The ability for guests to mix business with pleasure is proving to be critical for the success of area hotels. Other suburban hotels on the list include the Hotel Vin (#7), a F&B-centric boutique hotel in charming Downtown Grapevine Great Wolf Lodge (#10), a family-friendly resort and indoor waterpark and Las Colinas Resort (#11), a former Four Seasons converting to Ritz-Carlton that offers an incredible golf package and resort amenities. The Gaylord (#19) in Grapevine is a convention destination in and of itself and sits on the banks of Lake Grapevine. A new 888-key Loews is currently under construction adjacent to the current Live! by Loews and will only increase the appeal of the complex to large groups. The Live! by Loews (#8) in Arlington sits in the Texas Live! development in the sports district that is home to AT&T Stadium and Globe Life Field. It is especially telling that the higher RevPAR, group-heavy hotels that appear on the list benefit from a leisure component in addition to ample conference space. The presence of some major group hotels on the list is a quite promising sign for the market. Bleisure and Leisure Appeal is Apparent in Suburban Submarkets The HALL Arts (#14) and Thompson (#16), both of which are relatively new, have performed solidly out of the gates, but the still-recovering corporate and group demand segments in Downtown have limited the submarket’s RevPAR. Downtown Dallas does not currently benefit from the luxury supply that Uptown offers, limiting high-end RevPAR. That demand will be tested by incoming supply in the area, but pending major office and residential developments should also ensure that demand will grow more than commensurately with supply in the years to come.
Strong initial results at newer, non-luxury product in Uptown, such as the Canopy (#17) and the Marriott (#24), also serve as indicators of the escalating demand in the submarket. Uptown also has the highest concentration of high-end lodging product in the Metroplex, headlined by the Mansion on Turtle Creek (#1), Ritz-Carlton (#2), Crescent Court (#4), and ZaZa (#6). The continued commercial development in the corridor along McKinney Avenue has made Uptown what is arguably the most desirable submarket in the area across all real estate types. Not surprisingly, Uptown Dallas is well-represented among the top RevPAR hotels in North Texas.
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