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Whitt Properties, Inc. Aquires the 176-room Masters Inn
in Downtown Little Rock, Arkansas; Hotel Closes for
Renovation and Rebranding to Comfort Inn & Suites
December 30, 2002 - Storm Nolan, Vice President of Development, is leading Whitt Properties, Inc. of Fort Smith, Arkansas, into its first real estate project in the hospitality industry.

Whitt Properties, Inc. has recently acquired the 176-room Masters Inn in Downtown Little Rock, Arkansas. The company has shut the property down and has started a major seven-month renovation project at the hotel. 

The property will be converted into an 158-room Comfort Inn & Suites, with the project costs totaling close to $7MM, including acquisition.

The hotel is a ten-story facility that sits directly on Interstate 30, which runs through Downtown Little Rock, Arkansas. The property is located two blocks from the site of the new Clinton Presidential Library, which is slated to open in late 2004. The newly-constructed Alltel Arena, which hosts many sporting and entertainment events, is located one-half mile from the hotel.

�The Downtown Little Rock area is experiencing a major resurgence of economic activity. Since 2001, developers have committed over $700MM to the downtown area, much of that being spurred on by the ground breaking of the new $200MM Clinton Presidential Center. It�s very exciting to watch the progression of this area in Little Rock,� said Storm Nolan, Vice President of Development at Whitt Properties, Inc.

According to the Little Rock Chamber of Commerce, the Clinton Library and the planned Heifer Project International Headquarters alone should draw 500,000 visitors annually to the area.

The renovation will leave the hotel in �like new� condition, including the construction of a completely new exterior for the building.  The newly-renovated hotel will offer over 6,000 square feet of meeting space and a lobby bar, all designed with a modernistic, boutique-style look and feel. Amenities will include a swimming pool, complimentary high-speed internet access, business center, and in-room coffee service.

Storm Nolan graduated with distinction from Cornell�s School of Hospitality Administration last May. His goal throughout has been to pursue hospitality real estate opportunities with the family�s real estate company. While at Cornell, Storm was a Dean�s Assistant and lead and participated in various entrepreneurial organizations.

Whitt Properties, Inc. is an Arkansas-based commercial real estate investment company. Other properties owned include office buildings, shopping centers, industrial buildings, self-storage facilities, and a convenience store.

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Contact:
Whitt Properties, Inc. 
Storm Nolan
VP - Development
[email protected]
479.649.6909
4700 South Zero St.
Fort Smith, AR  72903


 
Also See Wyndham Rebranding Properties in Dallas, Burlington, Vt., Columbus, Ga. and Little Rock, Ark. Following Completion of Renovations / Sept 2002
Bookings Stagnate at Little Rock, Ark.'s Expanded Convention Center / Aug 2002
Peabody Hotel Group Acquires 100% Ownership Of The Peabody Little Rock / June 2002


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