What's Happening?
LXMI Capital has acquired the TownePlace Suites by Marriott in McKinney, Texas. The 88-room hotel, strategically located near major highways and corporate offices, was sold by Champion Hotels and Jain
Hotels. The transaction was managed by HVS Brokerage & Advisory and conducted off-market to ensure confidentiality. The acquisition aligns with LXMI Capital's strategy to expand its portfolio in the region, complementing its existing Sheraton property nearby.
Why It's Important?
This acquisition reflects the ongoing economic growth and development in McKinney, Texas. The strategic location of the hotel near corporate offices and leisure attractions makes it a valuable asset for LXMI Capital. The transaction highlights the demand for extended-stay accommodations and the strength of the Marriott brand. It also underscores the importance of strategic acquisitions in expanding business portfolios and enhancing market presence.
