(Bloomberg) -- The developer of the JW Marriott Dallas Arts District is exploring a sale of the luxury hotel in a deal that could value the property at roughly $190 million.

Sam Moon Group, which opened the hotel in July 2023, has engaged Eastdil Secured to advise on the potential sale, according to people familiar with the matter, who asked not to be named because the details are private. 

A representative for Eastdil declined to comment. A representative for Sam Moon Group didn’t immediately respond to requests seeking comment.

The 267-room property is part of a wave of luxury hotels that recently opened in the Dallas area to seize on the growth in the economy. Among new properties in the broader area are the Omni PGA Frisco, which includes two 18-hole championship-quality golf courses, and Harwood International’s Hotel Swexan, which opened in June. Developer Carpenter & Co. is planning a Four Seasons hotel in Dallas’ Turtle Creek neighborhood, expected to open in 2027.

Sam Moon Group initially started out as a wholesale retailer in the 1980s before expanding into real estate. Besides the JW Marriott, the firm’s Texas properties include the Coyote Ridge Golf Club in Carrollton, the Renaissance Dallas Hotel in Plano, and the Hyatt Place Alliance in Fort Worth.

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