News
CHARTRES' CHARM CITY BUY
July 26, 2012
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| Chartres Lodging has acquired the historic Tremont Plaza boutique all-suites hotel. The deal puts Baltimore in an impressive class, considering the rebuilding investor also owns in markets like Chicago, Dallas, Denver, DC, LA, and NYC. Chartres Lodging prez Maki Bara (whom we snapped with Gemstone Hotels & Resorts development and acquisitions head John Plunket) tells us the deal closed in June and the plan is to hang Hilton's Embassy Suites flag above the 300-key property (plus 45k SF of meeting space across 19 rooms and five floors) when renovations are done in mid-2013. She says The Tremont's all-suites format makes raising the new flag easy. (Just watch out for any hotels in the area raising pirate flags nearby.) Chartres affiliate Kokua Hospitality will manage the property. |
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| Here's the unassuming front entrance, at 222 Saint Paul Pl, just six blocks from the Inner Harbor. The seller, DC-based William C. Smith + Co, finished a multimillion-dollar renovation in 2010 and in January had announced plans to convert the property—which it had purchased in the early '80s when it was apartments and offices—into long-term executive apartments (the two-month to two-year variety). |
