Downtown Sheraton puts on a fresh face as it invites new next-door neighbors

What does $50 million get you these days?

Rather a lot, according to Damien O'Connor, basic manager of the Sheraton Fort Worth Downtown, which recently began displaying the extensive facelift that occurred at the 403-room hotel over the in 2015.

The upgrade saw the hotel adding brand-new premier conference and conference areas, in addition to updating spaces and a 200-seat restaurant.

Said to be one of the largest-ever hotel remodellings in the Fort Worth area, the style and facilities are part of Sheraton's brand-new signature experience that are being duplicated in Denver, Phoenix, San Diego and other places.

" Nearly every inch of the hotel has actually been upgraded from the initial style, from the lobby to the top flooring Trinity suite," stated O'Connor. "It's a brand-new hotel generally, but the bones of this hotel? They're great bones."

The hotel, located at 1701 Commerce St., is throughout the street from the Fort Worth Convention Center and the Water Gardens in addition to a brief walk to some 75 restaurants and a variety of home entertainment places.

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Entering the hotel, visitors will see the unique state outline of Texas on the front facade and, once inside, discover a lobby with newly open area and a distinct "abstract western" design. Interior decoration work was done by The Gettys Group Companies and the architect for the upgrade was HKS.

" We've opened it up with light," said O'Connor.

Catering to the contemporary tourist, there are charging outlets and source of power throughout the hotel.

" We have produced a location that is welcoming and comfy for all visitors,

O'Connor stated. "We desire it to be a gathering place and that's what we worked to achieve."

The Sheraton Fort Worth Downtown, situated at 1701 Commerce St., just recently completed its $50 million remodelling on June 13, 2024. (Alberto Silva Fernandez
The up-to-date rooms include platform beds, 55-inch televisions, adjustable work tables, charging outlets, source of power and bigger restrooms..

The Sheraton Fort Worth Downtown also has actually expanded its suite offerings to 37-- up from 25-- including one new suite with more than 1,000 square feet. The top-floor Trinity Suite features a big parlor and two bedrooms with king-size beds.

The hotel provides about 30,000 square feet of conference area, including a large ballroom and specific breakout meeting rooms and work spaces with the most recent audiovisual innovation. The areas are adaptable to fulfill the needs of little, multiroom and big events.

" There are lots of areas so you can break away from the huge conferences for small meetings or for phone calls," said O'Connor.

Dining alternatives consist of the signature restaurant-bar West + Stone and && More by Sheraton, which uses an all-day menu and various beverages for dining in or to-go.

Aimbridge Hospitality, a hospitality group out of Plano, operates Sheraton Fort Worth Downtown. The hotel started life as a Hilton Inn in 1974 with one tower. A 2nd tower was added in 1980. It ended up being a Sheraton hotel in 2006.

O'Connor stated the reconditioned hotel's timing is ideal with brand-new downtown developments taking place on the south end of the area.

" It's lovely," he stated. "We have, in nearly every method possible, built a brand-new hotel. It's the very same excellent area near to everything Fort Worth has to use, however entirely brand-new from the lobby to the top-floor suites.".

Fort Worth company makes industrial acquisition Fort Worth-based PHP Capital Partners, a privately owned financier and operator of commercial realty homes, has gotten Freeport 7, a single-tenant light industrial residential or commercial property near the Dallas Fort Worth International Airport in Irving. The cost was not disclosed.Located at 9150 N. Royal Lane, the 56,076-square-foot residential or commercial property is 100% leased to Inspire Event Solutions, a wholly owned subsidiary of Ashford Inc." This residential or commercial property inspected all of our boxes as we continue to target practical, shallow-bay commercial homes in urban infill areas," said Pete Van Amburgh, co-managing partner of PHP Capital Partners.PHP Capital's additional acquisitions within the previous year include homes in San Antonio, Grand Prairie and Fort Worth. PHP Capital likewise sold the 165,000-square-foot Blue Smoke Business Park in Fort Worth.

Real estate stock increases The stock of homes for sale in Fort Worth in May climbed up above the three-month mark for the very first time in more than 10 years. The last time inventory rose above 3 months in Fort Worth and Tarrant County was in 2013, when selfie was the word of the year. Fort Worth had 3.2 months of real estate inventory in May, and Tarrant County had 3.1 months. Stock shows the variety of months it would consider the existing supply of homes on the market to sell offered the existing sales rate. Over the last a number of years, that number had dipped to less than one month." The increased need that was produced by the pandemic and a drop in mortgage rates actually highlighted an overall shortage of housing in the area," said Blake Barry, 2024 president of the Greater Fort Worth Association of Realtors, in a note to the organization's members. "There were many more eager purchasers than available homes for sale. Things feel very different now, and purchasers have more options than they've seen in years." Home costs also increased during that long period of extremely low stock. Now, while the boosts have relieved, rates have actually stayed raised. The median home cost in Fort Worth in May was $335,907, a 1.2% decrease from May 2023. The downside to the existing market adjustment is that it is due in large part to greater home loan rates, which have actually adversely affected affordability. " Greater supply, coupled with the current downward trend in rates, is a motivating indication for the housing market," stated Sam Khater, Freddie Mac's primary economic expert. "If a prospective purchaser is wanting to purchase a home this year, waiting on lower rates may lead to little cost savings, but looking around for the best rate stays greatly advantageous.".

The Netflix House Fort Worth connection

Galleria Dallas is adding streaming to the shopping experience. The high-end retail center has revealed a brand-new anchor renter, a fiercely prepared for home entertainment location.

Netflix House, a permanent entertainment place, is coming to Galleria Dallas, however there is a Fort Worth connection.

What is Netflix House, you might well ask? Like a Netflix series that goes on an episode or two too numerous, they aren't exactly spoiling the plot right away, however it obviously will provide an immersive experience and let visitors get a taste of your favorite Netflix series and films through special food and beverage offerings.

Netflix House is currently undergoing construction on 2 floorings of the anchor area on the northwest side of the shopping center and is anticipated to open in fall 2025.

The Fort Worth connection is that Galleria Dallas is owned by MetLife Investment Management and handled by Fort Worth's Trademark Property Group.

Do you have something for the Bob on Business column? Email Bob Francis at bob.francis@fortworthreport.org.

Bob Francis is business editor for the Fort Worth Report. Contact him at bob.francis@fortworthreport.org. At the Fort Worth Report, news decisions are made independently of our board members and financial fans. Learn more about our editorial self-reliance policy here.

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by Bob Francis, Fort Worth Report.
< p > Aimbridge Hospitality, a hospitality group out of Plano, runs Sheraton Fort Worth Downtown. < em > " We have, in almost every method possible, developed a new hotel. < p > Galleria Dallas is including streaming to the shopping experience.

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