Majestic and Hickman’s Stockyards Partnership Pushes Ahead

The Fort Worth Stockyards’ development group is moving forward with a $30 million renovation of two of the district’s most recognizable properties, even as a much larger expansion plan remains in limbo.

Stockyards Heritage Development Company, a partnership between California-based Majestic Realty and Fort Worth-based Hickman Companies, said it will begin renovations of the Historic Stockyards Hotel and the adjacent H3 Ranch restaurant this spring, according to company statements. The project marks the first major development announcement in the Stockyards since turmoil last year upended leadership overseeing the district’s growth, the Dallas Business Journal reported.

The hotel and restaurant are slated to close April 6. Officials told the outlet that they could reopen as soon as late this year, though early 2027 is also on the table. The renovation will focus on kitchen and back-of-house upgrades and a refreshed dining room, a more modest scope than earlier redevelopment pitches.

Majestic and Hickman acquired the Stockyards Hotel building in 2022, including H3 Ranch and Booger Red’s Saloon. The 118-year-old hotel has 42 rooms and 10 suites and has long leaned into its outlaw-and-country-music lore. Bonnie Parker and Clyde Barrow reportedly hid out there in 1933, and the hotel’s celebrity suite has hosted Willie Nelson, George Strait and Garth Brooks.

“The decision to renovate was made with great care and respect for what these properties represent,” the partnership’s COO Kristin Assad told the outlet, framing the work as preservation with an operational upgrade.

The renovation moves ahead as broader plans for the Stockyards appear paused. In 2024, the Fort Worth City Council approved an economic development agreement with Majestic and Hickman that envisioned nearly doubling the size of the Historic Stockyards. The deal contemplated 300,000 square feet of commercial space, hotels totaling at least 500 rooms, a 295-unit multifamily project and two underground garages with 1,300 spaces by 2032.

That second phase has yet to advance. Majestic recently tapped Rick Kline to oversee the Stockyards after a public split with former development head Craig Cavileer. Kline said the partners remain committed to future development, but are taking a “balanced” and “appropriately-timed” approach to undeveloped land.

City officials said discussions with the new leadership are ongoing, but there’s no update on when the expansion might restart. Fort Worth Stockyards President Paul Paine said confidence remains high, noting the proposed buildout could top $1 billion.

Hovering over it all is a legal fight between Majestic and Cavileer playing out in Los Angeles County Superior Court, involving dueling claims tied to tens of millions of dollars in promissory notes and ownership stakes. A trial is currently scheduled for October, though legal experts said delays are likely.

— Eric Weilbacher