Joint Venture Between Wexford Lodging Advisors and Trinity Private Equity Group Acquires 398-Room Marriott Kansas City Overland Park
Officials of a joint venture comprised of Wexford Lodging Advisors, a leading hotel investment and asset management firm, and Trinity Private Equity Group, one of the nation's top alternative investment firms, today announced the acquisition of the 398-room Marriott Kansas City Overland Park. The joint venture will invest approximately $17 million to upgrade the property's guest rooms and public spaces. Davidson Hotels and Resorts, one of the nation's largest third-party management companies, will operate the hotel.
"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. 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," said John Rosen, president, Wexford Lodging Advisors. "We are also excited to work with Davidson Hotels & Resorts to plan and implement the repositioning this prominent hotel deserves."
In addition to a full guestroom remodel, Wexford's plan includes renovation of the meeting space and lobby, in addition to the introduction of Marriott's M Club concierge lounge, as well as development of a brand new, best-in-class fitness center experience.
"Kansas City is a bourgeoning market, and the Marriott Kansas City Overland Park is at the heart of the action," said Davidson Hotels & Resorts President Thom Geshay. "We're excited to work with Wexford Lodging Advisors and Trinity Private Equity Group on cultivating an enhanced guest experience that meets the growing demand for upscale properties in the region."
Located at 10800 Metcalf Ave., the 11-story hotel is situated on I-435 within 20 million square feet of office space, proximate to major headquarter offices, including Black & Veatch, Sprint, YRC and AMC Theaters.