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Doubletree by Hilton Raleigh Downtown Brownstone NCSU
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Built: 1971
Acquired: 2004
(contributed in conjunction with Initial Public Offering)
Renovated: 2002/2011
Rooms: 190
Meeting Space: 15,000 SF
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Opportunity:
Steady market with state government and state university as primary drivers
Prime location next to NC State campus
Solid structure with opportunity for physical improvement and upbranding
Value Added by MDH:
$4.6 million PIP renovation and conversion to Doubletree by Hilton brand completed in December 2011. Improvements included: full guest room renovation, lobby and entry reconfiguration, new restaurant and lounge outlets, exterior façade redesign
Doubletree by Hilton franchise agreement through 2021
Mature and strong relationship with community and core business drivers