Fifth Avenue Capital and Waterford Hotel Group Partnership Purchases DoubleTree Little Rock
January 16, 2015 7:34am
Waterford, CT (January 16, 2015) --- FAC-W Markham, LLC, a partnership of affiliates of Fifth Avenue Capital and Waterford Hotel Group, has finalized the purchase of the 288-room DoubleTree by Hilton in Little Rock, Arkansas. Fifth Avenue Capital is a New York City based private equity investment firm that is led by the principals of Pearson Partners, Inc. Waterford Hotel Group, a Connecticut based company with nearly 30 years of experience operating hotels and convention centers nationwide, has assumed management of the DoubleTree Little Rock.
The hotel is the first acquisition for the venture and marks Fifth Avenue Capital’s first hotel investment. David Pearson, a principal of Fifth Avenue Capital shared, “While we have historically invested in retail and office properties, we have been seeking quality value-add hotel investments with a strong operating partner. In the Little Rock DoubleTree and the Waterford Hotel Group, we have found both.”
The DoubleTree by Hilton in historic downtown Little Rock is located just off I-30 in the heart of Arkansas’ capital city. The hotel features 288 rooms, the Plaza Grille and Bar, flexible banquet, catering, and meeting space, a business center, and an outdoor swimming pool. DoubleTree Little Rock is connected to Arkansas’ Premier Performing Arts Venue, the Robinson Center, which is currently closed for a multi-million dollar renovation and scheduled to reopen in Fall 2016. The hotel is conveniently located only minutes from the Bill and Hillary Clinton National Airport and in close proximity to the leading Little Rock attractions, such as the Statehouse Convention Center, William Jefferson Clinton Presidential Library, Verizon Arena, Little Rock’s Government and State Offices, the shopping district, and much more.
The new ownership has also announced that plans are currently underway for a more than $5 million renovation of the DoubleTree Little Rock. “The DoubleTree enjoys a prime location in the heart of historic Little Rock. We are busy planning for an extensive renovation with a focus on enhancing guest experience for those visiting the downtown area for business or leisure travel, as well as for the local community visiting the many area attractions,” said Rob Winchester, President and COO of Waterford Hotel Group.
Tags: waterford hotel group,
fifth avenue capital,
doubletree little rock,
Waterford Hotel Group is one of the nation's leading hotel and convention center management companies. The company operates 28 properties in 8 states, representing nearly 3,700 total rooms and 700,000 square feet of meeting and convention space. The collective expertise of the team and track record of success has earned Waterford distinction as an approved operator for the leading hotel brands. Whether the involvement begins at conception or during operation, Waterford Hotel Group strives for successful performance and profitability of each managed property, while maintaining the highest standards of quality, service, and cleanliness. For more information, visit www.waterfordhotelgroup.com.
Contact: Lisa Beers
Waterford Hotel Group Appoints Nicole Mclean as General Manager of Fairfield Inn & Suites by Marriott New York Brooklyn
Waterford Hotel Group Appoints Jenny Mazzurco as New Director of Sales at Fairfield Inn & Suites Boca Raton
Expotel Hospitality to Open and Manage Historic 118 Room Hotel Indigo in Memphis, Tennessee
Meyer Jabara Hotels to Operate Cambria South Boston
Hilton Hartford Hotel Appoints Shane Arnold as New Executive Chef
Waterford Hotel Group Appoints Jaime O'Connor New Director of Sales at Sheraton Bradley Hotel
Waterford Hotel Group Promotes Jhenny Pierre to General Manager of Courtyard by Marriott Warwick
Waterford Hotel Group Appoints Dave Mattesen General Manager and Candy Iannucci-Guay Director of Sales of Hyatt House Windsor
Mediocre Managers Are All Over in Hospitality
OTO Development Makes Inc. 5000 List – for the 6th Time
Yes -- Service is Selling, Too!
Strand Hospitality Services Assumes Management of the SpringHill Suites Atlanta Six Flags
Waterford Hotel Group Appoints Tomas Tolentino General Manager of Fairfield Inn & Suites in Hyannis, Massachusetts
Scarlett Hotel Group Takes Over Management of Marriott Residence Inn in Downtown Clearwater
SMS Lodging Assumes Management of Hotel Astor in Miami
Accubase Introduces Core Services for the Hospitality Industry
Wyndham and Zeus International Enter Strategic Development Partnership for 20 New Hotels
Teneo Hospitality Group Launches Nationwide Meeting Planner and Hotelier Networking & Charity Events, Assisting Homeless in 14 Cities
ProfitSword Partners with Formula 4 Racing Team
Hospitality Management Chantilly and Hyatt Enter Agreement for Management of New Hyatt Regency Chantilly
Please login or register to post a comment.