Wednesday, June 18, 2025
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HospitalityOklahomaTexas

Embassy Suites Opens New Hotel in Oklahoma City

by Haisten Willis

OKLAHOMA CITY — Embassy Suites Oklahoma City Downtown/Medical Center is now open in Oklahoma City. The new hotel is the third Embassy Suites property in Oklahoma. The full-service hotel includes 195 two-room guest suites and more than 10,000 square feet of meeting space. There is an on-site restaurant, E.S. Founders, led by chef Andrew Black. OU E. Suites LLC own Embassy Suites Oklahoma City Downtown/Medical Center and Prism Hotels & Resorts manages the property. The hotel’s amenities include free made-to-order breakfast, a 24-hour fitness center and a business center. The hotel is located at 741 N. Phillips Ave. near downtown Oklahoma City.

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DoubleTree-by-Hilton-Oklahoma-City
HospitalityOklahomaTexas

DoubleTree by Hilton Hotel Opens in Oklahoma City

by Haisten Willis

OKLAHOMA CITY — The new DoubleTree by Hilton Oklahoma City Airport hotel is now open. Renovations on the 134-room, full-service hotel included updates to the design and furnishings throughout the lobby, guest rooms and public areas. Suenos LLC owns the hotel. HP Hotels, the same team that owns and operates Hilton Garden Inn North Quail Springs in Oklahoma City, manages the property. The hotel’s guest rooms feature HDTVs, a refrigerator and microwave and complimentary WiFi. Community amenities include an indoor heated pool and hot tub, 24-hour fitness center, business center, on-site parking and shuttle service to and from the airport. Three meeting rooms span more than 1,600 feet of event space. The hotel is located off I-40 and is four miles from Will Rogers World Airport (OKC).DoubleTree by Hilton Oklahoma City Airport is located at 4410 SW. 19th Street.

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Value-Place
HospitalityOklahomaTexas

TGC Development Breaks Ground on New Value Place Hotel in Tulsa

by Haisten Willis

TULSA, OKLAHOMA — TGC Development Group of Wichita, Kan., has broken ground on a four-story, 124-unit Value Place extended stay hotel at 11000 E. 45th St. in Tulsa near Broken Arrow Expressway and U.S. Highway 169. This will be the second extended stay hotel for TGC in the Tulsa area. The hotel will feature three room layouts with modified kitchens. Amenities include on-site laundry, vending and Wi-Fi. Wichita-based Ink Construction will begin construction immediately on the 45,000-square-foot hotel, which is slated to be completed in the fall.

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Market ReportsOklahomaTexasTexas Market Reports

Oklahoma City Multifamily Market Sales Reach $82.4 Million in Third Quarter

by Haisten Willis

In the third quarter of 2014, the Oklahoma City multifamily market recorded 11 transactions totaling 1,537 units for a sales volume of $82.4 million. This is an average price per unit of $53,625. The third quarter experienced a significantly higher sales volume than the first quarter of 2014, increasing 305 percent. The total sales volume for 2014 overall has reached $182.7 million, which is 33 percent lower than the same time period in 2013, when the total sales volume was just over $272 million. However, the total units sold was down only 11 percent compared to last year, which indicates the quality of assets trading is lower than those properties trading  in 2013. For example, in the first three quarters of 2013, just over $215 million in Class A properties were sold, compared to just over $37 million in 2014. This is an 83 percent decrease in total volume of Class A properties and caused the total multifamily average price per unit to drop by 24 percent. This is not an indication of values declining. In fact, the opposite is true. Properties that are being fully marketed and that are providing access to as many buyers as possible are fetching …

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Market ReportsOklahomaTexas Market Reports

Trend towards more square footage

by admin

As the national market recession began in 2008, and started to settle in throughout the city of Houston around mid-year 2009, businesses focused on the implementation of efficiency, accomplishing more with fewer resources applied to the daily routine. In most business models, the most expensive resources are the current staff, followed closely by office space. In that most office leases are illiquid, downsizing of non-essential personnel is logically the most expedient way to an immediate impact on the bottom line during an economic downturn. However, this also results in an immediate surplus of office space per person or phantom vacancy; a pattern logically should trend downward during a recessionary cycle in the economy. According to CoStar data from the 3rd quarter 2011 webinar, the average square footage per worker has increased by almost 10% since 2008, and leveling off after 2009 without significant decrease. Certainly, the trend is quite the opposite of what we would expect today, arguably even in a stable economy as the trend is increasingly toward efficiency. However, such excess may not only be to the lack of the ability to dispose of such vacancy, but the intentional positioning where employers are seeking to recruit quality personnel …

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Market ReportsOklahomaTexas Market Reports

Overall market doing very well.

by admin

What area is your expertise? My specialty is retail investment sales in Oklahoma. What trends do you see presently in retail development in your area? The Oklahoma City metropolitan area has experienced minimal local tenant turnover, but for the most part, leasing has stabilized. With the construction of new life style centers, mall tenants and even mall anchors are moving to the new open air developments. What type of retail product is doing well in your area? Recently developed shopping centers occupied with national tenants remain the front runner for solid retail investments and, as in most markets, well-located neighborhood centers continue to be successful. Free standing retail is still solid with very few vacancies; however, the verdict is still out as to what fallout the Metropolitan area will have from nationwide store closings. What retailers are new to your area? Conn s is the most recent retailer to the Oklahoma City area opening one store with three more planned. Who are the active retail developers in your area? Jackson Development, Sooner Investment Group, Blanton Property Co., Burk Collins & Co. and Larry Owsley. Please name one or two significant retail developments in your area. What impact will these projects …

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