Las Colinas’ Four Seasons hotel sells to international investors

Las Colinas’ luxury Four Seasons Resort and Hotel has sold to an investment group.

The new owners plan a “multimillion-dollar capital improvement” for the 431-room Irving property.

The sale of the 36-year-old luxury resort comes several months after operator Four Seasons said that it will remove its flag from the hotel at the end of the year.

The hotel, which was home to the annual Byron Nelson Championship golf tournament for many years, has been purchased by investors Partners Group and Trinity Fund Advisors.

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Since 2018, the Irving golf course hotel, conference center and spa had been owned by New York-based Extell Development Co.

“This property is a premier resort destination centrally located within one of the fastest-growing markets in the country,” said Sean Hehir, CEO of Honolulu-based Trinity Fund Advisors. “We are pleased to acquire this high-quality asset at an attractive basis and look forward to leveraging our operational expertise to maximize its value.”

The Four Seasons Resort has 90,000 square feet of meeting and event space, a 14,000-square-foot spa and access to the adjacent Four Seasons Golf and Sports Club.

The new owners say they plan to renovate all guest rooms and villas, redo the hotel’s food and beverage outlets, renovate the meeting space and improve the outdoor pool area.

Terms of the sale were not disclosed.

Four Seasons Hotels said in January that it will continue to operate the Irving hotel through December.

“We have conviction in the Dallas metroplex area due to its strong local economy, solid employment rates and population growth,” said Partners Group’s Jason Longo. “The area is becoming an important regional business hub, and this premier resort is ideally positioned to benefit from rising corporate demand for venue space and increasing visitor numbers to the area.”

Based in Switzerland, Partners Group is a global investment firm with $127 billion in assets under management. The company also has offices in Denver and Singapore.

Trinity Fund Advisors, which operates from offices in Hawaii and Los Angeles, is a 26-year-old investment firm that has invested more than $8 billion in the United States, Mexico, Europe and Japan. Trinity Advisors has luxury hotels in Orlando, Maui, Miami, Phoenix, Los Angeles, San Diego and Los Cabos, Mexico.

Four Seasons is planning a new Dallas property on Turtle Creek just north of Uptown. The luxury hotel will be part of a high-rise mixed-use development planned by Boston-based Carpenter & Co. and Dallas’ Perot family.