Location: Florida and Texas, USA
Hotel Names: The Omni Jacksonville Hotel in Florida, the Omni Dallas Hotel at Park West, Omni Austin Hotel at Southpark, Omni San Antonio Hotel at the Colonnade and Omni Houston Hotel at Westside in Texas.
No. of Keys: 1,729
Who & Why: Omni Hotels & Resorts is weighing a potential sale of five of it’s U.S. properties. According to Omni’s president Peter Strebel, proceeds from the sale of these assets would be put toward “reinvesting capital into the convention centre and resort market space.”
“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 Strebel in a statement. “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.”
Omni has been heavily focused on building its presence in both the resort and group/ convention centre sectors in recent years, acquiring five resorts from private equity firm KSL Capital Partners in 2013 and expanding with new-build group and convention-focused properties in Fort Worth and Dallas, Texas; Nashville; Louisville between 2009 and 2018.
Omni plans to open three additional properties, including the Omni Viking Lakes Hotel in Minnesota, Omni Oklahoma City Hotel and Omni Boston Hotel at the Seaport, later this year. The company also plans to debut the Omni PGA Frisco Resort in Texas in 2022.
THPT Comment: Concurrent with expansion, however, the company has opted to permanently close its Omni Berkshire Place hotel in Midtown Manhattan, citing swift and significant impact from the Covid-19 crisis….shame as we have buyers for that property!
First Seen: Travel Weekly
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