The former Red Lion Houston Galleria offered a significant opportunity to renovate and reposition a hotel to increase value dramatically. The physical appearance versus competitors and management turnover had severely impacted the property’s ability to compete. The guestrooms and corridors were last upgraded in 1993. Amerimar saw this opportunity to renovate and reposition the hotel into a leader in the Galleria market.

The Hotel Derek opened in the fall of 2001, after which it was named by Conde Naste as one of the best new hotels in the world. With its crisp, tailored look, custom design furnishings and original artwork, the Hotel Derek has earned a reputation as Houston's premier boutique hotel. The Hotel Derek is a member of Preferred Hotels & Resorts Worldwide.

Hotel Derek was sold in 2007 for a significant profit.