Vista Ridge Mall Dr
Lewisville, TX 75067

HVS, as the sole and exclusive advisory firm to Ownership, is pleased to present the opportunity to acquire the fee simple interest in a 2.33-acre site within the growing Lewisville submarket of Dallas (herein referred to as the “subject site”). The land is fully entitled to be developed as a 122-key Element by Westin hotel; an upscale, Marriott-affiliated, extended-stay brand. INVESTMENT HIGHLIGHTS Long-Term Franchise Agreement with Marriott - Upon acquisition and approval, an investor can expect a new, 20-year license agreement with Marriott as an Element by Westin. The all-suite design promotes guest independence, which yields to lower housekeeping costs and higher profits. This business model benefits an investor in operating an asset that yields high GOP margins and NOI flow-through. - The brand’s extended-stay orientation helps to drives occupancy levels and reduce the team member-to-guest ratio, which results in lower operating costs and some of the highest profit margins in the industry. - The award-winning Marriott loyalty program, now known as Bonvoy, is one of the largest in the hotel industry, offering members access to more than 6,700 hotels across 29 brands. Serving nearly 100 million enrolled members worldwide, it is an effective tool for driving customers to Marriott hotels and creating brand loyalty. Excellent Location Among Strong Corporate and Leisure Demand Generators - The subject site is strategically located within the City of Lewisville, proximate to numerous dining, retail, and entertainment options, which is a positive attribute for both business and transient guests. - The nearby Music City Mall features 160 stores across its 1,046,000 square feet of retail space. The Mall is anchored by Dillard’s, JCPenney, Macy’s and Cinemark. The mall was sold and subsequently renamed to the Music City Mall in 2017. In 2018, the former Sears store was converted to a Korean grocery store on the first level, featuring a Korean restaurant and stores on the second level. - Corporate demand generators in the area include Xerox, Kellogg’s, SYSCO, TIAA-CREF, Med Fusion Laboratories, Mary Kay, and Bed Bath & Beyond. Significant Upside for Developer to Exit - The subject site presents an opportunity for a developer to construct an Element by Westin hotel in a major MSA, with an attractive exit capitalization rate. Following construction and stabilization of operations, this asset would be a desired investment for the comprehensive pool of area and regional investors interested in hotel products.