CBL and Associates Prope... (NYSE:CBL)
Historical Stock Chart
6 Months : From Oct 2019 to Apr 2020
CBL Properties (NYSE:CBL) and Vision Hospitality Group, Inc. today announced that construction has commenced on the 135-room Aloft by Marriott in Chattanooga, Tennessee, as part of the Sears redevelopment project at Hamilton Place. The new hotel marks the brand’s entrance into the Chattanooga market.
“We are thrilled to begin the second phase of Hamilton Place’s redevelopment project with the start of construction on Aloft by Marriott by our partners at Vision Hospitality Group,” said Stephen Lebovitz, chief executive officer, CBL Properties. “It’s remarkable to watch the transformation that is occurring at Hamilton Place since work began on the project earlier this year. As Aloft by Marriott prepares to join other unique uses and brands, our vision of creating a mixed-use, suburban town center for the Chattanooga market is being brought to life.”
“For some time now we have been working to find an opportunity to partner with our friends at CBL, and we are very excited to be moving forward with the development of the Aloft by Marriott at Hamilton Place,” said Mitch Patel, President & CEO, Vision Hospitality Group. “Aloft by Marriott fosters innovative experiences that align with the mission of the Hamilton Place redevelopment, further demonstrating the area’s vibrant renewal. We are so pleased to continue our relationship with both CBL Properties and Marriott to introduce this brand to Vision’s hometown of Chattanooga.”
Aloft Chattanooga Hamilton Place will be located between The Cheesecake Factory and the future Dave & Buster’s. Additional announcements will be made as plans are finalized.
About Vision Hospitality Group, Inc.
Chattanooga-based Vision Hospitality Group, Inc. is a leading hotel management and development company with an unwavering commitment to quality and integrity. Although the company’s roots date back to 1978, Vision Hospitality Group, Inc. was officially formed in 1997 by President & CEO Mitch Patel. Still family-owned and operated today, Vision has a hotel portfolio and pipeline of premium select and full-service hotels affiliated with the Hilton, Marriott and InterContinental brands. To learn more about Vision Hospitality Group, Inc., visit www.vhghotels.com, www.facebook.com/vhghotels and www.twitter.com/vhghotels.
About Hamilton Place
Hamilton Place offers more than one million square feet of retail bliss inside the two-story mall. Conveniently located off I-75, 12 miles from the heart of downtown Chattanooga and 4 miles from the Chattanooga Airport, Hamilton Place is the focal point of a 200-acre retailing complex that includes Hamilton Corner, Hamilton Crossing, The Shoppes at Hamilton Place and The Terrace. Throughout and surrounding the center are five department stores, 30 eateries and more than 200 specialty shops. For more information, please visit www.HamiltonPlace.com, find us on Facebook at www.Facebook.com/HamiltonPlace or Twitter at @HamiltonPlaceTN. Hamilton Place is owned and managed by CBL Properties of Chattanooga, Tenn.
About CBL Properties
Headquartered in Chattanooga, TN, CBL Properties owns and manages a national portfolio of market-dominant properties located in dynamic and growing communities. CBL's portfolio is comprised of 108 properties totaling 68.2 million square feet across 26 states, including 68 high‑quality enclosed, outlet and open-air retail centers and nine properties managed for third parties. CBL continuously strengthens its company and portfolio through active management, aggressive leasing and profitable reinvestment in its properties. For more information, visit cblproperties.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191015005215/en/
Investor Contact: Katie Reinsmidt, Executive Vice President & Chief Investment Officer, 423.490.8301, Katie.Reinsmidt@cblproperties.com
Media Contact: Stacey Keating, Director of Public Relations & Corporate Communications, 423.490.8361, Stacey.Keating@cblproperties.com