Marcus® Hotels & Resorts to Manage New Capitol District Marriott in Omaha, Neb.
Marcus® Hotels & Resorts, a division of The Marcus Corporation (NYSE: MCS), and MCS Capital LLC, today announced that Marcus Hotels & Resorts has been selected to manage the new Capitol District Marriott hotel currently under development in Omaha, Neb. The 14-story high-rise hotel is being developed by Shamrock Development, Inc. as the anchor for the Capitol District upscale urban destination dining and entertainment district, located in a prime redevelopment area in the city's downtown. Marcus Hotels & Resorts will be a minority investor in the project and has provided pre-development and design programming for the project, and will provide technical consulting and pre-opening services during the construction phase. MCS Capital is The Marcus Corporation's hotel investment subsidiary.
"The Capitol District is going to be an exciting addition to downtown Omaha and we are very pleased to be selected to manage the project's anchor property. A number of factors came together to make the Capitol District Marriott an excellent opportunity for Marcus Hotels. We are also the majority owner and manager of The Cornhusker, a Marriott Hotel, in Lincoln, giving us a solid presence in Nebraska's two largest cities," said Joseph Khairallah, chief operating officer of Marcus Hotels & Resorts. "We look forward to bringing our more than 50 years of hotel expertise to the new Capitol District Marriott and to making it the premier hotel in downtown Omaha."
Khairallah noted that the company is already familiar with Omaha. "The Marcus Corporation's movie theatre division, Marcus Theatres®, entered the Omaha market in 2008 with the acquisition of Douglas Theatres and currently operates three Omaha movie theatres. We are investing in Omaha because it's a great market that builds on our Midwestern roots. We are excited about expanding our presence in Omaha and being part of this very special project that will create an even more vibrant downtown."
Michael T. Moylan, president of Shamrock Development, said, "We selected Marcus Hotels because of their extensive management expertise, but also because of the company's knowledge of the Nebraska market and strong relationship with Marriott. We look forward to developing a hotel that is the first choice for convention attendees, meeting planners and leisure travelers, as well as for the local residents who will enjoy experiencing the hotel's food and beverage outlets as part of the entire Capitol District."
In addition to the new hotel, plans for the $205 million Capitol District include 225 residential apartments, 140,000 square feet of Class A office space, and 90,000 square feet of high-end retail space for restaurants, shops and entertainment, all located around a master planned plaza. The project is located across the street from the CenturyLink Arena & Convention Center and TD Ameritrade Park, home of the NCAA College World Series. The Capitol District Marriott is part of the first phase of the project, however Shamrock expects the entire Capitol District to come on line at the same time in the spring of 2017.
For more information on the Capitol District, please visit: http://www.capitoldistrictomaha.com.
About Shamrock Development
Shamrock is a local real estate development company, founded by Omaha native Michael T. Moylan, CCIM. Shamrock specializes in creating downtown mixed-use developments. Recent projects include the historic renovation of The Barker Building at 15th & Farnam, the 1501 Jackson Apartments, restoration of The Paxton at 14th & Farnam Street, the 1000 Dodge Building at 10th and Dodge, and the 1009 Capitol Building. To learn more, please visit Shamrock Development at www.shamrockdevelopment.com.
(NYSE: MCS), owns and/or manages 19 hotels, resorts and other properties in 10 states. A force in the hospitality industry, Marcus Hotels & Resorts provides expertise in management, development and historic renovations. The company's portfolio includes a wide variety of properties including city-center meeting hotels, upscale resorts and branded first-class hotels.
Marcus Hotels & Resorts, a division of The Marcus Corporation
About The Marcus Corporation
Headquartered in Milwaukee, Wis., The Marcus Corporation is