7/22/2015 North Hills developers announce plans for new AC , first in Carolinas - Triangle Business Journal

REAL ESTATE INC. North Hills developers announce plans for new AC Hotel, first in Carolinas

Jan 15, 2015, 3:02pm EST

Amanda Hoyle Staff Writer Triangle Business Journal Share 

North Hills hotel partners Concord Hospitality Enterprises  and Kane Realty Corp. are teaming up again to bring what will be one the first AC by Marriott properties in the U.S. to Raleigh's midtown.

The new AC Hotel, a 133-room select service property, is expected to open in 2016 next to the new North Hills Tower Two office building that is under construction at the corner of Six Forks and Dartmouth roads. Kane Realty C/O CONCORD HOSPITALITY ENTERPRISES AND PFVS ARCHITECTURE will also be breaking ground soon in a multi-story Rendering of the proposed AC Hotel Raleigh apartment project next to the AC Hotel. that is expected to open at North Hills in… more Raleigh-based Concord and Kane were also partners in the construction and development of the 223-room, full- service Renaissance Hotel that opened at North Hills in 2008 and the 137-room House extended-stay hotel that opened in 2013.

AC Hotels is one of the newest brands being introduced by (Nasdaq: MAR) in the U.S. after launching a joint venture with the European hotel brand in 2011.

The brand has more than 90 properties in , , and , but it has so far opened only one property in the U.S., the AC Hotel Bourbon in New Orleans that opened in November. Rates for a room at the New Orleans AC Hotel are running from about $190 to $350 per night.

Room rates for Renaissance Hotel at North Hills run from $189 to $500 per night.

Like Hotels' Aloft, AC Hotels is a select-service brand, meaning that it has a staffed lounge http://www.bizjournals.com/triangle/blog/real-estate/2015/01/north-hills-raleigh-nc-ac-hotels-marriott.html 1/13 7/22/2015 North Hills developers announce plans for new AC Hotel, first in Carolinas - Triangle Business Journal

with waiter service but no room service. It's focus will also be on contemporary design, style, technology and engaging communal spaces for travelers.

AC Hotel Raleigh will be one of more than 30 hotels set to open within the next three years throughout the U.S. and Latin America.

"We saw the potential for this project when we developed the Renaissance Raleigh/North Hills in 2008 and continued to share the vision when we built the Hyatt House hotel in 2013," stated Mark Laport, Concord's president and CEO, in a news release about the deal. "It is clear to us that this flourishing urban center can support and will benefit greatly from the addition of another well- respected Marriott brand that speaks to a slightly different demographic than the existing hotels."

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