Competitive Position — Hilton Anatole Dallas

Brand Pecking Order — National vs Local

National (Texas)

1 Autograph Collection

$177

2 Curio Collection

$135

3 Marriott

$126

4 Le Meridien

$125

5 Hyatt Regency

$124

6 Westin

$122

7 Hilton ←

$117

8 Renaissance

$117

9 Embassy Suites

$103

10 Sheraton

$82

Local — Dallas CBD/Market Center

1 Autograph Collection ↑ same

$196

2 Marriott ↑ 1

$150

3 Le Meridien ↑ 1

$173

4 Curio Collection ↓ 2

$171

5 Westin ↑ 1

$134

6 Hilton ← ↓ 1

$126

7 Renaissance ↑ 1

$113

8 Embassy Suites ↑ 1

$95

9 Sheraton ↑ 1

$84

Weighted RevPAR (total revenue ÷ total rooms ÷ 365). National = all Texas properties with ≥3 locations. Local = Dallas CBD/Market Center tract.

Revenue Opportunity — The Gap

Hilton National RevPAR

$117

#7 of 10 Upper Upscale brands in TX

Hilton Local RevPAR

$126

+$9 vs national

Only 1 hotel (the Anatole) — brand IS the hotel here

Chain Scale Avg (Tract)

$137

Upper Upscale weighted avg in tract

RevPAR Gap to Peers

-$11

$126 vs $137 chain scale avg

Annual Revenue Upside

+$6.5M

$11 × 1,617 rooms × 365 days

NOI Impact (25% margin)

+$1.6M

At 7% cap = $23M value creation

Gap = hotel RevPAR vs weighted avg of all Upper Upscale hotels in Dallas CBD/Market Center. Revenue upside assumes gap can be partially closed through repositioning or management.

Brand Performance Index — Dallas CBD/Market Center (2017–TTM)

Each line = brand RevPAR indexed to chain scale average (100 = par). Above 100 = outperforming peers.

Hilton Anatole

Marriott

Westin

Sheraton

Autograph

100 = Chain Scale Average

Index = brand weighted RevPAR ÷ chain scale weighted RevPAR × 100 in Dallas CBD/Market Center tract. Hilton Anatole trending from ~105 pre-COVID to 92 TTM — losing ground to Marriott and Autograph.

What's Driving the Gap — Subject vs Top Performer

	Hilton Anatole	Marriott Uptown (Leader)
TTM RevPAR	$126	$218
TTM Revenue	$74.6M	$20.2M
Rooms	1,617	255
Revenue / Room	$46.1K	$79.4K
YoY Change	-10.1%	+7.1%
Properties in Tract	1	3
Brand National Rank	#7 / 10	#3 / 10

Key Insight

The Anatole's 1,617 rooms make it 6× larger than the tract leader. Large convention hotels typically trade RevPAR for volume — the gap to Marriott Uptown is expected. More telling: it's also below Westin ($134), Renaissance ($113), and its own 2024 peak ($136). The -10.1% YoY decline is the real signal.

Competitive Scorecard — Hilton Anatole Dallas

vs Hilton (Texas)

62nd

percentile

Above average for brand

vs Hilton (Tract)

Only
hotel

in tract

No local brand peers

vs Upper Upscale (Tract)

38th

percentile

Below most UU peers locally

vs All Hotels (Tract)

72nd

percentile

Beats most non-UU hotels

Acquisition Thesis

Hilton Anatole is a 62nd percentile Hilton nationally but only 38th percentile vs Upper Upscale peers in its own tract. The hotel peaked at $136 RevPAR in 2024 but has pulled back to $126 (TTM), suggesting execution or demand softness rather than structural decline. Closing the $11 gap to chain scale average = $6.5M incremental revenue / $1.6M NOI. The -10.1% YoY trend requires investigation — convention demand cycle or management issue?