Adams Mark Hotel to become Hilton affiliate

MEMPHIS -- A joint venture deal consisting of an an affiliate of Dallas-based Crow Holdings and Wilton D. Hill, president of the Memphis-based Davidson Hotel Co. purchased the Adams Mark Hotel in Memphis.

Davidson Hotel Co. will assuming all management responsibilities for the hotel, which will be known as the Park Vista Memphis, a Hilton affiliate hotel.

In addition to managing the property, Davidson will oversee the investment by the joint venture, known as CHD Memphis I, L.L.C, of approximately $12 million.

Funds will go towards renovations and upgrades, which are expected to be completed by spring 2004. Upon completion, the hotel will become the Hilton Memphis.

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