Starwood Hotels & Resorts Worldwide, Inc. has recently announced its Sheraton brand will expand its portfolio in the Dallas-Fort Worth metropolitan area with a new hotel planned for McKinney, Texas. The City of McKinney and the McKinney Community Development Corporation (MCDC) are teaming up with Champ Hospitality and Beck Development to build the $38 million Sheraton McKinney Hotel at the corner of Highway 75 and the Sam Rayburn Tollway. The 186-room Sheraton will be McKinney’s first upscale, full-service hotel and will be connected to a 20,000 square-foot events center, both slated to open in February 2015. The hotel will be developed by Champ Beck Development, a joint venture between Champ Hospitality and The Beck Group which brings together Champ Hospitality’s 30 years of hospitality experience and Beck’s reputation as a leading designer and builder in the Dallas area for the past 100 years.
Funding for the project includes funds from the City of McKinney, private equity and bank financing. The City of McKinney will pay for the cost of the conference center which the City will own once it is open.