Acquisition, the Doubletree Hotel and Suites Charleston - Historic District | The property becomes the 40th hotel in the Charlestowne Hotels portfolio | 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.
DoubleTree Hotel and Suites Charleston - 181 Church Street 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
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