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
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.