White Lodging Completes Suburban Hotel Market Exit, Progresses on $750M in New Developments
Merrillville, Indiana (May 31, 2022) – White Lodging closed on the sale of the company’s five remaining suburban hotels. This follows shortly after the company announced a sale of 25 suburban management projects earlier this year, and the final step in a multi-year strategy to exit suburban markets altogether.
The transformational shift for White Lodging’s portfolio focuses the company’s resources on new developments and across concentrated urban destinations with more complex hotels that deliver memorable and elevated guest experiences.
White Lodging’s remaining high-value portfolio consists of more than 50 premium hotels; a private collection of world-renowned luxury ranches; 40 locally relevant, award-winning restaurants; and 10 market-leading rooftop bars. White Lodging’s core urban markets include some of the country’s fastest growing cities, including Indianapolis, Austin, Louisville, Chicago, Denver, San Antonio, Nashville, and Charlotte.
“White Lodging’s vision and focus are clearer than ever,” said Jean-Luc Barone, White Lodging’s Chief Executive Officer, Hospitality Management. “In addition to business clarity, our focused portfolio is tailored to support clearer career paths for associates with multiple hotels in concentrated urban markets – most just blocks away from each other.”
In 2021, White Lodging opened four new premium brand urban hotels and nine locally relevant food and beverage concepts, including the J.W. Marriott Charlotte, Canopy San Antonio Riverwalk, Austin Marriott Downtown at the convention center, and Moxy Austin University.
$750 Million of Growth Investments in Progress
Ken Barrett, President of White Lodging, recently described the company’s capacity and opportunity for new hotel development as ‘targeted and robust’ following the recent sales. This robust pipeline includes more than $750 million in planned new hotels in San Antonio, Austin, and Nashville.
In San Antonio, White Lodging is transforming an existing 251-room property into The Otis Hotel San Antonio, Autograph Collection. The hotel is the second of its namesake, with The Otis Hotel Austin, Autograph Collection, opening in February 2020 next to the University of Texas. The Otis San Antonio is expected to open in the first half of 2023. Within steps of The Otis San Antonio another luxury hotel is planned to take shape by White Lodging, with construction expected to start before the end of the year.
Brand and design details of the expected Austin and Nashville builds have not yet been shared. White Lodging recently purchased a large parcel of land in Nashville’s SoBro entertainment district across from the JW Marriott and in Austin near the convention center. The company currently owns and/or operates 12 existing hotels, 10 restaurants and 5 rooftop bars in downtown Austin and two premium hotels in Nashville.