The owners of the lease to operate the Little Rock Marriott have put the city's flagship hotel on the market three years after it underwent a $16 million renovation.
The 418-room property is being marketed by Holliday Fenoglio Fowler, L.P., a commercial real estate and capital markets services company.
Gretchen Hall, executive director of the Little Rock Convention and Visitors Bureau, said she doesn't read much into the move by Fairwood Capital LLC of Memphis.
"The current lease holder notified me a while back that they were going to test the market and evaluate if there were any potential opportunities," she said Thursday. "I feel that this is a pretty standard business practice."
The city owns the property which is attached to the Statehouse Convention Center. The bureau receives $120,000 annually for the hotel lease, Hall said.
Davidson Hotel & Resorts of Atlanta manages the hotel for Fairwood Capital, but potential operators would have the flexibility on how to run the hotel, according to an online offering summary for the property.
A representative for Fairwood Capital, Ed Ansbro, didn't return a telephone call Thursday afternoon.