Pyramid Hotel Group and Lone Star Funds Completes an Estimated $70 Million Worth of Renovations at Seven Marriott Hotels
November 2, 2017 11:32am
DALLAS, TEXAS, (November 2, 2017) – Global private equity firm Lone Star Funds along with Pyramid Hotel Group today announced the completion of its year-long, approximately $70 million Marriott Hotels redesign project that included seven full service Marriott hotels that are managed by Pyramid Hotel Group.
The extensive transformations at each of the seven hotels include the guest rooms, Greatroom, M Club Lounge, lobby, and fitness and recreation amenities. The hotels were reimagined to create a modern and premium experience that inspires creativity and innovation.
“We are excited to reveal the extensive renovations that were recently completed at our seven Marriott Hotels nationally,” said Hugh J. Ward III, Senior Managing Director at Lone Star North America Acquisitions, LLC. “We are pleased with the transformation of these properties and believe the latest Marriott Modern design, including the addition of M Club, exciting restaurants and completely redesigned rooms, will appeal to the evolving tastes of our customers. The positive feedback from our guests reaffirms our decision to improve these hotels, and we are deeply appreciative of the dedicated work from the Lone Star team and Pyramid Hotel Group, our joint venture partner and manager, which made this modernization such a success.”
The renovated Marriott Hotels include:
Guestroom redesigns at each property include updated furniture, bedding, and carpeting, a 50-inch smart TV that allow guests access to their own streaming channels, including Netflix, Hulu, Crackle, Pandora, YouTube and TED/Marriott, and new refrigerators and safes. Bathrooms in the rooms were also upgraded with spa-like fixtures.
“Marriott Hotels has consistently pushed the boundaries of innovation in travel to create experiences that inspire and push our guests’ creativity,” said Kip Vreeland, Senior Vice President, Full Service Franchising, Marriott International. “Our partners at Lone Star and Pyramid have accomplished this and more and we know their guests across the country will be thrilled.”
Other upgrades at the hotels include new guest check-in areas that feature a unique, eye-catching chandelier and a Greatroom with seating options to accommodate groups of all sizes, designed with the intention of being a place to unwind, enjoy live entertainment, and dine. The heated indoor pool areas were also refurbished to include new lounge furniture and décor, and the fitness centers were upgraded with state-of-the-art equipment by Life Fitness. Additionally, executive boardrooms and meeting spaces were updated and now feature extra-comfortable seating, state-of-the-art technology, audio-visual capabilities, and high-speed wired/wireless internet.
The M Club Lounge for Gold and Platinum Elite Marriott Rewards members was relocated to the first floor of each hotel features perks including a range of complimentary food and beverage options featuring hot breakfast, evening drinks and hors d’oervres and premium beverages throughout the day. Accessible 24 hours a day, seven days a week, the M Club Lounge also offers free wi-fi, printing and power supplies to ensure uninterrupted productivity for business travelers. Non-reward members now have the opportunity to upgrade their hotel room package to include the M Club benefits.
Each hotel also added a new, locally-inspired restaurant uniquely named to reflect the culture and history of its location. Each restaurant features a distinctive interior design to go along with the overall theme. The chef-created menus for each restaurant feature locally-sourced items that provide guests with a taste of the region they are visiting.
The new restaurants for each Marriott location include:
The project, which began in 2016, involved an estimated $70 million investment. For more information about specific Marriott properties, visit www.marriott.com.
Tags: lone star funds,
pyramid hotel group,
Lone Star Funds is a global private equity firm that invests in real estate, equity, credit and other financial assets. Since the establishment of its first fund in 1995, Lone Star has organized seventeen private equity funds with aggregate capital commitments totaling over $70 billion.
Contact: Erica Pyznar
Pyramid Hotel Group is a privately held, Boston-based hotel company with over 100 hotels and resorts under hotel management and asset management, comprising more than 22,000-plus rooms and over 10,000 employees. Pyramid Hotel Group, ranked among the largest U.S. hotel management companies by independent sources, provides hotel management, asset management and project management services to a broad array of hotel assets ranging from a 90-room select-service hotel to world-class properties with more than 1,000 rooms. Pyramid Hotel Group is a franchisee of all major hotel brand companies and an operator of independent four- and five-star hotels and resorts. Additional information is available at www.pyramidhotelgroup.com
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