Lowe Enterprises Investors (LEI) has acquired the Hotel Derek in Houston. The firm will invest at least $4.5 million to renovate public spaces, guestrooms, and meeting facilities. The property features 314 loft-like guestrooms, including 10 suites and 16 business studio rooms, along with a business center, fitness facilities, an outdoor pool, Valentino Restaurant and Vin Bar, and 10,000 square feet of meeting space. Destination Hotels & Resorts has taken over hotel management.