updated: 6/11/2013 1:52:09 PM
The Canterbury Hotel in downtown Indianapolis has been acquired by Ohio-based RockBridge Capital LLC. The historic hotel had been owned by Indianapolis entrepreneur Turner Woodard, who hopes the deal will help his vision for the property develop more quickly. He outlined that vision during a Studio(i) interview shortly after he acquired the hotel in 2010.
June 11, 2013
INDIANAPOLIS, Ind. - It is with mixed emotions that Turner Woodard and his family announce today they are passing ownership of the iconic 99-room Historic Canterbury Hotel to RockBridge, an integrated hotel investment firm.
Known as an Indianapolis entrepreneur and investor, Woodard became owner of the Canterbury in 2010. "The Canterbury is a special place in the City of Indianapolis and always has been" says Woodard. "We are proud of the many improvements we've been able to make at the Canterbury over the last several years to re-energize the spirit and appreciation for the hotel. I believe these changes created an attractive investment opportunity that the RockBridge group recognized. I am hopeful that by passing the torch to RockBridge, our family's vision will be fulfilled a bit more quickly benefiting our vibrant Indianapolis downtown market!"
Over the last three years, Woodard succeeded in bringing back the personal charm and comfort of the Historic Canterbury Hotel. "My family and I would like to take this opportunity to thank our many patrons, guests and friends for their wonderful support. It was inspiring to see how many people supported our efforts at the hotel. Our expression of thanks is not just words on a page. We sincerely appreciated every overnight stay, every dinner, every company meeting and every event. These expressions of support for our Canterbury project will be forever remembered! We now look forward to the changes via investments RockBridge will make for the benefit of the Canterbury and its many wonderful employees," says Woodard.
RockBridge is an integrated hotel investment firm that has executed on over 300 hotel investments in the United States over the past two decades. Since 1992, RockBridge's team has invested nearly $3 billion in the hospitality industry as part of approximately $5 billion of total transaction capitalization. The principals of RockBridge have formed and managed nine hospitality-focused debt and equity investment funds across multiple platforms with predominantly institutional investors. For additional information about RockBridge, visit www.rockbridgecapital.com.
Source: The Turner Woodard Family