Dallas investment firms launch hotel venture, $36M acquisition - Bizjournals.com

Four of the hotels in the portfolio are located in Austin, College Station and Houston. The fifth hotel is located in Birmingham, Ala.

The firms share a common vision of acquiring properties at a discount to their replacement cost during the downturn, officials said.

"With the hospitality markets showing quicker rebounds in recessionary periods than most other classes of commercial real estate, we are excited about our growth possibilities and look forward to generating positive cash-flow for our investors," said Jeremy Robinson of Varro Hospitality, in a written statement.

Varro Hospitality is a co-equity investor in the venture with their Opportunity Fund I, a privately-held hotel investment company.

Gatehouse Capital is an investor that has developed a $1 billion portfolio of hotels including the W Hotels    W Hotels Latest from The Business Journals Guess which luxury hotel is bestMINU Jewels prepares for a major growth spurtRace to redo Old Post Office is about to begin Follow this company of Hollywood, Silicon Valley, San Diego and Dallas, as well as The Joule Hotel in Dallas, among others.