Tag: AC Hotels

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Business Development News

Autograph Collection Hotel Planned for Former Anna Louise Inn Building

Anna Louise Inn

Shortly after breaking the news that The Banks development team is in negotiations with AC Hotels to bring the trendy European hotel brand to the central riverfront, UrbanCincy confirmed that the real estate development arm of Western & Southern is close to finalizing an agreement that would bring a boutique hotel to Lytle Park as well.

Multiple sources have confirmed that a deal is being worked out that would bring an Autograph Collection hotel to the former Anna Louise Inn. When reached for comment, Mario San Marco, President of Eagle Realty Group, acknowledged that the company is working diligently to bring an Autograph Collection hotel to the site, but that details had not yet been finalized or presented to City Hall.

Western & Southern executives had previously stated that they wanted to bring a boutique hotel to the site that would have somewhere around 106 rooms. The plan would fit the company’s larger plans for the historic district that call for creating a high-end enclave surrounding Lytle Park, which Western & Southern helped save from demolition in the 1960s by pushing for the creation of Lytle Tunnel.

Autograph Collection is a unique brand owned by Marriott International. Instead of the rest of their brands which maintain their names, Autograph Collection makes a unique name and concept for each of their sites. The closest such hotel is Cleveland’s 156-room Metropolitan at The 9.

Sources have also confirmed that, like the AC Hotel at The Banks, this boutique concept by Autograph Collection would be managed by Cincinnati-based Winegardner & Hammons.

The two recent hotel announcements appear to be the end of the center city’s recent hotel boom that has included a new 122-room SpringHill Suites, 134-room Residence Inn by Marriott, 160-room 21c Museum Hotel, 323-room Renaissance Hotel, 105-unit Homewood Suites, 144-room Hampton Inn & Suites, and a 144-room Aloft Hotel.

The boom has also included major, multi-million dollar renovations of the Hyatt Regency and Westin Hotel in the heart of the central business district. The remaining unanswered question continues to be what will happen with the deteriorating Millennium Hotel, which, at 872 rooms, is the center city’s largest, and serves as the region’s primary convention hotel.

Despite the addition of more than 1,100 new hotel rooms over the past several years, occupancy rates have held relatively constant. More critically, room rates and RevPAR – the hotel industry’s calculation of revenue per hotel room – have been steadily increasing over the same period and are now well above regional and national averages.

Project leaders at Eagle Realty Group declined to provide any specific timeline or budget for the project, but previously stated that they hope to get an operator under contract by mid-2015, with construction commencing shortly thereafter.

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Development News

Will AC Hotels by Marriott Open Second Regional Location at The Banks?

The Banks development team is close to finally securing a hotel at the multi-billion dollar development, according to multiple sources close to the project. After years of failed starts and negotiations, UrbanCincy has learned that AC Hotels by Marriott is the hotel now being eyed for the prominent central riverfront location.

The news is yet to be officially announced or confirmed by The Banks development team, but UrbanCincy has confirmed the information over the last week with individuals who have requested to remain anonymous due to the ongoing negotiations taking place.

The understanding is that construction could begin prior to the All-Star Game in July.

The news comes after AC Hotels backed out of a deal at the former School for Creative and Performing Arts in Pendleton. Had that deal moved forward, it would have put it on track to be one of the boutique hotel’s first locations in North America, after establishing itself as a household name in Europe.

According to those sources close to the project, the AC Hotel at The Banks would be a seven-story structure with a rooftop bar named AC Lounge. Once open the hotel, which is expected to have between 150 to 200 rooms, would be managed by Cincinnati-based Winegardner & Hammons, which has close relationships with Marriott and Western & Southern, and has overseen the development of numerous hotels in the region.

According to Winegardner & Hammons’ most recent company report, they also recently signed a contract to manage an AC Hotel in Louisville that is scheduled to break ground in August of this year.

AC Hotels announced their aggressive North American expansion plans in 2013, and opened their first hotel in New Orleans in December 2014. After plans were scuttled for the SCPA project, developers at the $350 million Liberty Center announced that a 130-room AC Hotel would open there in late 2015.

Senior management at Marriott International says that AC Hotels is one of their select-service brands and targets a young clientele seeking a “design-led sensibility.” Overall, Marriott’s president and CEO, Arne Sorenson, says that AC Hotels has some 50 development deals signed nationwide, with dozens more in the works.

In an interview with Hotel News Now, Sorenson specifically identified North Carolina and the Midwest as opportunity markets.

In perhaps a view into one of the reasons behind the failed deal at the former SCPA in Pendleton, Sorenson also told Hotel News Now that the vast majority of the deals AC Hotels has in the pipeline are new construction. In fact, aside from the New Orleans project, he said that only one other project was a conversion.

AC Hotels include more European design influences and place a focus on sleek, tech-focused accommodations that appeal to Millennials. In addition to the rooftop AC Lounge, the new location at The Banks would likely include a communal working space, two to three meeting spaces, and a mixture of one- and two-bed guest rooms.

One of the company’s standard approaches is to locate in vibrant urban areas where significant activity already exists. Hotel management says this is to encourage guests to go outside of the hotel and patronize area businesses. To help further encourage that, most AC Hotels do not include an in-house restaurant, and instead allocate more area for public spaces where guests can mingle and interact with their surroundings.

It is not yet known where exactly the hotel will be located at The Banks, but it is assumed to be targeted for the long-vacant placeholder site along Main Street across from Great American Ball Park, which also happens to be located directly on the Cincinnati Streetcar‘s starter line.

EDITORIAL NOTE: Representatives with The Banks development team did not respond to UrbanCincy’s request for comment; however, sources say an official announcement is expected within the coming weeks. We will update this story with more information as it becomes available.

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Development News

Final Designs Coming Into Clarity for $23M SCPA Redevelopment

Core Redevelopment purchased the former School for Creative & Performing Arts (SCPA) in December 2012 for $1.3 million. The 107-year-old building was originally built as Woodward High School, and Core has been planning redevelop the property since their purchase.

Plans for the $23 million redevelopment have fluctuated since Core became involved. At first the concept was to develop apartments, but then the Indianapolis-based developer looked at transforming the building into a boutique hotel. The hotel concept moved so far along that Core was in final negotiations with AC Hotels in June 2013. At the time, it would have been one of the first in North America, but the deal later fell through and AC Hotels announced that they would enter the Cincinnati market at a lifestyle center in Liberty Township.

Located in Pendleton, SCPA has a rich history that dates back to the early 19th century when the original two-story Woodward High School was established there. At the time, it was heralded as the first public school west of the Alleghenies. SCPA started to take control of parts of the building in 1976, and eventually expanded into the entire structure in 1977.

“We will continue to honor William Woodward and Abigail Cutter by working with the William Woodward Museum to enhance the memorial located on the east side of the site,” stated Core.

The 4.6-acre site is bordered by Thirteenth Street to the south, Sycamore Street to the west, Fourteenth Street to the north and Broadway Street to the east. The historic school is situated on the south edge of the parcel and is currently surrounded by parking on three sides. The northern side of the block contains Cutter Playground, which in recent years has fallen into disuse and is viewed by many neighbors as an under-performing asset.

The park has served as the focal point of discussions regarding the redevelopment of the property. The developers have proposed a variety of concepts that would build varying amounts of parking on parts of the park. The most recent proposal, which is supported by many community members, includes a condensed parking footprint and a partially submerged two-level parking deck.

In addition to developing 148 new apartments and 196 parking spaces, Core plans to remove most all of the existing pavement currently in front of the building’s main entrance along Thirteenth Street. Small access lots would remain on the building’s east and west sides, and the two-level parking deck would be constructed on the rear of the existing five-story structure.

Rents for the apartments, which will run from 500 to 2,000 square feet, are expected to range from $700 to $1,500 per month.

“Maintaining as much of the open space as possible to the north of the building while enhancing the remaining open space through the use of landscaping is also one of our goals.”

The most recent revisions are currently making their way through the approval process at City Hall, but this rendition appears to have the best shot at getting approved. If all goes according to plan, Core intends to begin construction within the next two months and welcome the first residents in Spring 2016.