DALLAS, Jan. 16, 2019 /PRNewswire/ — Civitas Capital Group («Civitas»), a leading independent specialty asset management and financial services firm, received Marriott International’s 2018 CONNECT Developer of the Year award. For the second year in a row, Civitas has been recognized by Marriott for its ongoing success in developing distinct, state-of-the-art properties.
Civitas received the award for its co-development of AC Hotel and Residence Inn Dallas by the Galleria. Civitas partnered with Atlantic Hotels Group to develop the property, which opened in April 2018 and which Civitas sold in May 2018. The hotel features 256-rooms, sits adjacent to the Galleria Dallas, and is within a one-mile radius of over 11.5-million square feet of office space in Dallas, Texas.
«It’s an honor to be recognized by Marriott International, and we are extremely proud to have won this award in consecutive years,» said Caroline Perel, Managing Director of Civitas Capital Group.
In 2017, Civitas received Marriott International’s 2017 CONNECT Developer of the Year award for its development of the dual-branded Aloft and Element Dallas Love Field hotel, which also won a Dallas Business Journal «Best Real Estate Deal» award in 2016.
«The past two years, Civitas has been recognized for projects that employ a dual-branded strategy, the goal of which is to capture two market segments – transient and extended-stay travelers,» Perel said. «They provide efficiencies both in terms of development and operations with no compromise to quality or amenities. We’re delighted to have worked with Marriott to execute this vision.»
The hotel boasts a stylish tapas bar, an outdoor pool, as well as a 24-hour gym. Other amenities include seven meeting rooms, a coin-operated laundry room, and a grocery store.
Marriott presented the Developer of the Year Award to Civitas during the 2018 CONNECT Conference in late December in San Diego, California.
Civitas Capital Group is a Dallas, Texas-based alternative asset firm that provides a range of products and services for institutional investors, family offices, and qualified individuals. The firm, which has more than $1.3 billion of assets under management in more than 50 investments, focuses on compelling, niche investment strategies in U.S. real estate and lodging. The Lodging Group at Civitas has deep expertise in U.S. markets and international cultural competency. The Lodging Group is unique in that it participates in various stages, including: development, acquisition, advisory, and investing – a distinct advantage in the marketplace. Civitas’ executive team has over 100 years of combined investment experience, including more than 80 years of collective hospitality experience. For more information, please visit civitascapital.com.
Atlantic Hotels Group is a rapidly expanding hotel owner and operator with interests throughout the Dallas/Fort Worth Metroplex. Atlantic continues to embark on a strategic growth plan that compliments and supplements hotel ownership and operations. Franchises of Marriott, Hilton, Starwood and InterContinental Hotels, Atlantic combines extensive resources and unparalleled depth and dexterity that allow the company to succeed in any marketplace. The company has a well-deserved reputation for consistently delivering a great product, great service and great results. For more information, please visit www.atlantichotelsgroup.com.
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