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Built: 1970
Acquired: 2004 (contributed in conjunction with Initial Public Offering)
Renovated: 1988/1998/2000/2008
Rooms: 272
Meeting Space: 20,000 SF
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Opportunity:
- Emerging East Coast market with fast growth
- Largest convention hotel in Coastal North Carolina
- High barriers to entry in historic downtown, waterfront location
Value Added by MDH:
- $10.0 million PIP renovation completed in 2008 included: new front entrance, lobby reconfiguration and renovation, new “Currents Cafe” lobby coffee bar, new “Innovations Bistro” full-service hotel restaurant, new 900 SF fitness center, complete renovation of guest rooms, baths and corridors.
- Constructed and leased upscale Ruth’s Chris Steakhouse in former hotel restaurant space.
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