Capstone Development Selects Chartwell Hospitality to Manage Eleven New Properties
Chartwell Hospitality, a Tennessee-based development and third-party management company, is set to manage 11 properties owned by Capstone Development. The company has managed eight additional Capstone hotels for the past several years.
“Our relationship began with Capstone in 2014, when they purchased the Hampton Inn & Suites Elliston Place and Hampton Inn Vanderbilt/West End in Tennessee,” Kevin Green, COO of Chartwell Hospitality, said in a statement. Over the ensuing years, both companies sought out other opportunities to partner hotels and management agreements. “Two years later, Chartwell Hospitality sold Capstone six hotels in south Florida [which] we continue to manage.”
The 11 new properties consist primarily of Hilton and Marriott brands along with one Choice Hotel property. Currently, 19 hotels in the Chartwell Hospitality portfolio are owned by Capstone Development. Chartwell Hospitality owns, develops and manages 37 hotels across 12 states with an additional four under construction and five more scheduled to break ground in 2018. Overall, the assets owned and managed by the company total in excess of $1B.
To learn more about Chartwell, visit www.chartwellhospitality.com.
About Chartwell
Chartwell Hospitality LLC is an award-winning, fully integrated hotel operations and development company specializing in the acquisition, development and management of high-quality, branded, limited-service and full-service hotels. With substantial transaction and real estate expertise, Chartwell has a proven track record for maximizing cash flow and increasing ROI in high growth markets with multiple generators. Chartwell approaches real estate investment from an owner's perspective, investing capital alongside select private and institutional investors. To date, Chartwell has executed 61 hotel investments, delivering occupancy and market rates that consistently surpass its competition.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
