Arlington Hotel in Hot Springs sold to Little Rock investors | Arkansas Blog

Monday, July 10, 2017

Arlington Hotel in Hot Springs sold to Little Rock investors

Posted By on Mon, Jul 10, 2017 at 3:43 PM

click to enlarge NEW OWNER: Arlington Hotel gets a buyer.
  • NEW OWNER: Arlington Hotel gets a buyer.
click to enlarge AL RAJABI: Leads hotel investors. - LINKEDIN
  • LinkedIn
  • AL RAJABI: Leads hotel investors.
Hot Springs' historic Arlington Hotel has been sold to the Sky Capital Group LP, an investment group whose properties include the Four Points Sheraton at University Avenue and I-630 in Little Rock and which is related to an investor with other hotel properties in Texas.

Opened in 1924, the property has been owned by Southwest Hotels, but has deteriorated in recent years, to the point that it faced city safety enforcement action before some corrective work began last year. A sale of the property, owned by the Scott family, was discussed at that time.

Al Rajabi is CEO of Sky Capital. He posted on a LinkedIn account, which gives his home as San Antonio:

Here it is my Friends!!!! I'm very excited about my latest project!!!! The Arlington Resort Hotel and Spa. Hot Springs Arkansas are you ready??? 
No price was disclosed, but Arkansas Business, citing real estate documents, put the price at $5 million. Rajabi's release said he was attracted by the "rich history" and "iconic location." It referred to "continuing renovations" and said the company would work to "maintain it as one of the great American grand hotels."

Grady Manning founded Southwest Hotels in 1929. The Arlington has 478 rooms and resort facilities, as well as a bathhouse.

The hotel's current general manager, Bob Martorana, is quoted as praising the deal.

Rajabi bought the hotel he now operates as a Sheraton out of foreclosure for $5 million in 2014. He said on his LinkedIn page that it's now enjoying 95 percent occupancy.

The transaction includes the Wade Clinic building, a four-story adjacent building to the north, and the parking garage and the Majestic parking lot across from the Majestic hotel, Martorana told me.

Martorana said he'd be remaining as general manager and about 90 percent of the staff will remain. "It's business as usual until we but a game plan together." He said he anticipated some major renovations, but deferred questions on those specifics, both amount and timeline, to Rajabi.

Tags: , , ,

Sign up for the Daily Update email

Comments (8)

Showing 1-8 of 8

Add a comment

Subscribe to this thread:
Showing 1-8 of 8

Add a comment

More by Max Brantley

  • The Mondo Trumpe open line

    A world of the dogs? Check out Trump's latest poll ratings.
    • Jul 22, 2018
  • University pay ranking puts UA System chief at 57

    The Chronicle of Higher Education recently released its survey of pay of top public and private university leaders in 2016-17. Donald Bobbitt, president of the University of Arkansas System, checked in at No. 57 on the list of 251 public university leaders.
    • Jul 22, 2018
  • Winds, race and an open line

    The open line includes power outages, Republicans and racism.
    • Jul 21, 2018
  • More »

Readers also liked…

Most Viewed

Most Recent Comments

  • Re: The Mondo Trumpe open line

    • Me neither .

    • on July 22, 2018
  • Re: The Mondo Trumpe open line

    • No thanks, Stu/Razor. I just don't care to associate with you and those people.

    • on July 22, 2018
  • Re: The Mondo Trumpe open line

    • Stuff that fascinates me:… BOGOTA, COLOMBIA Sitting at the bottom of the ocean, just…

    • on July 22, 2018



© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation