The owner of a Dallas hotel is looking to offload the luxury property to a new buyer for nearly $200 million.
Plano-based Sam Moon Group (SMG), the developer and owner of the JW Marriott at Dallas Arts District, has tapped local investment bank Eastdil Secured to advise on the private sale of the luxury hotel in a deal valued at approximately $190 million, Bloomberg reported, citing unnamed sources “familiar with the matter.”
SMG opened the 267-room hotel in the summer of 2023 to seize on the area’s growing economic opportunities and its nearby shopping, dining, and entertainment. With first-class accommodations and a prime location just minutes from American Airlines Center and Klyde Warren Park, the JW Marriott hotel touts itself as an “approachable luxury experience,” according to its website.
Though SMG is reportedly seeking a new buyer for the Dallas-area hotel, Bloomberg reports that representatives for both firms declined to comment on the subject due to the “private nature” of the deal.
It is unknown why SMG is seeking a buyer for the luxury property, but if the property changes hands, it would not diminish the company’s North Texas holdings much. In addition to the JW Marriott, SMG owns the Renaissance Dallas Hotel in Plano, the Coyote Ridge Golf Club in Carrollton, and the Hyatt Place Alliance in Fort Worth.
Dallas-based HKS Inc. was the lead designer and architect for the JW Marriott, while DPR Construction served as the general contractor. Uptown-based Looney & Associates served as the interior designer of the hotel.
The Dallas Express reached out to SMG but did not immediately hear back.
