Hotel Equities and Hotel Development Partners to Develop a Hampton Inn & Suites in Dunwoody, Georgia
August 5, 2013 10:54am
The location is approximately 12 miles from downtown Atlanta and 22 miles north of Hartsfield-Jackson International Airport. It stands within one mile of more than 22 million square feet of office space, over 2 million square feet of retail space and three major hospitals. Plans for the mixed use project include two restaurants, retail space and a financial institution on four out parcels fronting Ashford Dunwoody Road.
Hotel Equities will manage the hotel with opening projected for the fourth quarter of 2014.
HDP is designing an enhanced version of the typical Hampton Inn & Suites building featuring finishes and construction that are above the standard required by the Hilton brand.
Fred Cerrone, President and CEO of Hotel Equities, joined with Allen O'Brien and Steven Smith, both of IRE Capital, as principals of HDP. The JV partnership firm made its first acquisition in November 2012 with the purchase of the 102-room Fairfield Inn & Suites Charleston Airport, located on I-26 in North Charleston, South Carolina. Since being acquired, this hotel increased its net income by 18%.
"We are delighted to expand our presence in Atlanta's Perimeter Center market with the popular and successful Hampton Inn and Suites brand," said Mr. Cerrone. "The hotel site is ideally located in the heart of one of Atlanta's busiest and most successful business and retail hubs. As a 30-year resident of Dunwoody, I have passed by this site on numerous occasions and have often thought how under-served it was. It helps that the project is located very close to our corporate headquarters."
Tags: hotel equities,
hotel development partners,
hampton inn & suites,
Contact: Margaret M. Jones, Dir. of Public Relations
Contact: Brad Rahinsky, Senior Vice President
678.578.4444, x 22
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