In what is viewed as a quick acquisition, the 80-year old Edison Walthall Hotel, located at 225 East Capital Street, Jackson, Miss., was recently sold.
During a 11 a.m. press conference Tuesday, Aug. 12, Michael V. Roberts, Sr., CEO of the Roberts Companies and its subsidiary, Robert Hotels Group, announced the purchase of the hotel. The 208-room; 23-suite facility was purchased for nearly $4 million.
“We’ve been looking at this hotel for a number of years,” said Roberts. The Company has six million square feet of various office space around the country. He said his company propose to create for the city [with this purchase] the type of environment citizens would be proud to invite people to for accommodations as well as reunions and other major event.
He also pointed out that the hotel will be very viable to the upcoming convention complex, which will attract a multitude of guests to the capital city.
Mississippi has sentimental values to Roberts. It is where he and his brother Steven, who is his partner, have strong family routes. “My grandfather, at the turn of the century, was born and lived in West Point, Miss.”
The hotel is the third acquisition the company has in Jackson. The company also owns WRBJ-Channel 34 and WRJB-FM in the metro area.
The company plans to spend $10 million on renovations and change the property’s name to Roberts Vista Hotel.
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