RLJ sells Dallas airport asset to Austin firm

DALLAS — Austin, Texas-based Scenic Capital Advisors, LLC has acquired the 248-key Embassy Suites by Hilton Dallas Love Field from an affiliate of Bethesda, Maryland-based RLJ Lodging Trust for an undisclosed amount.

RLJ announced during its fourth-quarter earnings that it had sold this hotel and the Residence Inn Houston by the Galleria, in separate transactions in December, for a combined $49.5 million.

The property’s seller was listed as FelCor Dallas Love Field Owner, LLC. RLJ acquired FelCor Lodging Trust in 2017 in an all-stock transaction that valued FelCor at approximately $1.2 billion. Atlanta-based Hunter Advisors brokered the sale.

This marks Scenic’s seventh hotel asset in Texas in the last four years. 

The eight-story hotel is located adjacent to Dallas Love Field Airport and benefits from consistent demand from air travel and health care from the nearby Southwestern Medical District. The property also features 4,400 sq. ft. of meeting space. 

Scenic said it plans extensive renovations of the property.

“The Embassy Suites at Love Field is a high-quality asset and marks our seventh acquisition in Texas in the past four years,” said Thomas Chen, principal at Scenic Capital Advisors. “We look forward to completing a comprehensive renovation and repositioning the hotel to capture future growth within the Love Field submarket.”