• Sheraton Hotel McKinney   

CBRE Hotels, as sole and exclusive agent for the owner, has been retained to offer for sale the fee-simple interest (with the leasehold interest in the Event Center) in the 187-room Sheraton McKinney. Positioned at the intersection of two prominent thoroughfares in the northern Dallas MSA, North Central Expressway (US-75) and Sam Rayburn Tollway (SH-121), the Hotel enjoys proximity to the Collin County Higher Education and Administration Center, Emerson Process Management, and several exciting developments. In addition, the Property is conveniently located near a rich array of both corporate and leisure demand drivers, including Medical City McKinney, McKinney ISD Stadium, and neighboring North Dallas corporations. This offering represents an exceptional opportunity to acquire a strategically located, cash-flowing, high quality full-service hotel in a thriving and fast-growing Dallas submarket, available unencumbered of debt and management.

Investment Highlights

  • Well-Built, High-Quality Asset Offered Well-Below Replacement Cost - Opened in 2015, the Sheraton McKinney was originally designed and built as a Westin. As a result, the upscale, full-service Hotel embodies an inviting contemporary aesthetic unique for the Sheraton brand. The Property further solidifies its premier market positioning as it is the only full-service Marriott-branded hotel in McKinney.

  • Strategic Location Proximate to Diversified Demand Drivers - Located at the intersection of two major thoroughfares in the northern Dallas MSA, North Central Expressway (US-75) and Sam Rayburn Tollway (SH-121), the 187-room Sheraton McKinney offers convenient access to key hotel demand generators, including the Credit Union of Texas Event Center, Collin College, Craig Ranch, Medical City McKinney, and McKinney ISD Stadium. Furthermore, the Property is also within a short distance to the area’s diverse array of restaurants and vibrant mixed-use developments, including Hub 121 and District 121. Additionally, major development projects such as McKinney 121 and Ridgeline Plaza McKinney will further drive demand to the area.

  • Premier Events Hotel in the Market Driving Strong F&B Revenues - The Sheraton offers an impressive 16,310 square feet of well-appointed meeting and event space, far surpassing the competitors in the lodging market. With the tremendous amount of pent-up demand for weddings and other special events, coupled with the robust return of corporate event demand to the market, the Hotel is well positioned to capture significant existing demand in the market, as well as new business as corporate events continue to ramp back up.
  • In-Place Cash Flow with Market Share Upside through the Completion of the PIP - In 2021, the Sheraton recorded a 112.3 RevPAR index to the comp set and achieved a RevPAR ranking of 3 out of 8 hotels. However, as new supply has entered the submarket, the Property’s positioning has fallen. In 2023, the Hotel posted a 106.0 RevPAR index to the comp set, ranking 5 of 8 hotels. With a refreshed product following the completion of the PIP, and given the limited new supply in the pipeline, the Sheraton will be able to increase its market positioning by capitalizing on the strong corporate, group, and leisure demand in the market and drive top-line revenue.
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  • Dynamic and Thriving Economic Landscape with Continued Growth - DFW is the fourth largest metro in the U.S. and given the tremendous growth in the area, it is projected to bypass Chicago within the next 10 years. Contributing about one-third of Texas’ GDP, the area’s economy is the most diverse in the state. DFW's central location, affordable living costs, favorable business environment, world-class cultural institutions, advanced healthcare facilities, universities, and extensive infrastructure network draw corporations and job seekers to relocate to the area.

  • Premium Full-Service Sheraton Branding and Globally Recognized Marriott Affiliation - The Sheraton McKinney is one of the top performing Sheratons in the Marriott system. Established in 1937, Sheraton became part of the world’s largest hotel company through the merger of Starwood Hotels and Resorts with Marriott International in 2016. As such, the Hotel benefits from the global Marriott Bonvoy program, a premier loyalty program and global distribution system, comprising 177 million members.

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