Davidson to Manage Hilton Knoxville
Marks 9th University-related Hotel in Company's Managed Portfolio
March 24, 2011 - Davidson Hotel Company, one of the nation's largest independent hotel management companies, today announced its selection as manager of the 317-room Hilton Knoxville, located in the heart of downtown Knoxville, Tennessee, site of the University of Tennessee. This is the company's ninth university-related hotel. The property, owned by Fairwood Capital, represents the first project between the two companies.
“With the addition of this hotel, our fourth in the state, we now have a presence in all the major markets in Tennessee,” said John Belden, president and CEO of Davidson Hotel Company. “This property is within blocks of the main campus of the University of Tennessee, one of the nation's top public research institutions. Our experience in managing properties on and adjacent to major universities will allow us to quickly create substantial value in this hotel.”
Steve Margol, Davidson's chief investment officer, added, “Through our aggressive internal booking engines, we expect to generate substantial group business that takes advantage of the hotel's close proximity to the Knoxville Convention Center by way of a covered skybridge. We are perfectly situated in the downtown business district, near federal and state government buildings and the corporate offices of the TVA, Alcoa, Kimberly Clark and First Tennessee, allowing us to optimize transient revenue management.”
“This is our first project with Davidson Hotel Company,” said Bob Solmson, principal, Fairwood Capital. “They have a proven track record of success as one of the industry's leading full-service hotel management companies, and we plan to take full advantage of their experience. We look forward to expanding our relationship with Davidson in the years to come.”
Located at 501 West Church Avenue, the Hilton Knoxville enjoys downtown Knoxville's premier location and is accessible to the Knoxville Convention Center. The hotel offers views of the Tennessee River, the Great Smoky Mountains and Neyland Stadium, home of the University of Tennessee Volunteers. The hotel features more than 14,000 square feet of meeting space, outdoor pool and sun deck, expansive fitness center, two restaurants, The Market Cafe and Marty's Bistro, The Orange Martini lounge and downtown Knoxville's only full-service Starbucks®. Guest room amenities include Crabtree & Evelyn® bathroom goods, 32” flat-screen televisions, coffee makers, free high-speed Internet access, large well-lit work desks and Serenity Bedding.
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