In May 2016 with our partner, Walton Street Capital, we repurchased the hotel from Diamond Rock Hospitality (DRH) for approximately $137 million or $19 million less than the purchase price in 2010.
A complete renovation of the lobby and meeting space commenced in November 2016. The scope of the meeting space renovation, (which in composed all 75,000 sq. feet of meeting space in the hotel) included new carpet, vinyl, lighting and repair or replacement of all air walls. The lobby renovation, which commenced in January of 2017, consists of a new bar, restaurant and marketplace. The total project was completed in June 2017. The total anticipated cost will be approximately $13.5 million.