A joint venture comprised of Wexford Lodging Advisors and Trinity Private Equity Group acquired the 398-room Marriott Kansas City Overland Park (Kan.) from Integrated Capital. Davidson Hotels & Resorts will operate the hotel.
The JV plans to invest approximately $17 million to upgrade the property’s guestrooms and public spaces, renovate its meeting space and lobby, introduce Marriott’s M Club concierge lounge and develop a new fitness center.
“We are very pleased to announce our second acquisition with Trinity Private Equity Group, following our acquisition in April of the DoubleTree Suites Nashville Airport,” John Rosen, president of Wexford Lodging Advisors, said in a statement. “The Marriott Kansas City Overland Park is a perfect example of what we target: It is a well-located property in a market with strong demand generators that will benefit greatly from a comprehensive renovation and from Wexford’s hands-on asset management.”
The 11-story hotel is located in Overland Park, a little over half an hour from Kansas City, Mo., and near the headquarters for Black & Veatch, Sprint, YRC and AMC Theaters. It includes 13,370 square feet of meeting space, three food-and-beverage venues, a fitness center and both an indoor and an outdoor pool.
Wexford Lodging Advisors is a national hotel investment and asset management firm with a current asset management portfolio of seven hotels. Trinity Private Equity Group is an alternative investment management firm invested in more than 100 commercial real estate projects and 15 lower-middle-market private equity transactions. A full-service hotel management company, Davidson Hotels & Resorts operates 45 hotels and more than 13,000 rooms.