Whitestone Capital Acquires Historic Westin Great Southern Hotel
Whitestone Capital, a division of Whitestone Companies, proudly announces the acquisition of The Westin Great Southern Hotel in Columbus, Ohio. This all-cash transaction marks Whitestone's fourteenth purchase in the last twenty-four months and its first hotel in downtown Columbus.
"While we have recently purchased many great assets in cities across the country, this one is especially meaningful as it's right here in our hometown," said Jay Batra, Chief Executive Officer of Whitestone Companies. "We are incredibly excited and proud to add such a remarkable historic property to our portfolio."
The Westin Great Southern Hotel, located at 310 S High Street, was originally constructed in 1896 and has long stood as an architectural and cultural cornerstone of the city. Listed on the National Register of Historic Places, the property has been celebrated for its rich heritage, including its early years as the Great Southern Fireproof Building and Opera House and has welcomed historical figures such as Presidents William McKinley, Theodore Roosevelt, William Howard Taft, Franklin D. Roosevelt, and Woodrow Wilson.
"When you step into the picturesque two-story marble lobby, you feel a century's worth of history all around you," said Batra. "You see the passion that went into building it. They don't build them like this anymore."
The hotel consists of 189 guestrooms, the Bar Cicchetti Restaurant, and over 10,000 square feet of event space. The ballroom's iconic marble floor, stained glass windows, and 25-foot ceilings give off a roaring 20's fairytale mystique that weddings gravitate to.
"Our investors and designers love projects like this," said Chuck Groger, Chief Revenue Officer of Whitestone Companies. "While different than our more traditional value ad offerings, this type of project represents a unique blend of restoring the glory of a priceless asset, having a one-of-a-kind story, and driving an updated guest experience that makes an investment like this special."
Whitestone has selected ZMC Hotels as the manager of the property. With this acquisition, Whitestone Companies continues its mission of acquiring premium hospitality assets that present a strong value proposition to both current and prospective investors. The company's track record of acquiring properties in sought-after markets underscores its commitment to quality, growth, and investor returns. Whitestone Companies is one of the region's most active real estate investment firms over the last twenty-four months and expects the current acquisition pace to continue.
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