Fairmont: Xenia Hotels & Resorts Sells Fairmont Dallas for $111M

DALLAS - Xenia Hotels & Resorts (NYSE: XHR) has sold the 545-room Fairmont Dallas hotel for $111 million. The sales price equates to approximately $204,000 per room and represents a cap rate of 10 percent. The pet-friendly hotel, which opened in 1969, is located at 1717 N. Akard St. in the downtown area and offers both traditional guestrooms and suites. Amenities include a pool, meeting and event space and multiple onsite food-and-beverage options. The buyer was not disclosed. Xenia acquired the property in 2011 for $69 million.The post Xenia Hotels & Resorts Sells Fairmont Dallas for $111M appeared first on REBusinessOnline.