Palomar Hotel in Dallas could be changing hands

Will the 198-room Palomar in Dallas have a new owner soon? Could be, reports Dallas News. The hotel is owned by a company controlled by Addison, Texas-based investor Behringer Harvard, who earlier this month entered into an agreement with an outside investor to buy the hotel for $48 million. This according to filings with the Securities and Exchange Commission.

The undisclosed buyer has already put up $1 million in "earnest money" toward the transaction, and has until the end of June to drop out of the deal without losing the cash.

Behringer Harvard in 2005 formed a partnership to redevelop the derelict Hotel Santa Fe into a mixed-use project with luxury accommodations, condos and retail space.

Virtual Event

HOTEL OPTIMIZATION PART 2 | SEPTEMBER 10 & 24, 2020

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.


Only the hotel and retail space are included in the pending sale. The condominium tower is in separate ownership.

Built in the 1960s as the Hilton Inn, the Palomar is operated under a long-term management contract by Kimpton Hotels.

Read more on

Suggested Articles

The Urban Park Hotel Collection is currently looking at hotels with 25 to 85 rooms, which will include both independent and franchise properties.

While occupancy, rate and revenue all improved from July, they were still significantly down year over year.

U.S. Diversity Group is the first SEC-registered hotel investment fund owned by African Americans, according to the company.