March 19–Turkey Creek Hospitality this week completed its purchase of the former Greyhound bus station Downtown for its plans to build a 140-room Hilton Garden Inn there.
The Knoxville-based company paid $1.67 million to Greyhound Lines for the 1.4-acre property.
The development at 195 Union is to be a multifaceted structure serving both businesses and leisure travelers.
The site is in the center of Downtown Memphis’ sports and entertainment district, directly across from AutoZone Park.
Hank Martin and Elliot Embry with NAI Saig Company represented Greyhound Lines, Inc. The developer expects to open The Hilton Garden Inn Memphis Downtown in May 2016.
“By working with Turkey Creek Hospitality, we will bring our brand of upscale, yet affordable hotels to travelers experiencing the musical flavor and energy of the Bluff City,” Adrian Kurre, global head at Hilton Garden Inn, said in a prepared statement.
Hilton granting a license does not necessarily mean a hotel will be built.
Hilton has previously announced licensing for two other Downtown hotels that have not materialized: A 300-room Hilton at Fourth and Linden, across from FedExForum; and a 118-room Hilton Garden Inn at Second and Linden, for which a groundbreaking was held five years ago.
But completion of the property sale makes development more likely, indicated Kevin Kane, Memphis Convention & Visitors Bureau president.
“Once somebody buys the real estate, obviously it’s highly unlikely that they back out,” Kane said.
“I think that Hilton Garden Inn is a quality product and it will be a good addition to Downtown. “Will it be a game-changer as far as conventions and meetings? I don’t think so.”
The hotel would be owned and managed by Turkey Creek Hospitality. Turkey Creek owns five properties in Knoxville, which include a Holiday Inn Express and a Hampton Inn, also a Hilton brand.
Turkey Creek Hospitality also acquired 235 Union Avenue in September and plans to develop a 115-room Holiday Inn Express at that site. Site plans and renderings of the two developments are still in the works.
Nitinkumar ‘Nick’ Patel, a partner with Turkey Creek Hospitality, states in prepared remarks that Memphis has always been a target market the company wanted to be in.
“We have worked over a year on this project and now we have two great locations for two great hotel brands,” Patel said. “I am excited about the opportunity to work with the City of Memphis and the Downtown Memphis Commission to bring a high impact urban project that will add greatly to the mission of a vibrant downtown.”
Patel added, “We are looking to make a good, positive change for Downtown Memphis.”
