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New Ownership Group Formed for the 231-room Hilton
Dallas/Rockwall Lakefront in Texas

Previous Owner, Whittle Development, Partners with The Redstone
Companies and BBA Capital to Acquire the Hotel

DALLAS - August 8, 2012 – Affiliates of The Redstone Companies, L.P. and BBA Capital, LLC have formed a joint venture with Sara and Rob Whittle and Mike Whittle and acquired Hilton Dallas/Rockwall Lakefront in the exclusive lakeside community of Rockwall, 22 miles east of downtown Dallas. The Whittles designed and built the property, which opened in 2008. The Whittles brought in Redstone and BBA Capital to create a newly formed venture to acquire the hotel.

“We are extremely excited to partner with Redstone and BBA Capital to take Hilton Dallas/ Rockwall Lakefront to the next level,” said Rob Whittle. “We recently added a modern 52-seat amphitheater style training center to complement our 28,000 square feet of meeting space. With our new partners, we will continue to grow the property with new renovations to preserve an exceptional experience and to continue offering first-class customer service for our guests.”

“Hilton Dallas/Rockwall Lakefront has always been supportive of philanthropic causes in Rockwall County and North Texas, and our new partners also share this enthusiasm,” added Sara Whittle.

Hilton Dallas/Rockwall Lakefront is a AAA 4 Diamond Award property. It features 231 rooms including 16 suites, and four themed suites. The hotel boasts over 28,000 square feet of meeting and event space encompassing 17 separate meeting rooms, including the spacious 11,870-square-foot Bella Harbor Ballroom and a 52-seat corporate training center equipped with state-of-the-art teleconferencing and videoconferencing capabilities. The hotel also features a fitness center, business center, resort pool and numerous dining options with award-winning cuisine. The beautiful rotunda Compass Rose offers spectacular outdoor views to enjoy the ideal year-round beauty of Lake Ray Hubbard for meetings, meal functions, and receptions. The hotel is set in The Harbor Rockwall, a Mediterranean-style boardwalk development featuring excellent shopping, dining and entertainment.

Since opening in 2008, the Hilton Dallas/Rockwall Lakefront has enjoyed a steady growth of business under the management of Gateway Hospitality Group. Gateway will continue to manage the property and maintain its prominence in The Harbor at Lake Ray Hubbard. City Bank Texas provided permanent financing for the acquisition as part of the transaction.

About Hilton Dallas/Rockwall Lakefront
Hilton Dallas/Rockwall Lakefront on Lake Ray Hubbard Lakefront Dallas/Rockwall is a AAA 4 Diamond Award property. It offers 231 rooms including 16 suites, and four themed suites. The hotel boasts over 28,000 square feet of meeting and event space encompassing 17 separate meeting rooms, including the spacious 11,870-square-foot Bella Harbor Ballroom and a 52-seat amphitheater equipped with state-of-the-art teleconferencing and videoconferencing capabilities. The beautiful rotunda Compass Rose offers spectacular outdoor views to enjoy the ideal year-round beauty of Lake Ray Hubbard for meetings, meal functions, and receptions.

Guestroom amenities include the Hilton Serenity Bed, a modified Mirra chair by Herman Miller, a 32" Philips flat panel, high-definition television and an innovative bedside clock allowing travelers to play their MP3 player. Additional features include coffeemaker and mini refrigerator, a sitting area with an easy chair and ottoman, a hairdryer, and an iron and ironing board. In-room entertainment and information services include video-on-demand movies and interactive Hilton guest services.

Business-oriented features include complimentary high-speed internet access and secure remote printing to the hotel's 24-hour business center, a spacious work desk and adjustable lighting; electrical outlets at desk height, and two telephones equipped with voice mail and data ports. A workout facility, outdoor swimming pool and whirlpool, and valet laundry services are also offered for guests' convenience.

Situated in the heart of the Harbor Area, Hilton Dallas/Rockwall Lakefront is near fine retail, splendid dining options, Movie Theater, and a golf course. Dallas/Fort Worth International Airport is 45 minutes away; Dallas Love Field is 25 minutes away. For more information, please visit www.dallasrockwall.hilton.com or call 214 771 3700.

About Whittle Development
Rob Whittle and Sara Whittle of Whittle Development have distinguished themselves as the largest private residential developer in the fastest growing county in Texas. They have shaped the residential landscape in Rockwall County, with more than a dozen separate communities with home values from the low $100,000s to more than $2,000,000, including the development of the Buffalo Creek Golf Course and more than 600 associated lots. Their development of the Harbor District and Hilton Dallas/Rockwall Lakefront has become the entertainment and civic center for Rockwall County. Rob and Sara’s vision culminates in Heath Golf & Yacht Club – combining the ultimate in recreational amenities and residential development in the Dallas metropolitan area.

About The Redstone Companies
The Redstone Companies is a privately-owned company located in Houston, TX, with a focus on real estate, hospitality and private equity. Redstone Companies Real Estate is strategically focused on real estate acquisitions, development and growth opportunities that are aligned with Redstone’s strategic objectives and business philosophy. Properties in Houston include The Redstone Building, BBVA Compass Plaza at 2200 Post Oak Boulevard, Wilson Road Office Building and 2020 McKinney.

Redstone’s owned and operated hospitality brands include The Houstonian Hotel, Club & Spa; Trellis, The Spa; Houstonian Lite-Pennzoil; Health Club at Travis Place, Shadow Hawk Golf Club; The Houstonian Golf & Country Club; Redstone Golf Club; and BlackHorse Golf Club. Managed properties include Houstonian Lite-Wells Fargo and Vanderbilt Legends Club in Franklin, TN.

The Redstone Companies has been involved with many charitable programs throughout the years, including, but not limited to, the Shell Houston Open, The First Tee of Greater Houston, the YMCA of Greater Houston and the Zina Garrison Academy. For more information, please visit www.redstonecompanies.com.

About BBA Capital, LLC
BBA Capital, LLC is a development and investment affiliate of K. Alan Russell of El Paso, Texas. Mr. Russell’s real estate investment and development experience over the past 30 years has been extensive. His most recent real estate endeavors range from industrial facility joint ventures with ING/Clarion to residential resort golf course developments. BBA benefits from his extensive real estate experience, keen attention to detail and operational efficiencies, honed by his success in the maquila industry, with insight into market trends and the dynamics of capital and financing. Mr. Russell is also the President and CEO of Tecma, Inc., a significant owner and operator of maquilladoras in Mexico providing contract manufacturing services to a retinue of esteemed international clients. For more information, please visit www.tecma.com.

About Gateway Hospitality Group
Gateway Hospitality Group is an independent master developer and ongoing operator of complete hospitality packages from hotel concept visioning to daily food and beverage budgeting. Owned and managed by experienced hospitality specialists, Gateway Hospitality Group is also an authorized Hilton, Hyatt and Marriott Hotels management company for both limited-service with conference space and full-service hotels.

Gateway Hospitality Group, the management company for Hilton Dallas/Rockwall Lakefront, Rockwall, Texas, is also the hospitality management company for Hilton Garden Inn Newburgh/Stewart Airport, Newburgh, New York; Hilton Garden Inn Cleveland/Twinsburg, Twinsburg, Ohio; Hilton Garden Inn Perrysburg/Toledo, Perrysburg, Ohio; Hilton Garden Inn Cincinnati/Blue Ash, Blue Ash, Ohio; Hilton Garden Inn Dallas/Allen and Hampton Inn and Suites, Allen, Texas; Hilton Garden Inn Dallas/Duncanville, Duncanville, Texas; Hilton Garden Inn Dallas/Lewisville, Lewisville, Texas; Hyatt Place Dallas/Garland, Garland, Texas; Hilton Garden Inn Missoula, Missoula, Montana; Hilton Garden Inn Billings, Billings, Montana; Hilton Garden Inn Kalispell, Kalispell, Montana; Hilton Garden Inn South Bend, South Bend Indiana; Blue Canyon Kitchen * Tavern, Twinsburg, Ohio; Blue Canyon Kitchen * Tavern, Missoula Montana; and Blue Canyon Kitchen * Tavern, Kalispell, Montana. Visit www.ghghotels.net.

About Hilton Hotels & Resorts
One of the most recognized names in the industry, Hilton Hotels & Resorts stands as the stylish, forward thinking global leader in hospitality. From inaugural balls and Hollywood award galas to business events and days to remember, Hilton is where the world makes history, closes the deal, toasts special occasions and gets away from it all. The flagship brand of Hilton Worldwide continues to build upon its legacy of innovation by developing products and services to meet the needs of tomorrow's savvy global travelers while more than 144,000 Team Members shape experiences in which every guest feels cared for, valued and respected. Today, the Hilton Hotels & Resorts portfolio includes more than 550 properties in 80 countries and the brand remains synonymous with "hotel." Access the latest Hilton news at http://news.hilton.com or begin your journey at www.hilton.com. Social media users can engage with Hilton at www.twitter.com/hiltonhotels, www.facebook.com/hilton and www.youtube.com/hilton. Hilton Hotels & Resorts is one of Hilton Worldwide’s ten market-leading brands.

Contact:
 
 Andy Papoutsis
Hilton Dallas/ Rockwall Lakefront
+1 214 771 3700
andy.papoutsis@hilton.com

Kim Phillips
The Redstone Companies
+1 713 268 8094
kphillips@redstonecompanies.com


 

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