ANN ARBOR, May 11, 2011 —
RockBridge Partners, an
affiliate of RockBridge Capital, LLC (RockBridge), an investment firm
focused
on the hospitality industry, announced that it has completed an $8.5
million
renovation of the 197-room Ann Arbor Four Points by Sheraton and
unveiled the
new Sheraton Ann Arbor Hotel at a ribbon cutting event. Davidson
Hotel
Company, one of the nation’s largest independent hotel management
companies,
manages the property for RockBridge, and will operate it under a
franchise
license agreement with Sheraton. The hotel is located at 3200
Boardwalk,
Ann Arbor, MI, near the University of Michigan.
“This hotel boasts a prime physical location off I-94,
serving a strong local corporate community, as well as the academic and
athletic departments within the University of Michigan. The
market was
underserved from a quality standpoint, and the newly launched Sheraton
will set
a new standard of hospitality in Ann Arbor,” said John Belden,
president and
CEO of Davidson. “This becomes the 10th university-related
property
in our portfolio, and we now have the only Starwood product within 25
miles.”
The
renovation of the 197 guest rooms focused on physical comfort and
modern
amenities. Dark wood furnishings, plush chairs, refrigerator,
microwave
and coffee maker, as well as the Sheraton’s signature Sweet Sleeper
beds, give guests the comforts of home, while 37” flat screen
televisions,
high-speed internet and a contemporary feel to the décor, bring
the rooms up to
a quality level unmatched in the market. The hotel also
features
the largest fitness center in the market, an indoor swimming pool,
whirlpool,
15,000 square feet of flexible meeting space, including the largest
ballroom in
Ann Arbor that can accommodate up to 600, and a full service
restaurant.
The restaurant will offer some 40 wines by the glass and a seasonal
menu,
featuring locally-sourced, sustainable ingredients whenever possible.
The
Sheraton Ann Arbor Hotel’s new lobby invites lingering with wide open
spaces, a
warm palette, and the brand’s Link@Sheraton features, including free
WIFI,
Ethernet data ports, internet work stations, printing services,
periodicals,
and a communal lounge serving light food and drinks.
“We’re confident that with the
improvements that were made to the rooms, lobby and guest technology
offerings,
this property will quickly become a market leader in Ann Arbor,” said
James
Merkel, President and CEO of RockBridge. “The lobby changes, in
particular, are in tune with the desires of today’s travelers who want
a
comfortable place to interact while staying connected.”
About
RockBridge
RockBridge Partners was formed as the equity platform of
RockBridge Capital, LLC. RockBridge provides capital to the hospitality
industry through its Hospitality Funds and focuses on both debt and
equity
investments. The principals of RockBridge have formed and managed eight
investment funds totaling nearly $1 billion, across multiple platforms
with
both institutional and private investors. Focused on creating value for
their
hotel operating partners, RockBridge invests first mortgage, mezzanine,
and
equity capital in hotels throughout the U.S. Since 1992, RockBridge has
invested in over 300 assets nationwide with aggregate transaction
capitalization of nearly $5 billion. For additional information about
RockBridge,
visit www.rockbridgecapital.com
.
About Davidson Hotel Company
Headquartered
in Memphis, Tenn., Davidson Hotel Company is an award-winning,
full-service
hotel management company that provides management,
development/renovation,
acquisition, consulting and accounting expertise for the hospitality
industry. The company’s portfolio encompasses 47 upscale,
full-service
independent and branded hotels with more than 13,300 rooms across the
United
States, including such affiliations as Hilton, Embassy Suites,
Doubletree,
Hilton Garden Inn, Marriott, Courtyard, Renaissance, Westin, Sheraton,
Hyatt,
Radisson, Crowne Plaza, and Holiday Inn. Additional information
on
Davidson may be found at www.davidsonhotels.com.