The downtown Columbus Marriott hotel is for sale and a contract is pending, but the deal has not been completed, Pezold Management Associates executive Tracy Sayers confirmed Wednesday morning.
The 177-room full-service hotel has been owned by Four J S Family, a Pezold Management holding company, for more than 10 years. Sayers would not disclose the potential purchaser.
The projected closing is based on the Marriott Corp., but it should be within the next 30 days, Sayers said.
Trey Scott with Hunter Hotel Advisers, the Atlanta-based broker involved in the deal, confirmed there is a contract, but declined to elaborate on details or identify the buyer.
There are multiple parts to this, Scott said. We are still finalizing the deal.
The deal calls for the prospective buyer to retain the 130 employees working at the Marriott, which has a Houlihans restaurant on the property, situated across Front Avenue from the Columbus Convention & Trade Center.
In addition to the Marriott, Pezold owns five other hotels in the Chattahoochee Valley, including three Hampton Inns. Pezold is looking to acquire additional hotels, Sayers said.
The Marriott is owned by Four J S Family and managed by Valley Hospitality Services, which is also a Pezold-owned company. Pezold Management Associates has extensive holdings that include 19 area McDonalds restaurants and Denim North America, a Columbus textile company. Pezold Management has about 2,300 employees.
Four J S Family purchased what was then the Columbus Wyndham Hotel for about $13.4 million in December 2002. Prior to the Wyndham brand, the property flew the Hilton flag.