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The Plasencia Group (TPG) Advises on the Sale of
The Sheraton Brookhollow, Dallas
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Disposition of 348-room full-service hotel further demonstrates TPG’s success in generating results for its clients – three properties totaling more than 900 rooms successfully marketed in the Dallas area in less than 3 months  

Dallas, Texas, February 23, 2004 – The Plasencia Group, Inc., the leading hospitality transaction and consulting services firm representing owners of hotels, resorts, and golf courses, served as advisor to MeriStar Hospitality (NYSE:MHX) in its sale of the Sheraton Brookhollow hotel to a Dallas investment group. Terms of the transaction were not disclosed. 

The sale of the 348-room property, which includes more than 16,000 square feet of meeting space and is strategically located to benefit from a recovery in the Dallas market, follows TPG’s sale of the 305-room Radisson-Brookhollow, also for MeriStar, in November 2003; and the sale of the 284-room Holiday Inn Select-Park, for The Chase Manhattan Bank, trustee, in December 2003. The three transactions totaled more 900 rooms, and resulted in the realization of significant value for TPG clients engaged in an ongoing strategic process of non-strategic asset disposition.

"The Sheraton Brookhollow is one of the Stemmons Corridor’s more attractive properties," said Robert Wiemer, Regional Vice President at The Plasencia Group, Inc.  "It is a fine full-service hotel in a prime location for business travelers.” He concluded, “The hotel is positioned to benefit from an economic recovery that will positively impact several dynamic demand generators, including the Southwestern Medical Center, the Dallas Market Center, and Dallas Love-Field.” 

CEO Lou Plasencia, concluded, “These dispositions are testimony to the effectiveness of close cooperation between client and advisor in marketing properties in a challenging market.” He concluded, “Thanks to a carefully planned and executed program, these dispositions were concluded quickly and efficiently.” 

Founded in 1993, The Plasencia Group, Inc. is the leading hospitality transaction and consulting services firm, representing public and private owners of hotels, resorts, and golf courses. With transactions encompassing close to 11,000 hotel rooms valued at well over $1 billion in the past twelve months alone, The Plasencia Group, Inc. has provided personalized, valued-added investment opportunities and services to clients such as Cigna Insurance, Host Marriott Corporation (NYSE: HMT), MeriStar Hotel Company (NYSE: MHX), Lend Lease Real Estate Investments and the Metropolitan Life Insurance Company.  With regional offices in Tampa, Chicago, Dallas, Houston, Little Rock, Providence and San Diego, The Plasencia Group, Inc. offers a full range of value-added solutions, including transactions, property valuation analysis, financial and strategic planning, asset management and disposition, and proprietary industry research.  Learn more about The Plasencia Group, Inc. at www.tpghotels.com.

Contact:
Michael Frenkel
MFC PR
 (212) 808-6556
michael@mfcpr.com
Also See: The Plasencia Group Advises on the Sale of Interest in the Don Cesar Beach Resort / December 2003
The Plasencia Group Advises on the Sale of the Hilton Garden Inn, Ybor City, Tampa / Sept 2003
The Plasencia Group Appoints Jessica L. Corcoran Director of Marketing and Business Development / Aug 2003
The Florida Mid-Year Lodging Report / Ernst & Young LLP / Sept 2003


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