Albany HGI Management Company Takes Over Augusta's Historic Partridge Inn
Monday, August 25th, 2014
An Augusta landmark on Walton Way in the Summerville district, the historic Partridge Inn is under new ownership and receiving a facelift. Built in 1892 as a private residence and opened in 1910 as a hotel, it has had its high times and low years. After former owners, Walton Way, LLC bought the property for $8.1 million in 2005, they initiated a $5.8 million project to renovate it. The corporation later defaulted on a $16 million loan in 2011. The hotel was subsequently purchased for $14 million by Walton Way Limited Partnership. It was listed for online auction in April of this year. The starting bid on Auction.com for The Partridge Inn, which reported $3.9 million in total revenue for 2013, was set at $2 million.
In June, Partridge Inn Holdings, LLC won the auction with a top bid of $4.25 million. Partridge Inn Holdings took official ownership of the hotel on August 18. “This hotel represents an investment not just in the physical property, but in Augusta’s bright future as well. The hotel’s excellent location, storied history, and architectural charm make it poised to reclaim its place as the city’s premier lodging and special events destination,” says Greg Winey, president of NorthPointe Hospitality Management, LLC, the management company responsible for hotel operations.
Winey says, “We’re excited to be working with The Partridge Inn and to have the opportunity to bring this historic property back to its glory days.” Several expansions between 1910 and 1929 enlarged the facility to take up the full block. Following the threat of demolition in 1978, it was restored and re-opened in 1987, once again becoming a focal point of social activity on The Hill. The hotel, comprised of 144 rooms and suites, a quarter-mile of verandahs and balconies, a restaurant, an outdoor pool, an exercise room, and 8,000 square-feet of meeting space, last underwent a makeover in 2006. NorthPointe will oversee an extensive $6 million renovation of the guestrooms, public spaces and event spaces beginning in November 2014 and slated for completion in February 2015. Some structural and cosmetic work will begin immediately. With a vision for elevating The Partridge Inn to a four diamond hotel, ownership is currently exploring brands with which to potentially affiliate.
Managing partner of Partridge Inn Holdings, LLC, Rick Patton, was part of Walton Way, LLC that previously owned The Partridge Inn. He’s thrilled to once again be associated with the property. He says, “I am so gratified to have the opportunity to return to the hotel and finish what we had hoped to complete in 2006. With both ownership and management responsibilities, we are vested in the success of The Partridge Inn and are here to see it through for the long run.”
Interruption of operations is expected between now and March 2015, when The Partridge Inn will be up and running again in time for the Augusta National’s Masters Tournament. NorthPointe has announced that The Partridge Inn Bar and Grill will temporarily operate on a new dining schedule, serving only breakfast, dinner and their famous Sunday Brunch. Augustans are assured that the results of the project will do the century old dame and the city justice. The six-month wait will be worth it. Winey says, “We look forward to returning The Partridge Inn to its proper standing as Augusta’s icon of Southern hospitality and a market leader.”