DALLAS – A Houston-based investment group is purchasing two North Texas hotels. The sale will close by the end of the month.
The two Extended Stay America Suites were bought by Wayside Investment Group. The Dallas location is on Frankford Rd. with 118 units, and the Irving location is on Carnaby St. with 150 units.
Wayside owns 13 hotels in southern Texas with a 90-unit hotel opening in August in Houston and two others in development.
Occupancy for the Extended Stay hotels has averaged between 70 and 80 percent since 2020.