SRH Hospitality to Develop 261-Room Westin-Branded Hotel Near Fort Worth

SOUTHLAKE, TEXAS — SRH Hospitality will develop a 261-room Westin-branded hotel on 6.8 acres in Southlake, a northern suburb of Fort Worth. SRH originally owned the land on which the property will be constructed and sold the tract to a Florida-based hedge fund in the form of a ground lease, proceeds from which will be used to finance construction of the hotel. The property will feature a 25,000-square-foot conference center with a ballroom, full-service restaurant and bar and a rooftop lounge area. SRH will operate the hotel and make monthly ground lease payments to the Florida-based hedge fund for a term of 99 years.