High flying: Dallas airport-adjacent hotels draw $49M in investment

Investors are targeting hotels near Dallas’ two primary airports. Irving Mahadev, an entity linked to the Patel family of North Texas hoteliers, filed plans last week to replace the Comfort Inn by DFW International Airport with a new Hilton-brand hotel, according to the Texas Department of Licensing and Regulation. Irving Mahadev is an LLC registered to Mukund Patel, the senior member of the Irving, Texas-based father-and-son Magnolia Hospitality Group. Patel’s son Mehul Patel is also involved in the hospitality business. The entity plans to spend $19 million to replace the existing hotel at 5000 West John Carpenter Freeway in Irving, [...] This article originally appeared on The Real Deal. Click here to read the full story.