Texas hospitality is concentrated across Dallas-Fort Worth, Houston, Austin, San Antonio, and the broader Texas Triangle. Texas is the dominant Sun Belt CRE market and one of the deepest institutional CRE markets in the country across every property type; the Texas Triangle (DFW, Houston, Austin, San Antonio) accounts for the substantial majority of the state's CRE volume; sustained corporate relocation, no-state-income-tax framework, and deep population growth produce one of the most actively financed state-level CRE markets in the country . Texas hospitality is one of the deeper national lender markets: Dallas-Fort Worth and Houston business and convention hospitality, Austin business-and-leisure hospitality (anchored by the convention center and SXSW), San Antonio Riverwalk and convention hospitality, and the broader Texas Hill Country resort hospitality each have distinct specialty lender pools
Active capital sources
- Hospitality CMBS Lenders
- Specialty Hospitality Debt Funds
- Texas Regional Banks
- Life Companies (Trophy Product)
Loan programs we place
- Stabilized Hospitality Perm Debt
- Hospitality Bridge / PIP Renovation Capital
- Construction-to-Perm (Credit-Flagged)
- Hospitality Refinance / Recapitalization
Source notes
- BLS QCEW, 2025
Frequently asked questions
What LTV is realistic on stabilized Dallas-Fort Worth hotels?
Stabilized credit-flagged full-service and select-service hotels typically clear 55% to 65% LTV through hospitality CMBS and specialty hospitality debt funds; debt yields of 11.0% to 13.0% effectively size most highly leveraged executions . Trophy and resort product can stretch into the 60% to 70% range on the back of asset quality and trailing-twelve-month RevPAR durability.
Are independent and boutique hotels financeable in Texas?
Yes. Independent and boutique hospitality draws a narrower but real lender pool focused on operator track record, trailing-twelve-month performance, and the asset's competitive position.
What is Texas's transfer tax structure for commercial hospitality?
Texas does not impose a state real estate transfer tax. Recording fees are nominal. The absence of a state transfer tax materially reduces closing costs versus most peer states, but Texas's structurally high commercial property tax loadings are the more material ongoing-ownership cost variable that lenders model into NOI underwriting on every deal.
How do lenders underwrite PIP-renovation and value-add hospitality in Texas?
PIP-renovation and value-add hospitality bridge debt is available through specialty hospitality debt funds active on Texas files. Stabilized take-out through hospitality CMBS or, for trophy product, life-company perm debt is the typical exit. Sponsor PIP-execution track record and franchise-system relationship are central underwriting variables.