Wright Investment Properties purchases Marriott Courtyard Vanderbilt – West End Nashville, TN
Cordova, TN, June 2004 – Wright Investment Properties, Inc. has purchased the Marriott Courtyard Vanderbilt in Nashville, Tennessee located in the upscale West End area for $18,400,00. The 223 room Marriott Courtyard consists of an original 136 room, seven story guestroom tower completed in 1995 and an eight story, 87 room addition and parking garage completed in 1999. Hospitality Management Advisors, Inc. will manage the property.
The hotel will be renovated with upscale corporate and leisure traveler in mind and according to Marriott Courtyard specifications. The main focus of the renovation will be the lobby and restaurant area along with public space. The renovation cost will be approximately $2,700,000. The restaurant and lobby will be completely re-configured to improve guest access and improved seating and décor.
Two new concepts will be introduced that are now standard features for most Courtyard properties. The Express Market area will be available to guests 24 hours a day and will contain snacks, sandwiches and beverages for self-service purchase. The Library area will contain a work area with high-speed Internet service, computer printer and credit card phones. The 87-room addition will receive a décor upgrade in all rooms and corridors. Additional improvements to the exterior include upgrades to the pool and to the building that will incr4ease the curb appeal. Guest access to the parking garage will also be improved. The renovation should be completed during the fourth quarter of 2004.
Wright Investment Properties is a leading privately held national hotel development company that is consistently recognized as one of the top 35 hotel management companies in the United States by Hotel Business Magazine . Wright's development focus is on primary and secondary markets. For more information on the company visit their website at www.wrightinvestments.com.
Hospitality Management Advisors, Inc is one of the premier hotel management companies in the United States. The company works with private ownership groups as well as some of the largest public REIT's in the United States and has a proven long-standing reputation for performance-driven results through excellent operating and asset management standards. Hospitality Management Advisors operates hotels in nine states with a wide range of franchises including Marriott, Hilton, Carlson Hotels, Intercontinental Hotels Group, Choice, and Wyndham Hospitality. Hospitality Management Advisors is headquartered in Cordova, TN, a suburb of Memphis. For more information about Hospitality Management Advisors, visit the company's website at www.wrightinvestments.com. |
