Fort Worth's landmark Stockyards Hotel attracts attentive new owners
A landmark hotel in Fort Worth's Stockyards National Historic District has new owners: The Stockyards Hotel has been acquired by Stockyards Heritage Development Co., a joint venture of Majestic Realty Co. and the Hickman Companies.
According to a release, the acquisition also includes H3 Ranch, the steakhouse on property which will close for refurbishments, and Booger Red's Saloon.
The hotel and restaurant will become part of the company's Stockyards portfolio which also includes Hyatt Place Hotel, the award-winning Mule Alley, and Hotel Drover, an Autograph Collection resort.
Managing Partner Craig Cavileer says in a statement that they're "proud to take on this legacy property, a cornerstone of the District with its very prominent Main and Exchange location."
Listed on the National Register of Historic Places, the Stockyards Hotel dates back to 1906, starting out as a wood-framed building that became a hotel in 1907. In 1913, it was demolished and replaced with a three-story brick building, with then-luxury amenities that included two or more community bathrooms on each floor, ceiling fans in every room, and heat in the winter provided by steam from boilers in the basement.
The building was acquired in 1982 by Marshall Young and Tom Yater, who spent two years renovating before reopening it in 1984, with 42 rooms and 10 suites.
Stockyards Heritage Development Co. holds 70 acres in the 200-acre district, and has invested heavily in its revitalization, more than $200 million over the past three years, with an additional $500 million earmarked over the next five years.
The Drover was a cornerstone, says Kayla Wilkie, Director of Design and Development for Majestic Realty Co. and Stockyards Heritage Development Co.
"With the opening of the Drover last year we found an entirely new customer for the Stockyards, complemented by our new Mule Alley project," Wilkie says. "And we've hosted more than six million visitors to the Stockyards over the past year. With our new Stockyards Hotel and H3 property we look forward to honoring its rich history while working towards a refurbishment of the hotel over the next year."
H3 Ranch restaurant was founded by William, Robert, and David Hunter — the namesake 3 "H"s — who also owned the H3 Ranch in Nebraska. It'll be closed effective immediately while refurbishment and other improvements are made, before reopening in July.