New Upscale Lubbock Hotel to Go Private Label

[mrfootball]

Overton hotel to be taken private label

http://www.lubbockonline.com/stories/05280...052806034.shtml

It was a shining moment for McDougal Cos. when the privately held family company was finally able to announce plans for a new upscale, multi-story hotel for Overton Park. That was in January.

A lot has happened since then.

I had a chance to talk last week with Ray Garfield Jr., president of Garfield Traub Development in Dallas, which will oversee the construction of the hotel.

Let's make one thing clear at the outset: This property will not be flagged as a Westin, Doubletree or even a Marriott.

It is being taken private label by Garfield Traub's partner Gal-Tex Hotel Corp. - a Galveston-based hotel management company. This will save an enormous amount of money on franchise costs.

Garfield tells me as a result of the decision, the development company will be able to add an additional 20,000 square feet to the project as well as a host of amenities it did not envision earlier.

This means Lubbock will get a larger conference center, larger meeting rooms, larger hotel rooms and what he described as a "wow effect" that will knock you over when you enter the lobby.

Garfield said the company plans to close on the land as part of an agreement with McDougal Cos. at the end of this month.

From there, the project moves into high gear.

Garfield-Traub hasn't finalized the cost, the size or all the amenities that will be in place when the hotel opens in July 2008.

"But we're on schedule," he said.

The company initially estimated it would cost $40 million to build a nine- to ten-story structure. Now it looks as though it will be larger.

"Right now, we're still in the pre-development feasibility stage, so there's a lot of planning left to do" he said.

Garfield said work on the 275-room luxury property, which will be built at the northeast corner of Sixth Street and Avenue X, will start in late December or early January.

He said a lot of planning and design work have already gone into the structure. "But it's going to take a better part of the summer and fall before we get this where we want it."

Garfield said the company sided with its partner on a decision to take the hotel private.

He said Gal-Tex knows a few things about a marketing a private label property given the fact it has been in the business 50 years.

"They think they can take the money (saved on franchise fees) and not just market this property, but add other amenities," he said.

Garfield said he's personally rejected two exterior/interior architectural renderings of the property and is shooting higher.

"The few I've seen just haven't been to my liking. We're still tweaking it. We want a building that you can be proud to see on the skyline, but we also want a building on the inside that just makes you want to say 'Wow.'''

I say wow to that.

To comment on this story:

chris.vanwagenen@lubbockonline.com t 766-8744

karen.brehm@lubbockonline.com t 766-8706

[WTx]

Good news for Lubbock! They are really beginning to move up in the world!

[KDubRedRaider]

This should be a great thing for the Overton area!

[mrfootball]

I think it will be great for Lubbock and the South Plains area in general. As Lubbock will now have a true destination hotel that can facilitate large conferences, symposiums and conventions. I think it will contribute greatly towards continued economic development of this region. It's right across the street from Jones AT&T and the Tech campus, as well as minutes from the Rawls Course (which Golf Digest recently rated as the #1 Public golf course in Texas).

[KDubRedRaider]

Well I live about 3 blocks from where this hotel is going to go up and I know that a Chili's is under construction right off of University Ave. across the street from the new Starbuck's in front of the Centre at Overton Park.

I can't wait to see what other things are going to start popping up in that area.

[smartalek]

Well I live about 3 blocks from where this hotel is going to go up and I know that a Chili's is under construction right off of University Ave. across the street from the new Starbuck's in front of the Centre at Overton Park.

I can't wait to see what other things are going to start popping up in that area.

I lived in Overton park while attending Tech and was a little dismayed to see such wholesale urban renewal as in total leveling of everything in the area. But moving on, hopefully the new development will produce some steller results. It will be nice to have a hotel to stay in right across from the campus.

Hopefully the new development will have some effect on stabilizing the remaining part of Overton from Broadway to University. That is a wonderful mix of architectural styles, one of Lubbocks oldest developments and if Im not mistaken has been designated historic. Lubbock could show other cities in Texas a thing or two about urban planning as in landscape requirements, sign restrictions, buried utilities.