Marriott Int. Awards Hotel Franchise At $500M Project in Dutchess County
Real Estate In-Depth | August 28, 2017
HYDE PARK—Marriott International has awarded a joint venture of Bellefield Development Partners and the Shaner Hotel Group a franchise for a 133-room Residence Inn to be built at the mixed-use Bellefield at Historic Hyde Park project here.
The Hotel at Bellfield will be the first project to be constructed at the $500-million proposed Bellefield at Historic Hyde Park tourism destination to be developed on 339 acres on Route 9 across from The Culinary Institute of America. Bellefield Development Partners, an affiliate of New York City-based T-Rex Capital Group LLC, is the developer of the phased project. Shaner Hotel Group of State College, PA maintains a portfolio of 51 full-service, select-service, extended-stay and resort properties with more than 5,000 rooms in 17 states and two countries.
Initial plans for the Bellefield development call for two hotels, a conference center, a freestanding signature restaurant, a spa, and culinary-based retail establishments.
“We couldn’t be more excited with Marriott International’s approval and support,” says Tom Mulroy, chief executive officer, T-Rex Capital Group LLC. “Marriott International is the leading hospitality company in the world. They will bring a host of services, including their reservation system, to the Hotel at Bellefield and will help promote Bellefield at Historic Hyde as the leading culinary destination on the East Coast.”
Mike Oates, managing partner, Bellefield Development Partners, called the franchise agreement a ‘game changer” for the Bellefield at Hyde Park project. “Hyde Park and Dutchess County already are home to many world-class tourism destinations, including the FDR Presidential Library and Museum, The Walkway Over the Hudson, The Vanderbilt Mansion and Marist College and The Culinary Institute of America, to name a few,” Oates says. “With Marriott International’s support, we will have the right hotel to support these sites. This partnership will have culinary enthusiasts flocking to Bellefield at Historic Hyde Park to enjoy all that we have to offer.”
Oates estimated the new hotel project will cost approximately $40 million to build. The project is currently in the municipal approval process. Bellefield is hopeful it can secure approvals this fall with a groundbreaking to take place shortly thereafter depending on weather conditions.