Atlanta’s Twelve Hotels sold

A real estate partnership said Monday it has acquired the two Twelve hotels in Atlanta.

Twelve Atlantic Station

050926-Atlanta: Twelve Hotels and Residences Atlanta Station on 17th Street. Shown under construction in September 27, 2005. (Brant Sanderlin photo/Staff)

The joint venture of hotel operator Global Management & Investment and investor Compass Real Estate acquired Twelve Atlantic Station Hotel and the Twelve Centennial Park Hotel for an undisclosed sum.

The hotels were a new concept developed by Novare Group in the mid-2000s, and included rooms that were similar to furnished condominiums. The hotels also were attached to condominium developments.

A news release said the hotels will become part of the Autograph Collection of hotel giant Marriott International, a series of boutique hotels with unique characteristics. The hotels will retain the Twelve name, the release said. The pairing with Marriott will help the hotels generate sales by entering Marriott’s rewards and booking platforms.

Additional Twelve hotel concepts were considered but ultimately only two were built. Novare Group once proposed a Twelve concept involving a hotel and two 30-story condo towers near the Dunwoody MARTA station where insurance giant State Farm is currently building a major operations center.

The news release said the restaurants at the hotels will be renovated under well-known restaurateur and Concentrics Restaurants founder Bob Amick.

“Preserving the successful boutique that Jim Borders developed and combining it with Marriott’s Autograph Collection creates a unique and compelling branding opportunity, guest experience and investment strategy,” Compass Chief Investment Officer Jeff Warwick said in the release.

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1 comments
TD1233
TD1233

Nice PR spin.  Failure of a hotel concept that was sold for pennies on the dollar, and still called a "successful boutique"