A joint venture of hotel investors Ohio-based RockBridge Capital LLC and North Carolina-based Concord Hospitality Enterprises today announced it has acquired the 167-room Renaissance Meadowlands Hotel, in Rutherford, for an undisclosed amount, though it said the property will undergo a $5.25 million major renovation.
Both companies have a history with the hotel, as Concord developed it in 2000 and managed it through two subsequent ownership changes, and RockBridge provided mortgage financing for the hotel upon its opening.