ATLANTA - -
February 28, 2013 — With the acquisition this
week of The Peabody Little Rock by an affiliate of Fairwood Capital,
Davidson
Hotels & Resorts, one of the nation’s largest independent hotel
management
companies, today announced that it has assumed management of the
418-room hotel
in downtown Little Rock, Ark. The hotel is the second
management
agreement between Fairwood and Davidson.
“The property is a vital economic engine for Little Rock
and is one of the most prominent hotels in the Mid-South. We
appreciate
Fairwood’s confidence in our ability to help maximize its potential,
and look
forward to delivering an unrivaled customer experience in this marquis
property,” said John Belden, Davidson’s president and CEO. “The
addition
of the Marriott Hotels & Resorts brand will enable us to maximize
the
economic impact the property will have on the city, the state and
within the
region. The new Little Rock Marriott will expand our overall
Marriott
portfolio to eight full-service assets with over 2,500 rooms.”
“Davidson has done an outstanding job managing the
Hilton Knoxville” said Ed Ansbro, executive vice president of Fairwood
Capital. “We have every confidence that Davidson’s
management
expertise, coupled with an upcoming renovation and rebranding, will
help this
hotel retain its position at the very pinnacle of the market.”
The hotel will convert to a Marriott Hotel in Q2,
2013. Davidson will undertake a multi-million dollar
renovation of
all guest rooms and public spaces starting in Q4, 2013. The
property
boasts 418 guest rooms, 40,000 square feet of meeting and ballroom
space, a
restaurant, lounge and lobby bar.
“This hotel already serves the city’s needs for upper
upscale hotel rooms, and upon completion of the renovation, there will
be
nothing in the market that compares,” said Steve Margol, chief
investment
officer of Davidson. “Adding Marriott’s global reach and
marketing heft
to a prestige property further assures its bright future.”
Conveniently
located in the heart of Little Rock’s downtown River Market district,
the hotel
is connected to the Statehouse Convention Center and is just minutes
away from
the William J. Clinton Presidential Library, the Verizon Arena,
Statehouse
Museum, local performing arts centers and Little Rock International
Airport.
About Fairwood Capital
Fairwood Capital, LLC is a real estate investment firm focused on the
acquisition, recapitalization, and repositioning of hospitality-related
real
estate and operating platforms. The company is backed by
established
institutional capital and pursues a value-oriented investment strategy.
About
Marriott Hotels & Resort
Marriott Hotels &
Resorts continues to inspire and provide a balanced life on the road
for
discerning and high-achieving business and leisure travelers, offering
warm,
professional service; sophisticated yet functional guest room design;
lobby
spaces that facilitate working, dining and socializing; restaurants and
bars
serving international cuisine prepared simply and from the freshest
ingredients; meeting and event spaces and services that are gold
standard; and
expansive, 24-hour fitness facilities. All Marriott hotels participate
in the
award winning Marriott Rewards guest loyalty program that allows
members to
earn hotel points or airline miles for every dollar spent during stays.
Join us
on Marriott Hotels & Resorts rapidly growing Facebook community (www.facebook.com/marriott)
and
follow us on Twitter (twitter.com/marriott). For more
information, visit www.MarriottHotels.com.
About Davidson
Davidson Hotels &
Resorts 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
has
amassed one of the purest full-service hotel portfolios in the
industry,
ranging from the upper-upscale to near-luxury segments; encompassing 46
upscale, full-service independent and branded hotels with over 13,000
rooms
across the United States, including such affiliations as Marriott,
Renaissance,
Hyatt, Hyatt Regency, Hilton, DoubleTree by Hilton, Embassy Suites,
Sheraton,
Westin, Hilton Garden Inn, Courtyard by Marriott, and Radisson.
Additional information on Davidson may be found at the company’s Web
site, www.davidsonhotels.com.