Pinnacle Group Bringing Hilton Garden to Downtown Little Rock

by George Waldon  on Monday, Dec. 2, 2013 12:00 am  

He made his first hotel investment in 1997 with a Hampton Inn in Conway and later followed that with his first development: a Comfort Inn in North Little Rock.

Nagin’s brand relationships were important door-openers that facilitated the formation of Pinnacle Hotel Group. The first joint venture by the PHG families began in 2001.

“Everyone kind of did their own things until then,” Chet Patel said. “The whole idea is to bring in economies of scale and bring the whole thing to another level.”

The Country Inn & Suites in Fayetteville opened in 2003 and was rebranded as a Comfort Inn Suites in 2011.

“It was quite an experience,” said Shawn Govind. “It was our first big deal.”

Bigger deals followed and culminated in the 120-room Hilton Garden Inn at 4100 Glover Lane in North Little Rock. The company’s first full-service project was sold in August for $13.1 million.

For now, PHG’s flagship property is the Holiday Inn at 10920 Financial Centre Parkway in west Little Rock. The previously unbranded project underwent a nearly $5 million renovation that transformed it and introduced a new Holiday Inn look to the market.

The Hilton Garden Inn in downtown Little Rock will supplant it as the group’s signature project.

Among the early chores needed to make the hotel happen is relocating the on-site utilities underground.

Patel said the market conditions are ripe to expand and upgrade PHG’s holdings.

“Lending is starting to become a little more flexible,” he said.

 

 

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