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Charlestowne Hotels
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Charlestowne Hotels Selected by Rockbridge to Manage Its Newest
Acquisition, the Doubletree Hotel and Suites Charleston - Historic District
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The property becomes the 40th hotel in the Charlestowne Hotels portfolio
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Charleston, SC – December 2015 / Newsmaker Alert / Rockbridge announced on Friday (December 18) the acquisition of the DoubleTree Hotel and Suites Charleston - Historic District, located at 181 Church Street, from The Holliday Companies for an undisclosed sum. Charlestowne Hotels will manage the hotel marking its fortieth hotel and the first hotel it is managing for Rockbridge. Well respected within the industry as a leader for independent, boutique hotel development and management, Charlestowne Hotels now counts six different chain flags complementing its portfolio of diverse boutique and independent hotels. The DoubleTree hotel brand joins the Curio brand to become the second Hilton brand for which Charlestowne Hotels is approved to manage.

As the 14th largest hotel owner and developer in the U.S., Rockbridge knows the Charleston market well and views this as an opportunity to add an extremely well-located property to its investment portfolio. “We intend to reinvest in the hotel to enhance the strength of its location and physical attributes. We could not be more pleased to become a part of the Charleston community. To this end, we are thrilled to be working with Charlestowne Hotels to steer us in the right direction,” says Jim Merkel, CEO of Rockbridge Holdings.

“This hotel is an irreplaceable asset,” says Michael Tall, President of Charlestowne Hotels. “The prime location in the very epicenter of Charleston’s business and historic districts, the guest rooms, which are among the largest in the city, and the on-site parking garage make this simply an extraordinary hotel. With Rockbridge’s hospitality experience and keen interest in being part of the local community, we are very excited about the future of this property.”

The hotel is prominently located adjacent to the Charleston City Market, the city’s most visited public attraction, has 212 guest rooms including 165 guest suites, over 12,000 square feet of meeting space, an underground 140-space parking garage, fitness and business centers, and a large, private courtyard. Assuming the management of a property of this scale in one of the top destinations in the US and assisting the owners with improving the asset continues a trend that has driven the growth of Charlestowne Hotels. “Rockbridge is the fourth institutional investor with whom Charlestowne is working to implement strategic improvements that generate improved returns for the owner’s investors. Charlestowne has established a reputation as not only a quality operator but a great partner for value creation through repositioning of existing assets,” says Larry Spelts, VP of Business Development for Charlestowne Hotels.
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DoubleTree Hotel and Suites Charleston - 181 Church Street - Charleston, SC
DoubleTree Hotel and Suites Charleston - 181 Church Street
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About Rockbridge
Rockbridge is an investment platform with over 20 years of experience investing in real estate and operating companies. It has made over 340 investments in 44 states in transactions worth more than $5 billion. Through its deep, in-house experience and strong relationships, Rockbridge has delivered a long track record of attractive risk-adjusted returns across multiple cycles. For additional information about Rockbridge, visit www.RockbridgeCapital.com.

About Charlestowne Hotels
Charlestowne Hotels is a leading full-service, top ranked hospitality management company with assets under management in fifteen states from the Atlantic seaboard to the Rocky Mountains. Charlestowne’s proficiency in managing a diverse portfolio of properties, including AAA Four Diamond hotels, resorts, condo hotels and branded properties, has led to numerous industry accolades including Condè Nast Magazine “Gold List,” “Top 100 Hotels in the US” by Travel + Leisure, Smith Travel Research’s “Best Performing Hotel in the US” and numerous others. For additional information, visit www.CharlestowneHotels.com.

Industry Press Contact: 
Charlestowne Hotels
Larry Spelts
VP of Business Development
843-518-1786

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Publishing Dates: 12/22/15 – 02/22/16
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