1754 Properties LLC, an institutional hotel ownership, asset management, development and lending firm, has acquired the Marriott Winston‑Salem, a 319-room full-service property located in downtown Winston‑Salem, NC, for an undisclosed amount. Hospitality Ventures Management Group The hotel will be operated by (HVMG).
Joe Smith is the managing partner of 1754 Properties. “Winston-Salem has a diverse, dynamic, and growing population that benefits from strong demand and a growing number visitors,” he said. We are looking forward to working with the community to help cement Winston-Salem’s position as the destination of choice in the Southeast for travelers seeking a unique experience and a memorable stay.
The hotel is near several universities, including Wake Forest University and the University of North Carolina, as well as the Innovation Quarter, 200-plus office buildings and corporate headquarters such as Reynolds American Inc., Hanes, AON, BB&T, Pepsi, Krispy Kreme and Jet Zero. A climate-controlled walkway connects the pet-friendly hotel to the Benton Convention Center.
The hotel offers more than 14,000 square feet of meeting space, a 24/7 fitness center, a swimming pool indoors and à la carte dining at Butcher & Bull. ft. of meeting space, an indoor swimming pool, a 24/7 fitness center, Butcher & Bull restaurant and digital check-in.
1754 Properties is planning to invest $5 million into the hotel for the upgrade of the meeting spaces, hallways and infrastructure.
“We have been interested in the North Carolina market for some time, and the Marriott Winston-Salem was the perfect opportunity to acquire a well-performing asset in an impossible-to-replicate location that has very positive economic trends and a vibrant city,” said Marcos Casillas, managing director, 1754 Properties. “Following the completion of the impending renovation, the hotel will regain ‘like-new’ status, making it the ideal choice for business and leisure travelers to the area.”
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