Lodging: Gatehouse Capital Announces $13.8 Million Hotel Project
Dallas-based Gatehouse Capital announced it has finalized agreements with the City of Decatur to develop a four-story, 107-room Fairfield Inn & Suites by Marriott on US 380 in Decatur. The $13.8 million project broke ground today and is expected to be complete in late 2017.
“The City of Decatur has an existing civic center and, with the addition of this hotel, the project will transform the area to attract multi-day events and be a catalyst for more growth in the city,” said Marty Collins, CEO of Gatehouse Capital. “We have seen this model work in other markets. This is our third public-private partnership for hotel-conference centers this year in the state of Texas and we expect to do more in the future.”
In addition to Gatehouse Capital, the team includes Texas Western Hospitality as the hotel operator; BOKA Powell Architects; UEB as the builder; and Fairfield Suites by Marriott Inc. Construction will take approximately 12 months to complete.