Atlanta's Residence Inn-Midtown Purchased / Dec 1997

Hotel Online Press Releases

Atlanta's Residence Inn-Midtown Purchased
December 15, 1997 - Centre Properties Inc., a hotel development company based in Atlanta, announced the purchase of the 66-suite Residence Inn-Midtown located at 1041 West Peachtree St. in Atlanta. The Residence Inn is currently undergoing a substantial renovation and will remain open throughout the process. The hotel will be reconfigured to accommodate an additional 12 suites, while maintaining its Residence Inn by Marriott flag.

Centre Properties purchased the property in joint venture with Concord Hospitality Enterprises, a Cleveland, OH-based hotel owner and manager. Centre Properties is an affiliate of the Atlanta-based John Hardy Group, which specializes in the development, construction and renovation of hotels. The John Hardy Group's client list includes Aetna, Bedrock, Bristol, Prudential, Wyndham, Host Marriott, Starwood Lodging and currently has two offices located in Atlanta and Denver. The purchase of the Residence Inn is the first acquisition for Centre Properties, which is currently negotiating several other deals.

Information on Centre Properties can be obtained by contacting Jack Misiura, Director of Development at (404) 705-9191.

Information on The John Hardy Group can be obtained by contacting Ralph Engelberger, Director of Project Development Services at (404) 256-8800.

------------------------------------------------------------------------------------ Contact: Temba Msezane The John Hardy Group/Centre Properties 5180 Roswell Rd. Atlanta, GA 30342 Phone: (404) 256-8800 Fax: (404) 256-8810 E-mail: [email protected] URL: www.jhgi.com