SAG assisted Houston First Corporation (HFC) with identifying and negotiating with a development partner for its second convention hotel. In 1998, SAG assisted the City of Houston with developing the 1,200-room Hilton Americas through a non-profit hotel structure. The hotel has performed well and has generated positive cash flows for the non-profit HFC. In early 2014, SAG was named asset manager for the Hilton Americas.
For the second HQ hotel, HFC identified and negotiated a development agreement with a private developer/owner. Our services included managing the developer solicitation process, negotiating term sheets with the top two developer teams, financial analyses of each proposal, assisting the legal team in the contract process. The groundbreaking for the hotel was in April, 2011 and it is sheduled to be open in 2016.