By Alexis Hosticka
SHG Management, LLC, of Sherwood, Arkansas, purchased the Legacy Hotel in downtown Little Rock for $2.85M with plans to spend another $5M in renovations.
The hotel, originally named Hotel Freiderica, opened in 1914, and in 2003 was added to the National Register of Historic Places.
Director of operations for SHG Management Kishan Patel said the group decided to purchase the hotel due to its history and location, with plans to use the hotel’s original name after renovations are complete.
“I think most of the partners were pretty convinced that it’s a nice old property with a lot of historic value to it,” Kishan Patel said.
The new owners see downtown Little Rock growing and becoming a hub for business – citing the Little Rock Technology Park, the first phase of which is scheduled to open early next year.
Renovations on the 65,000-SF building are set to begin in October and wrap up in April. The hotel will remain open throughout the multi-phase construction process. Kishan Patel said the building will undergo major cosmetic renovations but structurally will remain the same. It will be styled and designed as a “boutique” hotel, he said.
Plans include new colors on the building’s exterior and a facelift of the bar, kitchen and restaurant, which the new owners plan to lease. The lobby will retain its marble floors and dark wood trim.
The hotel will operate under the Choice Hotels flag. Kishan Patel said the hotel will be part of Choice’s Ascend Hotel Collection, which is made up of “one-of-a-kind, upscale hotels.”