Marriot Project Gets New Owners
by October 10, 2005 12:00 am 132 views
We’ve been wondering for at least a year now what’s become of the Courtyard by Marriott hotel project slated for Fayetteville’s CMN Business Park. After all, one of the project’s developers, Curtis Wegener, told the Business Journal in August 2004 that construction would begin that fall. And that’s after they put the project on hold because of the terrorist attacks of Sept. 11, 2001.
So we’re pleased to hear that the Marriott now has new owners at the helm. Fayetteville Hotel LLC sold its lot at CMN on Sept. 13 to Cohen Realty Inc. of Memphis and Linda and Michael Harrell of Vista Host in Houston.
We’re not clear on the price, since only one of two deeds was available at the courthouse right now. We know it’s more than $280,000.
Elliot Cohen of Cohen Realty said construction on the 115-room, four-story hotel should start in the spring and will take a year to build.
Cohen Realty and the Harrells are no strangers to the hotel business.
Cohen said his firm has about five to six hotels in its portfolio and Vista Host operates more than 25 hotels, including the AmeriSuites in Rogers.