Fort Worth: Two Decades of Shaping a Destination
By Rob Hunden
As Hunden Partners marks 20 years of shaping destination real estate, Fort Worth stands out as one of the most enduring and impactful examples of our work.
Prior to forming Hunden Partners, Rob Hunden began advising the City in 2001 on the feasibility, financing, and development of what became the highly successful Omni Fort Worth convention headquarters hotel. After forming Hunden Partners in 2006, we advised the developers of the Fort Worth Stockyards on a multi-year expansion that doubled visitation to DFW’s most visited attraction, increased visitor dwell time, and generated exponential growth in economic impact. In 2013, Hunden resumed work related to Dickies Arena, including funding strategy and modeling of the Project Finance Zone (PFZ) mechanism that was key to funding the arena, while at the same time studying the need for expansion of the Fort Worth Convention Center (FWCC) and addition/expansion of headquarters hotel options.
What began as early-stage strategy work has grown into an ongoing advisory role that continues to influence major investment decisions, tourism growth, and long-term economic development, including the recently completed first phase of the FWCC expansion, several walkable hotels, the PFZ modeling and more Stockyards-related work over the past 15 years.
Hunden also completed critical work on the future of Will Rogers Memorial Center, including managing the process to update and select a new food and beverage provider.
Continuing our passion and work related to long-term asset management, Hunden also completed a governance study and we continue to advise the City on the ultimate structure that will optimize the FWCC, Visit Fort Worth’s role, the City’s role, and third-party vendors who can be leveraged to support long-term venue performance and operational success.
A Long-Term Advisory Partnership
What makes Fort Worth unique is not just the projects themselves, but the continuity of the relationship.
Over more than two decades, Rob Hunden and his firm have served in an advisory role to the City, providing market research, financial feasibility analyses, development advisory, economic impact studies, governance and asset management advisory across a wide range of initiatives. This work has included convention center expansion, hotel development strategies, entertainment venues, tourism development initiatives, and funding mechanisms tied to tourism growth.
A key component of this work has been the development and continuous refinement of Project Financing Zone models. These models project incremental hotel tax revenues generated by new development and play a critical role in funding major public projects. Hunden Partners continues to work alongside City leadership, updating projections, advising on market conditions, and helping translate data into actionable funding strategies.
Transforming the Stockyards into a Modern Destination
Beyond downtown, Hunden Partners has also played a key role in shaping one of Fort Worth’s most iconic areas: the Stockyards National Historic District.
Working with Fort Worth Heritage LLC, we conducted market and financial feasibility analyses for a large-scale redevelopment designed to preserve and enhance the district’s authentic character that included a destination hotel (the Hotel Drover), equestrian facilities, and expanded retail, dining, residential, additional hotel, and entertainment offerings.
This vision helped inform the transformation of Mule Alley and the introduction of Hotel Drover, a 200-room boutique hotel that anchors a revitalized district blending historic character with modern experiences. It has performed beyond expectations and demonstrates the strong market demand for high-quality, experience-driven development. When experience and authenticity are the focus of design and execution, the market responds, in this case, with average daily rates that have significantly outperformed both the competitive set and the original underwriting assumptions.
The results have been significant. The Stockyards now attract approximately 9 million visitors annually, supported by a mix of heritage programming, new development, and ongoing investment.
Hunden Partners was later retained again to evaluate additional equestrian facilities, reinforcing the importance of aligning new development with the district’s authentic identity and core demand drivers.
Supporting the Next Phase of Growth
Fort Worth’s momentum continues.
The City has advanced a multi-phase convention center expansion exceeding $600 million, alongside a proposed major expansion of the Omni Fort Worth Hotel and a second headquarters hotel that will further strengthen the walkable headquarters hotel package available to the FWCC. As Fort Worth has exploded in population and tourism growth over the past 25 years, the downtown and convention district is keeping pace with development that reflects the gusto of the broader market’s growth.
At the same time, the Stockyards and surrounding areas continue to evolve with new mixed-use development, additional hotels, and expanded visitor experiences.
Hunden Partners remains actively engaged in these efforts, providing ongoing analysis and strategic guidance to ensure that each new investment builds on the City’s strengths and supports long-term sustainability.
A Model for Destination Development
Fort Worth illustrates what is possible when thoughtful planning, market-driven analysis, and long-term partnerships come together.
From early strategy to developer selection, from feasibility studies to funding models, and from historic preservation to modern mixed-use development, our work has spanned every stage of the destination lifecycle.
As we reflect on 20 years of shaping destination real estate, Fort Worth is more than a case study. It is a testament to the value of sustained collaboration and a shared vision for growth. We are grateful for our ongoing partnership with the City of Fort Worth, Visit Fort Worth, and various private developers and teams working hand-in-hand to optimize the destination for visitors while enhancing quality of place for residents, businesses, institutions, and future investment.
