- ICON acquired Sleep Inn in Texas.
- Hotel is near Dell HQ.
- Mumford Co. brokered the deal.
ICON LODGING ACQUIRED the Sleep Inn & Suites in Round Rock, Texas, from Burton Hotel Group of Round Rock LLC. The deal was brokered by Mumford Co.
Round Rock is a growing market in Central Texas, Mumford said in a statement. The hotel is near Dell headquarters, shopping areas and local attractions. It is about a 10-minute drive from Old Settlers Park and the Round Rock Sports Center, with access to the Austin metropolitan area.
ICON is a Texas-based hotel ownership and management company led by managing partners Piyush Patel and Nimesh Patel. The company has developed and built hotels in Texas, Arkansas and Louisiana, with properties under Hilton Worldwide Holdings, Marriott International, IHG Hotels & Resorts, Wyndham Hotels & Resorts and other brands.
Mumford Vice President Ryan Patterson handled the transaction from the firm's Dallas office, along with managing principals Ed James and Steve Kirby.
"We are grateful for the opportunity to represent our client throughout this transaction and appreciate the professionalism of all parties involved and congratulations to ICON Lodging on the acquisition," said Patterson. "We look forward to seeing the property's continued success under its new ownership."
Separately, NewcrestImage opened The Clara Hotel, a renovated 176-key property in Plano, Texas.
