The banquet area will grow to 27,500 from 22,000 sf. The clubhouse will expand to 370-seating capacity from 100. The corporate meetings business accounts for about 85% of the resort's total operation, meetings industry sources say.
Doral Tesoro general manager Sam Oliasami and principals at True North Management Group could not be reached by GlobeSt.com's deadline. Fort Worth hospitality sources tell GlobeSt.com the hotel has been showing a profit since 2004. Food and beverage operations booked $7 million this year, a number that represented the total revenue the resort posted in 2003.
Average daily occupancy is at the 60% level, up about 20% since 2004, according to knowledgeable area hotel sources. Revenue per available room is in the $70 range, up from $40 two years ago. The average price per room has risen to $135 from $98.
Management is also turning around the golf course, now hosting an average 120 tournaments per year, brokers familiar with the property tell GlobeSt.com.
Del Tesoro opened in 2001 as the Westin Beechwood within a planned 900-acre business park than never opened. The resort has changed names and management several times over the past five years.
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