Article is down a few posts
Edited by Justin6882, 11 April 2005 - 02:44 PM.
Raleigh: Hilton may be in the works for GloSo
Started by
Justin6882
, Apr 10 2005 08:19 AM
5 replies to this topic
#1
Justin6882
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Hamlet
Posted 10 April 2005 - 08:19 AM
There is an article in the new Triangle business journal this week about Winston Hotels wanting in on the action in downtown Raleigh. Nothing official has been announced yet, but they are talking about putting a Hilton in the Glenwood South district at the corner of Tucker and Boylan Ave. (Currently the vacant Raleigh office supply buidling). This is excellent news, if it goes through, for downtown Raleigh. We are in desperate need for more hotels. Now if we could get some announcements about some new ones around the South end of downtown near the convention center, that would be even better.
Article is down a few posts
Article is down a few posts
#2
Rufus
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Whistle-Stop
Posted 10 April 2005 - 12:22 PM
Great news Justin6882! If there is anything Raleigh needs more to go with the new conv. center, it's more hotels in downtown. Keep us posted.
#3
ericurbanite
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Whistle-Stop
Posted 10 April 2005 - 04:16 PM
sounds great, do you have a link for this article Justin?? I tried searching but no luck.
"When they get the story up online, I'll post a link."
Nevermind I answered my own question. LOL!
"When they get the story up online, I'll post a link."
Nevermind I answered my own question. LOL!
Edited by ericurbanite, 10 April 2005 - 04:18 PM.
#4
uptownliving
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Town
Posted 10 April 2005 - 08:33 PM
Downtown Raleigh needs all the hotels it can get. I am a little surprised they would not build closer to the convention center.
#5
Tayfromcarolina
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Hamlet
Posted 11 April 2005 - 08:51 AM
I heard last week on the news that the city wants another hotel on the corner of lenoir and salisbury. Adjacent to the new convention center.
#6
Justin6882
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Hamlet
Posted 11 April 2005 - 12:20 PM
Here is the article:
Winston eyes Glenwood inn
By Amanda Jones
Raleigh- Winston Hotels is negotiating a deal that would add a hotel, likely flying a Hilton flag, to downtown Raleigh's Glenwood South district.
The Raleigh hotel company is in talks with the owner of the vacant Raleigh Office Supply building at the corner of Tucker and Boylan streets for a land lease deal, say sources. A 51,000-square foot building would be torn down to make way for a multi-level hotel.
Winston had been in talks with the owners of the Warren Distributing building on Glenwood Avenue before a joint venture between Trammell Crow Residential and Blue Ridge Realty put the property under contract. The partnership plans to build a mixed-use property with condominiums, retail and office space.
Ken Crockett, chief operating officer for Winston Hotels, would not confirm nor deny Winston is in talks about the Raleigh Office Supply building, but he says the company is interested in downtown Raleigh. "We have several projects in the pipeline around the country, but I don't want to announce anything until I know it's done," says Crockett. Winston Hotels Chief Executive Officer Bob Winston was out of town and unavailable for comment.
It's not he first time Winston has shown an interest in downtown Raleigh. The company was one of the initial bidders that considered developing a hotel adjacent to a new convention center, but the firm pulled out of hte talks, claiming it would need additional incentives from the city to make the project work economically. Stormont-Noble Development of Atlanta was selected to build a 400-room Marriott hotel.
Winston also is in negotiations to build a Hilton Garden Inn at the new Mayfaire mixed-use development near Wrightsville Beach. The Winston family also owns property near Raleigh's RBC Center, where a hotel is planned.
Over the past 18 months, Winston Hotels has focused on putting its capital to work by providing mezzanine financing for other hotel developers or in acquiring properties to be converted into higher-end inns.
Developing new hotels has not been high on the company's priority list, but that appears to be changing.
The shift may be linked to an improving market for hotel rooms - a market that took a heavy hit following the terrorist attacks in 2001. Winston Hotels' revenue per room improved 6.7 percent in 2004, and occupancy was up by 3.9 percent.
Downtown Raleigh has only four hotels, with a total of 615 rooms. A hotel on the Raleigh Office Supply site would be within a short walking distance to dozens of restaurants and shops in the Glenwood South district.
"Everybody has been looking at that property," says Andy Sandman, a Raleigh lawyer and real estate developer who is partner in the Paramount condominium project under construction a few blocks north of the office supply building.
© Triangle Business Journal
Winston eyes Glenwood inn
By Amanda Jones
Raleigh- Winston Hotels is negotiating a deal that would add a hotel, likely flying a Hilton flag, to downtown Raleigh's Glenwood South district.
The Raleigh hotel company is in talks with the owner of the vacant Raleigh Office Supply building at the corner of Tucker and Boylan streets for a land lease deal, say sources. A 51,000-square foot building would be torn down to make way for a multi-level hotel.
Winston had been in talks with the owners of the Warren Distributing building on Glenwood Avenue before a joint venture between Trammell Crow Residential and Blue Ridge Realty put the property under contract. The partnership plans to build a mixed-use property with condominiums, retail and office space.
Ken Crockett, chief operating officer for Winston Hotels, would not confirm nor deny Winston is in talks about the Raleigh Office Supply building, but he says the company is interested in downtown Raleigh. "We have several projects in the pipeline around the country, but I don't want to announce anything until I know it's done," says Crockett. Winston Hotels Chief Executive Officer Bob Winston was out of town and unavailable for comment.
It's not he first time Winston has shown an interest in downtown Raleigh. The company was one of the initial bidders that considered developing a hotel adjacent to a new convention center, but the firm pulled out of hte talks, claiming it would need additional incentives from the city to make the project work economically. Stormont-Noble Development of Atlanta was selected to build a 400-room Marriott hotel.
Winston also is in negotiations to build a Hilton Garden Inn at the new Mayfaire mixed-use development near Wrightsville Beach. The Winston family also owns property near Raleigh's RBC Center, where a hotel is planned.
Over the past 18 months, Winston Hotels has focused on putting its capital to work by providing mezzanine financing for other hotel developers or in acquiring properties to be converted into higher-end inns.
Developing new hotels has not been high on the company's priority list, but that appears to be changing.
The shift may be linked to an improving market for hotel rooms - a market that took a heavy hit following the terrorist attacks in 2001. Winston Hotels' revenue per room improved 6.7 percent in 2004, and occupancy was up by 3.9 percent.
Downtown Raleigh has only four hotels, with a total of 615 rooms. A hotel on the Raleigh Office Supply site would be within a short walking distance to dozens of restaurants and shops in the Glenwood South district.
"Everybody has been looking at that property," says Andy Sandman, a Raleigh lawyer and real estate developer who is partner in the Paramount condominium project under construction a few blocks north of the office supply building.
© Triangle Business Journal
Edited by Justin6882, 11 April 2005 - 02:44 PM.
