Bellefield Development Partners/the Shaner Hotel Group Joint Venture Awarded Franchise Agreement For The First Hotel At Bellefield, Hyde Park, N.Y.
Franchise agreement will bring needed luxury accommodations to Dutchess County
Hyde Park, N.Y. -- A joint venture comprised of Bellefield Development Partners, an affiliate of T-Rex Capital Group LLC, and its partner, The Shaner Hotel Group, one of the hospitality industry's leading owner-operators of full- and select-service hotels, today announced that it has been awarded a Marriott International Franchise Agreement for a 133-room soft branded Residence Inn in Hyde Park, N.Y. The Hotel at Bellefield will be the initial vertical construction at the site located at the gateway to Historic Hyde Park, across from the Culinary Institute of America on Route 9 in Dutchess County.
"We couldn't be more excited with Marriott International's approval and support," said 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. I'm thrilled to partner with The Shaner Hotel Group and Marriott International and look forward to day one of construction."
"We continue to seek well-branded hotels in markets with barriers to new development," said Lance Shaner, chief executive officer, The Shaner Hotel Group. "Hyde Park is establishing itself as a world-class gastronomic location, and the Hotel at Bellefield will cater to guests who desire the quality and consistency of a Marriott-flagged hotel mixed with the casual atmosphere and relaxed environment of an independent-minded property. We are confident the hotel will appeal to business and leisure travelers alike."
"To have The Shaner Hotel Group and Marriott International as partners with us will be a game changer for Bellefield at Historic Hyde and for the region," said Mike Oates, managing partner, Bellefield Development Partners. "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. 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."
"Great news! Hyde Park is more than pleased to welcome a Marriott Hotel to our community," said Hyde Park Superior Aileen Rohr. "With our world class tourism destinations and premier location in the Hudson Valley, the hotel will add great dimension to the hospitality options for our county, contribute to the local tax base and provide local jobs."
"Dutchess County is thrilled to see Marriott International award a franchise agreement to the Hotel at Bellefield," said Dutchess County Executive Marcus Molinaro. "Bellefield at Historic Hyde Park is an important addition to our county's culinary and tourism destinations. The Hotel at Bellefield will help create jobs, attract investment and provide needed lodging for our visitors to Dutchess County. Tom Mulroy and his partners have an exciting vision for Bellefield, and this partnership is a big part of that. I look forward to continuing to help and support this project."
"Dutchess Tourism is excited that the soon-to-be Hotel at Bellefield will break ground and carry a Marriott brand," said Mary Kay Vrba, president, Dutchess Tourism. "Tourism to Dutchess County saw a 7.6 increase in 2016, and to have additional rooms across from The Culinary Institute of America would enhance our visitors experience."
About Bellefield at Historic Hyde Park:
Bellefield at Historic Hyde Park is a $500 million dollar tourism destination proposed for development on Route 9 across from The Culinary Institute of America (CIA). Initial plans call for development of two hotels, a conference center, a freestanding signature restaurant, a spa, and culinary-based retail establishments. 58% of the site's 339 acres will remain wooded and undeveloped with another 48 acres devoted to agricultural use to preserve the natural beauty of the site. Governor Cuomo's Mid-Hudson Regional Council has selected Bellefield at Historic Hyde Park as a "Priority Project". For real estate inquiries: [email protected].
About T-Rex Capital Group LLC:
T-Rex Capital Group LLC is an experienced privately held real estate firm. T-Rex has sourced and invested in proprietary transactions encompassing more than 11 million square feet with a gross asset value of over $2.5 billion. Its key executives average over 25 years of experience with more than $7 billion of investing and development experience. For more information, visit www.TrexCapitalGroup.com.
About Shaner Hotel Group
Shaner Hotel Group is one of the foremost owner-operator companies in the hospitality industry with more than 60 hotel properties owned and managed across the U.S., Italy, Cyprus and the Bahamas. New properties are constantly evaluated as The Shaner Hotel Group continues a conservative, yet opportunistic approach to growth. Shaner is an approved management company and franchisee of Marriott International, Inc., Hilton Hotels Corporation, Intercontinental Hotels Group, and Choice Hotels. For more information about the company and its divisions visit www.shanercorp.com.