NEW YORK—HOTEL BUSINESS® has learned that management firm Davidson Hotel Co. and Ohio-based investment company RockBridge Capital, LLC have done a joint-venture acquisition of the 380-room Stamford Holiday Inn Downtown in Connecticut. The JV purchased the property from FelCor Lodging Trust, Inc. for an undisclosed amount. Memphis, TN-based Davidson, which will manage the property, holds a minority interest in the partnership. Next January, the property is slated to undergo a $15 million renovation that would upgrade the exterior, interior and guestrooms. The renovation is expected to be completed by mid-2008. Located at 700 E. Main St., the 10-story hotel features 20,000 square feet of meeting space, on-site guest laundry, a full-service business center and the Bristol Bar and Grille. According to John Belden, Davidson’s president/CEO, the acquisition “is consistent with our strategy of purchasing well regarded, branded hotels in markets with high barriers to new competition.” This is Davidson’s second acquisition in a joint venture this year and the seventeenth property in its relationship with RockBridge Capital.—Stefani C. O’Connor
