Business & Finance

Local Developers Partner with Concord Hospitality on Front Street Village Hotel in North Carolina

BEAUFORT, N.C. December 20, 2016 - Concord Hospitality Enterprises Company announced today that it plans to partner with local developers to open a hotel as part of the Front Street Village project. Construction on the 100+-room hotel is slated to begin in early 2017, with a spring 2018 opening. A major branded flag will be announced January 2017.

“We are excited to have a hospitality company of Concord’s stature and reputation as part of this project,” said Front Street Village developer and co-owner Bucky Oliver. “We expect the Front Street Village project to have a significant impact on the entire region in terms of driving visitation and creating jobs.”

The 97,000-square-foot hotel is slated to include more than 100 guest rooms spread over three floors and centered in an “L” shape around the existing pool on the property, in addition to meeting and event space. The yet-to-be-named hotel is part of a larger project that includes a 100,000-square-foot convention center; on-site bistro with additional meeting space and suites; and single-family cottages. These new additions will add to current offerings that include a Boathouse marina, dry stack and wine shop.

Headquartered in Raleigh, N.C., Concord has 31 years of experience partnering with owners and investors on more than $1 billion in branded hotel properties across the U.S. and Canada.

“We have successfully developed many different hotel brands over the past three decades,” said Mark Laport, co-founder, president and CEO of Concord Hospitality. “We take special pride in unique projects like Front Street Village that we think are going to have such a significant impact on the communities in which they are located.”

The Front Street Village property was previously a factory that employed hundreds until it closed down in 2015. Concord Hospitality has been brought on board to manage the property, while Live Oak Bank of Wilmington will finance the project.

About Concord Hospitality Enterprises Company

As an award-winning hotel development, ownership and management company, Concord Hospitality Enterprises Company has spent the last three decades partnering with owners and its investors on more than $1 billion in premium branded properties across the United States and Canada. As an operator, both for third party owners and partners, Concord Hospitality instills value from the ground up, developing and managing with a sustainable viewpoint, a focus on quality and a hands-on involvement to ensure long-term profitability. Learn more at concordhotels.com.

Contact:
Alex Ellis
aellis@fwv-us.com
919-277-1188

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