JV Scores Marriott Franchise Agreement for Hotel Development
- Aug 18, 2017
A joint venture between T-Rex Capital Group affiliate Bellefield Development Partners and The Shaner Hotel Group, were awarded a Marriott International Franchise Agreement for a soft-branded Residence Inn in Hyde Park, N.Y.
The 133-key Hotel at Bellefield will be the initial vertical construction at a 339-acre site situated at the gateway to Historic Hyde Park on Route 9 in Dutchess County. The hotel is the first of two planned for the location. The $500 million tourism destination will also include a conference center, freestanding signature restaurant, culinary-based retail and a spa. The site will retain 58 percent as wooded and undeveloped with another 48 acres devoted to agricultural uses.
“We continue to seek well-branded hotels in markets with barriers to new development,” said Lance Shaner, chief executive officer, The Shaner Hotel Group, in prepared remarks. “Hyde Park is establishing itself as a world-class gastronomic location, and the Hotel at Bellefield will cater to guests who desire the quality and consistency of a Marriott-flagged hotel mixed with the casual atmosphere and relaxed environment of an independent-minded property. We are confident the hotel will appeal to business and leisure travelers alike.”
Hyde Park and Dutchess County are home to several tourist destinations including the FDR Presidential Library and Museum, The Walkway Over the Hudson, Vanderbilt Mansion, Marist College and The Culinary Institute of America. There are currently more than 4.5 million visitors to Dutchess County each year.
In June, Marriott broke ground on a Fairfield Inn & Suites at Harrisburg International Airport in Pittsburgh, in which Shaner owns and will manage the property upon completion.
Video courtesy of Bellefield at Historic Hyde Park