NYLO to build second hotel in DFWorth
NYLO Hotels LLC will bring a second hotel to the Dallas area when it opens a boutique hotel in Las Colinas. The new loft-style hotel will break ground early this year and open around the same time in 2009.
The five-story, 200-room hotel will be located on more than 5 acres at the northwest corner of Royal Lane and Sierra Drive. NYLO acquired the property from iStar Financial Inc. (NYSE: SFI), a finance company that specializes in commercial real estate.
The Atlanta-based hotel company built a 176-room hotel in the Legacy business park, at Preston Road and Headquarters Drive in Plano that opened in December.
The hotels are part of a national expansion for the company, which accelerated its growth plan last spring when Lehman Brothers became an equity investor and strategic partner in the company.
The Plano hotel offers allergy-friendly rooms called “Pure Rooms,” which undergo a special purification process, use hypoallergenic linens and covers, and other techniques to make the air more friendly for allergy sufferers and sufferers of other respiratory illnesses.
NYLO plans to open 50 hotels in suburban and secondary markets throughout North America by 2010.
Web site: www.nylohotels.com