DALLAS, TX. September 24, 2018 – Dallas-based Prism Hotels and Resorts announced today that, continuing its exciting growth trajectory and expansion in working with great hotels across the country, it has acquired eight new management deals in Texas, Rhode Island, California and Arizona. Prism Hotels and Resorts’ President and CEO Steve Van made the announcement.
“At Prism, we are laser focused on creating interactive personal relationships with our owners and maximizing NOI performance for them. Because of our success we have experienced exponential growth within our company in the past year—and this announcement of eight new deals across the country is reflective of that,” Van said. “We are the best in the business at driving sales, gaining market share and controlling expenses, and these great hotels also highlight that expertise, as a diverse company with a deep bench of specialists.”
Prism has acquired the management of three NYLO boutique hotels, soon to be converted to a major brand. They include:
- NYLO Irving/Las Colinas, located in Las Colinas, Texas, features 200 guest rooms, two outdoor pools and expansive meeting spaces.
- NYLO Plano, located in Plano, Texas, features an industrial-chic design with 176 guest rooms, a lively first floor restaurant and bar and an outdoor pool.
- NYLO Providence/Warwick has 162 guest rooms and is situated along the Pawtuxet River, just minutes away from Providence, Rhode Island.
Aligned with Prism’s growth strategy and commitment to showcasing full-service expertise and its development and programming services, Prism also acquired the management of four properties currently under development:
- The 148- room Hyatt House Cupertino expected to open in late 2018 is centrally located within walking distance to Apple Campus and fills an important extended stay void in the area.
- The 396- room Hyatt House/Hyatt Place Los Angeles International Airport (LAX) in California, expected to open in 2020. The dual-brand hotel is located just east of LAX. The property will feature 396 rooms spanning 12 floors, a fitness room, meeting facilities and outdoor swimming pool and sundeck.
- The 101- room Hampton Inn Marana and the 104-room Hampton Inn Rita Park, located in Tucson, Arizona, both expected to open before the end of 2018. These two new properties bring the total portfolio for a singular owner to 7 hotels.
In addition to the exciting acquisitions for Prism, Hyatt recently recognized the company’s Hyatt Regency Los Angeles International Airport hotel as Franchise Hotel of the Year—a recognition that each year, only one Hyatt franchise property across the Americas is selected for. The recognition comes on the heels of Hyatt recognizing Prism at year-end 2017 with the Operational Excellence award for its role in managing the same 580-room hotel and producing best-in-class results. Prism was the only third party management company to receive this annual award.
For more information, please visit www.prismhotels.com.
