Conor Acquisitions purchases Courtyard by Marriott in Memphis

Courtyard Memphis

Conor Acquisitions recently announced the purchase of the 96-room Courtyard by Marriott East Lenox Park in Memphis, Tenn. Jonathan Williams serves as the general manager.

“The acquisition of this hotel reinforces our commitment to create a truly nationwide presence for Conor,” said Mike Patel, Conor’s Chief Investment Officer. “We are looking for value-added properties beyond the southeast that will both benefit their local communities and afford Conor many opportunities for success.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

“Because of Conor’s unique ability to reposition and convert projects, we have a strong vision for this hotel,” continued Patel. “As a newly-renovated Marriott Courtyard with a great location in the area, we see it becoming a natural hub for business and leisure travelers, as well as small corporate meetings. Conor will retain Atlanta-based Hotel Equities, the management firm that has successfully operated the hotel for more than 18 months. We will combine Conor’s development vision with Hotel Equities’ operations expertise to make this one of the best Courtyard by Marriott hotels in the system.”

Under Hotel Equities’ management, the hotel completed a comprehensive renovation and a significant profit improvement plan in July 2014, both of which exceeded Marriott’s expectations. Almost immediately, the successful upgrade and changes yielded a marked increase in revenues and profitability that Hotel Equities continues to sustain.

Located off I-240 and Bill Morris Parkway (I-385) and just minutes from Poplar Avenue in Germantown, the hotel appeals to both business and leisure travelers. It is convenient to the city’s finest dining, tourist attractions, shopping and Class A office space for corporate travelers.

“Hotel Equities has a proven track record of success with the Courtyard East Lenox Park Memphis and we are pleased that our partner, Conor Acquisitions, will retain us as the management firm,” said Joe Reardon, SVP of marketing and business development. ”Memphis is an exciting city with a growing market and we will continue to optimize opportunities and add value to this well-positioned hotel.”

The hotel features a choice of king and double rooms, suites and spa suites in a business-friendly corridor of Memphis near the FedEx Worldwide Headquarters. All guests enjoy complimentary Wi-Fi, a 24-hour business center, an outdoor pool, whirlpool and fitness room. The spacious meeting space is perfect for reception-style gatherings as well as corporate meetings. The thoughtfully appointed Bistro offers delicious dining options, as well as Starbucks beverages and a full bar.

Suggested Articles

industry experts offered insight on selling franchised hotels as well as how to prevent ADA issues from developing during a renovation.

Paul Kelly, CEO of the National Tourism Development Authority Fáilte Ireland, said the capital needs 1,000 new rooms in the coming years.

Construction of the hotel on the site of the historic Equity Chambers building has commenced and the project is expected to open by Q2 2020.