BIRMINGHAM, AL, Jan. 19, 2012—RockBridge announced a preferred equity investment to recapitalize and reposition the 329-room, full-service Wynfrey Hotel (top left photo) in Birmingham, Ala. (the “Wynfrey” or the “Hotel”).
The Hotel will undergo a comprehensive multi-million dollar renovation, after which it will be reflagged as The Hyatt Regency Birmingham - The Wynfrey Hotel.
The developer of the hotel and the adjoining Riverchase Galleria and Galleria Tower, Jim Wilson & Associates, LLC, retains an ownership interest in the project.
Davidson Hotels & Resorts has managed the landmark property since 2009 and facilitated the transaction and branding on behalf of ownership. James T. Merkel, (middle left photo) president and CEO of RockBridge, made the announcement.
The renovation will commence in the fall of 2012 and be completed by March 2013. The Hotel will receive substantial upgrades including an enhanced exterior facade, renovation of all public areas, fitness center, outdoor swimming pool and meeting space. The guest rooms will be fully refurbished with upgraded bedding and a comprehensive soft and case goods package.
“We fully expect the strength of the Hyatt brand and the multi-million dollar renovation to cement this property’s leadership position as one of the region’s top destinations for area business and leisure travelers,” said Patrick Lupsha (top right photo), Davidson’s chief operating officer. “We plan to aggressively market the new Hyatt Regency as Birmingham’s leading upper upscale property.”
The Hotel is conveniently located immediately off of I-459 and Highway 31 and is attached to the Riverchase Galleria, (lower right photo) the largest enclosed mall in Alabama, with more than 1.5 million square feet of retail space.
The Chancellor’s Club level lodging, accessible only with a private key, offers two floors of deluxe accommodations with exclusive in-room amenities, complimentary continental breakfast and evening reception. Additional hotel amenities include high-speed Internet access, fitness center, business center, 32,000 square feet of meeting space, and multiple dining options, including Shula’s Steak House.
“Consistent with our proven investment strategy, this preferred equity investment represents an opportunity to reposition, renovate, and rebrand a quality asset at an attractive basis with considerable upside potential,” said Mr. Merkel.
For additional information, please visit www.davidsonhotels.com, www.jwamalls.com and www.rockbridgecapital.com.
Contact:
Paul Kesman
RockBridge
(248) 321-2035
Chris Daly
President
Daly Gray, Inc.
Ph: 703-435-6293
Cell: 703-864-5553
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