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STAMFORD, CT–The 380-room Stamford Holiday Inn Downtown has changed hands. The 10-story hotel at 700 E. Main St., was sold by FelCor Lodging Trust of Irving, TX to a joint venture of RockBridge Capital LLC of Columbus, OH and Nashville-based Davidson Hotel Co. for an unspecified amount.

The new ownership says it plans to begin a $15-million renovation program at the property beginning in January 2008 that will include upgrades to the hotel’s exterior, interior and guest rooms. The capital improvement effort will be complete sometime in spring 2008.

“The hotel will achieve ‘like new’ status following the completion of a major renovation to virtually all aspects of the property,” says John Belden, president and CEO of Davidson Hotel Co. “The Stamford market continues to thrive, and this acquisition is consistent with our strategy of purchasing well regarded, branded hotels in markets with high barriers to new competition.”

The deal marks the 17th property that the two firms have bought together. Last June, they acquired the 393-room Renaissance St. Louis Airport Hotel from an affiliate of Marriott International. Earlier this year, Davidson Hotel Co., in a joint venture with the Carlyle Group, acquired the 334-room Houston Sofitel Hotel.

The renovation effort at the Stamford Holiday Inn Downtown Hotel in 2008 will involve the enhancement of the porte-cochere, landscaping and parking garage frontage; relocation of the lobby lounge, front desk and pool and addition of a health club and lap pool. The hotel also features 20,000 sf of meeting space, on-site guest laundry facilities, a business center and the Bristol Bar & Grille.

Belden says “Davidson has become one of the Top 10 largest independent management companies in the industry and we will continue to strategically grow our acquisition and third party management platforms.”

In the past three years, Davidson has engaged in transactions totaling $1 billion. The firm currently owns or operates 29 hotels with nearly 8,700 rooms in the US. In June 2006, its executive team said it intended to double its size in the next five years.

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