High Point’s largest downtown hotel, recently rebranded as the High Point Plaza Hotel and Conference Center, continues to undergo an extensive interior refurbishment making it the city’s premier business and meetings destination. It regularly hosts visitors from the High Point Market, North Carolina's largest annual economic event bringing more than $1 million to the state's economy. The hotel also welcomed visitors from the recent High Point Cycling Classic, a national cycling event that draws large crowds to the city.
Under the direction of real estate investment and management organization Inner Circle US, the rebranding process has been a catalyst for the hotel to boost its business in the downtown core.
The property, located at 135 S. Main St, once operated under the Radisson and Best Western Plus flags. As the city’s only full-service, downtown hotel, the High Point Plaza is making additional investments in its meeting rooms and conference space to encourage increased business. New carpeting, furnishings, and updated multimedia equipment are part of the overhaul. With 252 guest rooms and 12,500 square feet of meeting space, the hotel can host local, regional, and national events.
Inner Circle US is an Orlando, Fla.-based real estate investment and management organization that specializes in the acquisition and turnaround of distressed hotel and resort assets. For the past two decades, the company and its principals have acquired 76 hotel and resort properties around the country.
Unique to the deal is the fact that Inner Circle US both invests in and continually manages the hotel. Unlike other acquisition companies that purchase distressed properties and hire a different organization to manage them, Inner Circle US handles everything, which the company says has been the key to its success.
“We believe in the potential that this downtown hotel can provide to the city of High Point,” said Stephen Nalley, managing partner of Inner Circle US. “It is important for us to only invest in properties where we believe we can create a significant level of success. We will manage the property ourselves, which gives us the flexibility and possibility to make adjustments according to market demand ourselves. This type of arrangement will suit both the hotel and the city extremely well.”
Nalley acknowledges the tremendous potential that exists with the High Point Market, High Point University, area businesses, and other North Carolina events. But, he also believes in the ability of the hotel to attract convention and social function business to the city’s downtown.
Another unique feature of the property is its Joke Factory Comedy Club, which brings in nationally recognized stand-up acts and comedians in addition to hosting a weekly open-mic night.
The hotel's revitalization comes at a key time as the city continues to revitalize its downtown core and develop an uptown area with small businesses including shopping and dining opportunities.