Atlanta-based Davidson Hotels and Resorts said Thursday that it has assumed management of the Peabody Little Rock and that the hotel will be converted to a Marriott in the second quarter.
The 418-room hotel in downtown Little Rock marks the second management agreement between Memphis-based private investment firm Fairwood Capital LLC and hotel-management company Davidson. They also run the Hilton Knoxville in Tennessee.
“The addition of the Marriott Hotels & Resorts brand will enable us to maximize the economic impact the property will have on the city, the state and within the region," Davidson President and Chief Executive Officer John Belden said in a statement. "The new Little Rock Marriott will expand our overall Marriott portfolio to eight full-service assets with over 2,500 rooms.”
Davidson plans to undertake a multimillion-dollar renovation of all the hotel’s guest rooms and public spaces starting in the fourth quarter.