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Omni Hotels & Resorts is weighing a potential sale of five of its U.S. properties: the Omni Jacksonville Hotel in Florida and the Omni Dallas Hotel at Park West, Omni Austin Hotel at Southpark, Omni San Antonio Hotel at the Colonnade and Omni Houston Hotel at Westside in Texas.
According to Omni Hotels & Resorts president Peter Strebel, proceeds from the sale of these assets would be put toward “reinvesting capital into the convention center and resort market space.”
“Pursuing the potential sale of assets that no longer align with the direction of our brand was a part of our strategy pre-Covid,” said Strebel in a statement. “The hospitality industry was impacted immensely by the pandemic and as we emerge from this crisis, we must be forward thinking about our brand strategies and portfolio offerings.”
Omni has been heavily focused on building its presence in both the resort and group/convention center sectors in recent years, acquiring five resorts from private equity firm KSL Capital Partners in 2013 and expanding with newbuild group- and convention-focused properties in Fort Worth and Dallas, Texas; Nashville; Louisville between 2009 and 2018.
Omni plans to open three additional properties, including the Omni Viking Lakes Hotel in Minnesota, Omni Oklahoma City Hotel and Omni Boston Hotel at the Seaport, later this year. The company also plans to debut the Omni PGA Frisco Resort in Texas in 2022.
Concurrent with expansion, however, the company has opted to permanently close its Omni Berkshire Place hotel in Midtown Manhattan, citing swift and significant impact from the Covid-19 crisis.
Source: travelweekly.com