COLUMBIA, S.C. – A long time landmark in downtown Columbia, The Hotel Columbia, will soon carry a new look and new name—Marriott. The hotel was purchased in December of 2003 through a joint venture with Morgan Stanley Real Estate Fund (MSREF) and Pyramid Advisors LLC, a full-service hotel company that owns and manages hotels and hotel construction/renovation projects.

Representatives from Pyramid Advisors LLC stated the company would oversee an estimated ten million dollar renovation and conversion of the hotel to a Marriott. The project, which includes remodeling and upgrading the hotel’s 303 guestrooms and suites as well as the fitness room, restaurant and lobby areas, is slated for completion in early 2005.

“We’re thrilled with renovation plans and proud to be a part of the exciting growth that is going on in the downtown area,” said Don Bomer, new general manager for the hotel. “We look forward to providing our guests with the ultimate Marriott experience – one that provides the most sophisticated and comprehensive facilities for both leisure and business travelers – while reinforcing the vibrancy, charm and hospitality of downtown Columbia. In addition, we believe the national reputation of Marriott and the level of service that is delivered will fill a void in the Columbia market for individuals looking for a full service, upscale, business class hotel. ”

“Having a major national brand like Marriott added to our hospitality community will be a tremendous asset,” said Mayor Bob Coble. “This is just another step in the exciting revitalization of downtown Columbia and we could not be happier.”

In addition to the renovation and upgrade to all 303 guestrooms and suites, the hotel plans to add 11 new two-bedroom suites, a business center and a concierge lounge. Guest rooms will be bright and airy and feature designs emanating southern hospitality and art work featuring Columbia and the surrounding areas. In addition there will be a full renovation and upgrade to the entrance, lobby, restaurant and lounge. Other additions include the installation of Wireless High Speed Internet and upgrades to the pool and fitness facilities. Additionally the hotel is underway with discussions with the University of South Carolina to create and donate an “Alumni Lounge” for the explicit use of the University. “In addition to the business core of Columbia we want to recognize the importance of the University to the City and the State and want our hotel to be the University’s home away from home” said Steve Williams Director of Sales & Marketing. “Our goal is to be the hotel community leader of Columbia and this is just another example of our commitment to the community”

The Columbia hotel was one of the key assets purchased by Pyramid Advisors. “This is a fantastic location and Columbia is a wonderful market,” said Warren Fields, chief investment officer for Pyramid Advisors. “We believe bringing Marriott back to downtown Columbia represents an excellent opportunity for our company and for the city. The Marriott name is synonymous with quality and service and this property will give visitors an exciting new option when considering where to stay in Columbia. We already have a first rate staff and we’re confident that our experience in renovating, repositioning and maximizing the operations of large, full-service hotels will only strengthen the future of this hotel. We are committed to providing a top-notch facility that benefits both residents and visitors of the community.”

The joint venture between Pyramid Advisors and MSREF led to the acquisition of eight Adam's Mark hotels comprising 2,887 rooms from St. Louis, Mo.-based HBE Corporation for $236 million.