September 20, 2025

Texas Firm Expands Hotel Portfolio in Memphis

News Summary

A Texas-based real estate firm has made a significant move in the Memphis hospitality sector by acquiring the Sheraton Memphis Downtown Hotel. The transformation is set to begin, with renovations costing between $150 million and $200 million. Additionally, the McNeill Hotel Company has opened the new TownePlace Suites by Marriott Memphis Germantown, contributing further to the vibrant hotel scene in the area. This development emphasizes a community-focused approach, ensuring enhanced accommodation options for locals and visitors alike.

Texas – A Texas-based real estate firm has significantly bolstered its hotel portfolio by acquiring a strategically located Marriott property in the Memphis area. This acquisition marks a vital step in the firm’s ongoing expansion efforts within the hotel market, with plans to invest heavily in the property.

The property in question is the Sheraton Memphis Downtown Hotel, which is conveniently connected to the Renasant Convention Center. The Texas firm has announced an extensive renovation project set to transform the hotel, with costs projected between $150 million and $200 million. The renovations are expected to span over a two-year period, during which the hotel will undergo significant upgrades to better serve its future clientele.

Leading the renovation initiative is Stephen Kallaher, chief hospitality officer of Carlisle Corp., who has outlined plans to enhance the property while possibly transitioning the Sheraton to a different Marriott brand to satisfy updated brand standards upon completion.

In conjunction with this acquisition, the McNeill Hotel Company recently celebrated the grand opening of another project in the area, the TownePlace Suites by Marriott Memphis Germantown. This new hotel is part of the larger Thornwood mixed-use development and was officially inaugurated with a ribbon-cutting ceremony officiated by the Germantown Chamber of Commerce. Among the attendees were corporate clients, investors, and local community members, highlighting the importance of this new addition to the area.

The TownePlace Suites features a total of 111 rooms and stands at five stories tall. Designed by Andrea Gillespie of AK Design Studio, the hotel’s aesthetic focuses on a custom look, incorporating materials such as brick and limestone in its exterior design. The property is equipped with a variety of modern amenities including a restaurant, rooftop bar, fitness center, and an indoor pool. Additionally, the hotel provides 6,000 square feet of retail space, further enhancing its appeal as a community-centric hub.

Located conveniently at 7800 Neshoba Road in Germantown, the TownePlace Suites is strategically situated near key locations, including the Germantown Performing Arts Center and the Methodist Le Bonheur Germantown Hospital, making it an ideal choice for both business and leisure travelers.

McNeill Hotel Company is responsible for the management of the TownePlace Suites, alongside the Hampton Inn & Suites Memphis/Germantown, ensuring high-quality service and accommodations for visitors. The president of MHC expressed pride in managing properties that meet the local demand for modern and accessible hotel options.

The recent acquisition and renovation plans for the Sheraton Memphis Downtown Hotel signal a robust growth trajectory for the Texas-based firm as it seeks to establish a prominent presence in the Memphis hotel market. With strategic investments and focused management, the firm appears poised to elevate the guest experience in the region and contribute to the economic vitality of Memphis’s hospitality sector.

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