Rockbridge Acquires Marriott Crabtree Valley
Friday October 18th, 2013 - 2:37PM EHOG
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RALEIGH, NC—Rockbridge Partners, a division of Rockbridge, has acquired the Raleigh Marriott Crabtree Valley, a 375-room, full-service hotel located here.
The full-service, six-story Marriott will undergo an extensive $23-million renovation, including complete guestroom and guest bath upgrades, the addition of a 10,000-sq.-ft. ballroom and reconfiguration of the existing lobby and restaurant space to install the new Marriott Great Room lobby concept. Design enhancements will include the re-orientation of the guest entryway and activation of the outdoor space with a new patio terrace and pool.
The hotel sits directly across from the Crabtree Valley Mall and is also in close proximity to regional demand generators such as North Carolina State University, Raleigh-Durham International Airport and Research Triangle Park.
Concord Hospitality will manage the property.
Tags: Rockbridge Partners • Concord Hospitality • Marriott • Marriott Crabtree Valley • Raleigh • NC • North Carolina • Hospitality • Acquisitions • Construction/Renovation • Ownership • Management Companies •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.