Hotel Development Partners Snags Site for Hampton Inn
Wednesday September 3rd, 2014 - 9:37AM HOEBQG
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ATLANTA—Hotel Development Partners (HDP) acquired a site on Ashford Dunwoody Road near Perimeter Mall for the development of the 132-room Hampton Inn & Suites, which will be the latest urban prototype for this Hilton hotel brand, and will be part of a mixed-use development.
The reuse of the 3.6-acre former parking field at the Sterling Pointe office complex will create an urban setting for the hotel and 25,600 sq. ft. of restaurants and retail.
Hotel Equities will manage the Hampton Inn & Suites Dunwoody/Perimeter Center. The project’s initial construction phase will begin immediately.
“We will deliver a dominant hotel brand and highly marketable outparcels to Atlanta’s most active market,” stated Allen O’Brien, CEO of Hotel Development Partners, LLC.
“We are thrilled to move forward on the Sterling Pointe project, adjacent to our Hotel Equities’ corporate headquarters,” said Fred Cerrone, chairman/CEO of Hotel Equities and COO of HDP. “We expect many more exciting opportunities through the HDP strategic partnership in the near future.”
Hotel Development Partners, LLC is an Atlanta-based joint venture formed by Hotel Equities and IRE Capital for the purpose of acquiring and developing premier-branded, select-service hotels. HDP Investment Fund I, LLC is the investment vehicle that allows private investors to participate in institutional-quality hospitality properties. Principals of HDP are Frederick W. Cerrone, Allen T. O'Brien and Bob McCarthy.
HDP also owns the 102-room Fairfield Inn & Suites, Charleston, SC, and the 175-room Residence Inn, Surfside (Miami Beach), which will open next July.
Tags: Hotel Development Partners • Hampton Inn & Suites • Fred Cerrone • HDP • Hotel Equities • Hospitality • Brands • Acquisitions • Construction/Renovation • Ownership • Management Companies • Owners/Operators •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.