Winston-Salem, N.C.
Hospitality Ventures Management Group (HVMG) announced it acquired two downtown Winston-Salem, North Carolina hotels, both adjacent to the Benton Convention Center which is currently under an $18 million renovation: the 315-room Marriott and the 146-room Embassy Suites.
The company says it will invest significant capital to dramatically enhance the product of both hotels.
“North Carolina continues to be one of the more attractive hotel marketplaces in the U.S., with domestic travelers spending more than $20 billion across the state according to the latest available data,” said Robert S. Cole, HVMG president and CEO. “While the Marriott and Embassy Suites mark our entry into Winston-Salem, they also are our fifth and sixth North Carolina properties, adding greater depth to our state and regional market insights and providing economies of scale we can leverage immediately.”
“We are working a very active acquisitions and development pipeline, with these two properties becoming the fifth and sixth hotels added to our portfolio over the last seven weeks,” Cole added. “2016 is shaping up to be one of HVMG’s most successful growth years in its history.
Located in the downtown area at 425 North Cherry Street, the full-service hotel is part of the Twin City Quarter and connected to the 100,000-square-foot Benton Convention Center.
Nearby attractions include the Piedmont Triad Research Park, City Hall, Downtown Arts District (DADA), Fourth Street’s restaurant row, Old Salem and the LJVM (Joel) Coliseum.
The guest rooms are amenity-rich and include the new Marriott Revive Beds with 300-count linens, fluffier pillows and down comforters, as well as a 37” flat panel televisions. Dining options include the Graze Restaurant and Lounge, offering seasonal and sharable American breakfast, lunch and dinner options, as well as room service and two private dining rooms.
The property offers 15,067 square feet of event space and 14 event rooms with a maximum capacity of 600 people. Other amenities include free Wi-Fi, 24-hour business and fitness centers and indoor pool.
Strategically located at 460 North Cherry Street, 10 minutes from Smith-Reynolds Airport and 20 minutes from Piedmont Triad International Airport, the Twin City Quarter property is connected to the Benton Convention Center. Nearby attractions include the Winston-Salem arts district, Delta Arts Center, Piedmont Craftsmen Gallery, Reynolda House Museum of American Art and Old Salem.
The hotel is made up of spacious suites with private bedroom, separate living room with a sofa bed, armchair, work desk, wet bar, refrigerator, microwave, coffeemaker, flat-screen TV and free Wi-Fi.
Dining options include the Grille Restaurant and Bar and complimentary, made-to-order breakfast, as well as free drinks and snacks at the evening reception. The hotel offers more than 57,000 square feet. of event space, including an eight-story atrium that accommodates 600 people, the Gaines Ballroom for weddings and the Grand Pavilion Ballroom for banquets, allowing for 1,200 people. Other amenities include the Glass Door Salon & Spa, a 24-hour fitness center and an indoor pool.
Hospitality Ventures Management Group currently operates 35 hotels in 16 states totaling 7,572 guest rooms. HVMG operates independent and boutique hotels, and resorts, as well as full-service, select service and extended stay hotels under the Hilton, Marriott, Hyatt, Starwood and IHG brands.