NexPoint introduced plans this week to open an InterContinental Hotels & Resorts-branded property in Dallas within the 42-story Cityplace Tower, which it acquired in August 2018. The 223-key hotel, slated to open in early 2022, will occupy eight of the building’s floors.
The hotel will feature a restaurant with a fourth-floor terrace, a full bar and a lounge. Amenities will include an outdoor pool, a fitness center, a business center and onsite parking.
The announcement marks the beginning of NexPoint’s redevelopment plans for the office building and the surrounding acreage. Other plans include expanding the surface parking lot, enhancing the shared spaces and amenities for tenants, renovating the lobby, introducing concourse-level food and retail offerings and constructing a new fitness center.
NexPoint is an alternative investment platform and affiliate of the Dallas-based asset management firm Highland Capital Management. NexBank Realty Advisors, another affiliate of Highland, manages the Cityplace Tower and will oversee its renovations. IHG will operate the hotel itself.
IHG franchises, leases, manages or owns more than 5,700 hotels and nearly 856,000 guestrooms in more than 100 countries. It has more than 1,900 hotels in its development pipeline.