St. Louis, MO (PRWEB) October 13, 2012
Equis Hospitality Management of St. Louis, and its equity partner RockBridge Capital, announced today that they have acquired the former Daniele Hotel at 216 North Meramec in Clayton, MO., in suburban St. Louis. The property was purchased from River Landing LLC for $2.5 million. Equis and RockBridge plan to invest $13.5 million in the property and reopen it as The Hampton Inn & Suites-Clayton in early 2014.
The property, which has been unoccupied since 2007, will get a major facelift, a new 5th story, a new indoor pool, new restaurant and bar with outdoor seating, as well as the latest Hampton Inn room designs and amenities. In total, there will be 106 rooms, including 25 suites.
Construction will begin in March, 2013, and employ approximately 100 people in the redevelopment phase. Upon reopening, the hotel will support at least 30 full-time jobs.
“We are very excited to make this project a reality” said Equis CEO and President Michael Mullenix. “This is an important development for the North Meramec area, bringing a new suites product to business travelers in the Clayton Business District.”
“The hotel development business has been tough the last few years,” said Mullenix. “However, this project is a great example of the exciting things we have on the horizon. The Daniele is perfect for renovation and features its own underground parking, which would be virtually unaffordable in new construction. We believe the Hampton Inn & Suites brand and business travelers will be a boon to the market”
Equis Hospitality Management is an experienced hotel management company that has successfully developed, constructed and operated hotels throughout the country. In the past 15 years, the partners of Equis have collaborated with allied companies to develop and operate more than 15 hotel properties. Visit http://www.equishospitality.com
RockBridge Capital is an integrated hotel investment firm that has executed on over 300 debt and equity hotel investments in the U.S. over the past two decades.
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