New Castle Acquires Historic LaSalle Hotel Near Texas A&M - Plans Renovation and Marriott Soft Branding
Julian Buffam and Jeremy Buffam, partners at NewCastle Hotels & Resorts (NCH), a leading hotel investment, development and management company, today announced the acquisition of the 55-room, historic LaSalle Hotel in Bryan, Texas. Built in 1928, the hotel is located in the heart of downtown Bryan, recognized by Forbes as the "Best Small Place" for education, business, and careers. Following an extensive interior and exterior renovation of the property, the LaSalle will join the Marriott Tribute Portfolio , a family of independent boutique hotels. Municipal incentives from the City of Bryan and historic tax credits will help support projected capital improvements of $110K per key.
Bryan is at the epicenter of Texas' five major metropolitan areas, Dallas, Fort Worth, Houston, Austin, and San Antonio and is the sister city of College Station, home to Texas A&M University, the largest university in the United States.
The LaSalle, which features a subterranean speakeasy, 5 Knocks and a lobby-level bar/restaurant Downtown Elixir and Spirits, will operate as an independent hotel through fall of 2023.