The renovation project will be completed in phases with the final completion date slated for early 2009, which will coincide with completion of the airport and regional transportation hub expansion. Plans call for a total makeover of the 366-room Marriott Hotel, including the conversion of the lobby to the new Marriott "great room" design. The hotel has 12,500 sf of meeting space, a spa, health and fitness center, swimming pool and business center.

An existing 126-room Courtyard by Marriott will be completed by the end of 2007. A 10-story, 174-room tower will be constructed and connected to each floor to the existing structure, bringing the total room count to 300. The existing lobby, restaurant and other facilities will migrate to the new tower upon its completion, which is expected in early 2009.

Also planned is the construction of a new Residence Inn by Marriott. The current 285-room Fairfield Inn has been closed and will be demolished and replaced with a 160-suite Residence Inn with studio, one- and two-bedroom suites. The new hotel, which will be located near medical centers and office space, will target guests that typically stay five nights or longer.

When the renovation project is completed, the three hotels will share a central plaza and outdoor meeting and banquet space. "Our mission at Thayer is to realize exceptional returns through value-add business plans," says Thayer CIO Bill Reynolds, in a released statement. "Here, the combination of creative renovation and new development in one of the country's high growth economies is compelling."