TRT Holdings Announces Plans to Build New Headquarters

IRVING, Texas, Jan. 25, 2012 /PRNewswire/ -- TRT Holdings today announced plans to relocate and consolidate its offices from Irving to Dallas.  The new offices, which will incorporate the headquarters for Omni Hotels & Resorts and Gold's Gym International, also based in Irving, are expected to open in the summer of 2013.

"This move to Dallas is significant because it speaks volumes about the economic vitality of our city and its appeal as a premier location for business headquarters," said Mayor Michael S. Rawlings.  "Workers want to be near the financial and social action, and at the new TRT Holdings, they will provide that action to their employees."

"This project underscores how the City can leverage its resources by making an investment that is expected to have a $7.5 million fiscal impact for the City over ten years and includes TRT Holdings making substantial financial and human resource investments in our City," added Mayor Rawlings.

The new headquarters building at 4001 Maple Avenue will be on the Old Parkland campus, which was developed and revitalized by Crow Holdings.  The original 8.3 acre Old Parkland site was expanded to 9.5 acres through the acquisition of adjacent property and is bound by the Dallas North Tollway, Maple and Oak Lawn Avenues.  The master planned business campus located a few miles north of downtown includes new buildings that complement the original and historic landmark structures. 

The headquarters will be built by Brasfield & Gorrie - who recently opened a Dallas office - and is also currently building the Omni Nashville Hotel.  Brasfield & Gorrie, as the design/builder, has hired HKS in Dallas to design the headquarters in keeping with the other buildings on the Old Parkland campus.  With approximately 170,000 square feet, the six-story Jeffersonian-style building will feature numerous amenities designed to help attract and retain top employees to the companies, including a cafe, health club, conference center, underground parking and a spacious back patio.  Approximately 275 total associates from TRT Holdings, Omni Hotels & Resorts and Gold's Gym International will move in the building. 

"As our organizations continue to grow and prosper, we want to ensure that our office environment meets the needs of our teams today and far into the future," said Jim Caldwell, president of TRT Holdings.  "We are excited to bring everyone together, and we envision a setting which will enable our associates and our businesses to thrive."

Earlier today, the Dallas City Council confirmed a ten-year tax abatement on 90 percent of the real property improvement value resulting from the new facility and a $200,000 economic development grant as an incentive for the project.  While estimated forgone revenue from the tax abatement is approximately $2.3 million, the project is expected to have a $7.5 million fiscal impact for the City over 10 years.  TRT Holdings anticipates making a $40 million investment in the project.

About TRT Holdings

TRT Holdings is a privately-owned, diversified holding company located in Irving, Texas.  Assets include Omni Hotels & Resorts, Gold's Gym International, Tana Exploration and numerous investments in public companies and various real estate ventures.  

About Crow Holdings/Old Parkland

Crow Holdings is a privately held investment firm that specializes in real estate investments on behalf of the Trammell Crow family and its investment partners. Since entering the fund business in 1998, Crow Holdings has acquired and/or developed over $8.5 billion in gross asset value.  In addition, the firm directs the non-real estate investments of the Trammell Crow family.  For more information, visit oldparkland.com.

About Omni Hotels & Resorts

Omni Hotels & Resorts creates genuine, authentic guest experiences that take guests on "A Total Departure" to 50 distinct luxury hotels and resorts in leading business gateways and leisure destinations across North America. From exceptional golf and spa retreats to dynamic business settings, each Omni showcases the local flavor of the destination while featuring four-diamond services, signature restaurants, Wi-Fi connectivity and unique wellness options. Known for its award-winning, personalized service, Omni leaves a lasting impression with every customer interaction, with a heightened level of recognition and rewards delivered through its Select Guest loyalty program and the company's "Power of One" associate empowerment program. Earlier this year, Omni's loyalty program was further expanded with the launch of the GHA Discovery® loyalty program expanding numerous benefits on a worldwide basis as a member of the Global Hotel Alliance.  The brand is frequently recognized by top consumer research organizations such as Harris Interactive's most recent EquiTrends® report which ranked Omni as the Top Luxury Hotel Brand in 2011.  To get additional information or book accommodations, visit omnihotels.com or call 1-800-The-Omni.

About Gold's Gym International

Established in Venice, Calif. in 1965, Gold's Gym International is the largest full-service gym chain in the world with more than 700 locations in 42 states and 30 countries. The iconic brand ranks in the top 15 percent of Entrepreneur magazine's 2011 "Franchise 500." Gold's Gym offers the latest equipment and services, including group exercise, personal training, cardiovascular equipment, group cycle, Pilates and yoga. With nearly 3.5 million members worldwide, Gold's Gym helps all kinds of people achieve their individual potential through fitness.  For more information please visit goldsgym.com or facebook.com/goldsgym.

About Brasfield & Gorrie

Brasfield & Gorrie is a full-service general contracting, construction management, and design/build service provider, averaging $2 billion in revenues in recent years.  Our experience is diverse – hospitality, healthcare, government, industrial, office, institutional, retail, education, and water treatment facilities. Our legacy is long - we are proud to be the largest general contractor in the Southeast and to have served our clients for more than 48 years.  But most importantly, our focus is on the human element that makes us who we are.

About HKS, Inc.

HKS, Inc. is a leading architectural design firm ranked among the top five architectural engineering firms, according to Building Design+Construction magazine, and among the top 11 architectural firms, according to BD World Architecture magazine. Since its founding in 1939, HKS has completed construction projects totaling more than $69 billion in more than 1,069 cities located in 46 states, the District of Columbia and 65 foreign countries. The firm operates from 29 offices worldwide. For more information, visit www.hksinc.com.

SOURCE TRT Holdings