PILLAR: Core - Organizational Support
AGENDA DATE: September 9, 2026
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Government Affairs
PRIORITY: N/A
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SUBJECT
Title
A resolution for the Owner Cities of Dallas and Fort Worth to approve the purchase of the Hyatt Regency at Dallas-Fort Worth International Airport as a Public Facility Improvement Corporation (PFIC) Project, as required under the Articles of Incorporation of the Dallas Fort Worth International Airport PFIC - Financing: No cost consideration to the City
Body
BACKGROUND
Dallas-Fort Worth (DFW) Airport is requesting that the City of Dallas approve and authorize the purchase of the Hyatt Regency DFW as a PFIC project.
The 811-room Hyatt Regency DFW is located adjacent to Terminal C and is currently leased and operated by Woodlake HRDFW Hotel Owner, LLC (“Woodlake”). The existing lease commenced on October 23, 1986, and has up to 59 years of remaining term if all options are exercised. The Hyatt Hotel Management Agreement is coterminous with the lease.
The transaction was approved by the PFIC Board on July 29, 2026, and by the DFW Airport Board on August 6, 2026. Under the proposed transaction:
• PFIC would enter into a Purchase and Sale Agreement with Woodlake.
• PFIC would assume the existing hotel lease and Hotel Management Agreement.
• PFIC would purchase the hotel’s furniture, fixtures and equipment and inventory.
• The purchase price would not exceed $193.65 million.
• The lease would be amended to provide for additional rent to the DFW Airport Board in an amount equal to debt service associated with the purchase or future renovations.
• The transaction would be designated as an authorized PFIC project.
As part of its approval, the City would find and determine that the Hyatt Regency DFW constitutes a “Public Facility” under the PFIC Articles of Incorporation and applicable provisions of the Texas Transportation Code. The City would further determine that the hotel provides for the comfort and accommodation of air travelers and is beneficial to the operation and economic development of DFW Airport and to the development and diversification of the regional economy.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
On July 29, 2026 and August 6, 2026, the PFIC Board and the DFW Airport Board approved the Hyatt Regency DFW transaction.
FISCAL INFORMATION
No cost consideration to the City.