FRANKLIN, TN—After 15 years in business, Chartwell Hospitality has changed and evolved quite a bit. Originally, the hotel acquisition, development and management company had a portfolio of five small hotels in tertiary markets. But now, with 37 hotels across 12 states, it’s got its eye on dual-branded and full-service hotels in higher-barrier-to-entry markets.
Noting that this has been the strategy for the past five years, COO Kevin Green said, “We did a lot of tertiary markets—and there’s nothing wrong with those markets; they’re great to be in—but the truth is a lot of people like doing those markets, so we’ve evolved into high-barrier-to-entry markets.” He added that the company will do deals in tertiary markets if it’s the right deal.
Black Fox Lodge in Pigeon Forge, which opened in December 2016, will become a Tapestry Collection by Hilton hotel this summer.
The 178-room hotel will remain open during minor renovations for the rebranding, according to a news release. When it formally becomes a Tapestry property in August, it will be the tenth member of the Tapestry Collection, which launched in 2017.
Celebrating its 15-year anniversary in 2018, Tennessee-based development and third-party management group Chartwell Hospitality is prepared for more controlled growth.
In 2003, Robert G. Schaedle III co-founded the company starting with about five “highway-type” hotels. Now the company manages 37 hotels—36 of which are branded—and has seven properties in the pipeline, said Jon Benowitz, VP of capital strategy and investments.
From inception, the company solely focused on select service, but now it has moved into the small full-service space.
FRANKLIN, Tenn. – April 3, 2018 – This summer, Black Fox Lodge in Pigeon Forge, TN will join the Tapestry Collection by Hilton, a portfolio of vibrant, upscale hotels that offer travelers independent lodging experiences combined with value and reliability.