DoubleTree by Hilton Augusta, GA

Investment Summary

Investment Date: January 2006
Opening Date: May 2007
Total Rooms: 182
Meeting Space: 10,000 SF
Food & Beverage: Andrew's Restaurant, Lotus Lounge

Investment Overview: Reposition and Re-Branding

Formerly a Sheraton, the Augusta Towers Hotel & Conference Center was purchased through a foreclosure sale. The property was once the crown jewel of Augusta hospitality, serving as the premier full-service hotel in the market. Since the late-1990s, however, the property had suffered from a lack of preventative maintenance and capital reinvestment.

As a hotel operator, SIG evaluated local demand generators and growth trends to determine there was significant upside potential. The property is strategically located within the financial and medical districts and is in close proximity to the Augusta National Golf Club and Fort Gordon military base. In addition, the site is easily accessible from Interstate 20 and Augusta Regional Airport. SIG worked closely with city officials and Hilton Worldwide to re-brand the hotel into a DoubleTree by Hilton.

After a one-year, $7.5 million transformation, the hotel re-opened its doors in May 2007. Between SIG's management expertise and Hilton reservation system, the DoubleTree has become a consistent market leader in RevPAR and guest satisfaction.