Chartwell Hospitality, a Tennessee-based development and third-party management company, is set to manage 11 properties owned by Capstone Development. The company has managed eight additional Capstone hotels for the past several years.
“Our relationship began with Capstone in 2014, when they purchased the Hampton Inn & Suites Elliston Place and Hampton Inn Vanderbilt/West End in Tennessee,” Kevin Green, COO of Chartwell Hospitality, said in a statement. Over the ensuing years, both companies sought out other opportunities to partner hotels and management agreements. “Two years later, Chartwell Hospitality sold Capstone six hotels in south Florida [which] we continue to manage.”
The 11 new properties consist primarily of Hilton and Marriott brands along with one Choice Hotel property. Currently, 19 hotels in the Chartwell Hospitality portfolio are owned by Capstone Development. Chartwell Hospitality owns, develops and manages 37 hotels across 12 states with an additional four under construction and five more scheduled to break ground in 2018. Overall, the assets owned and managed by the company total in excess of $1B.
To learn more about Chartwell, visit www.chartwellhospitality.com.