US hotel investment firm RockBridge is to make a preferred equity investment to recapitalise and reposition the Wynfrey Hotel in Birmingham, Alabama, US.

The 329-room property will undergo a multi-million dollar renovation and will be reflagged as The Hyatt Regency Birmingham – The Wynfrey Hotel. The renovation will begin in the third quarter of 2012 and will be complete by March 2013.

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The hotel will offer 32,000ft2 of meeting space, high-speed internet access, a fitness centre, a business centre and multiple dining options including Shula’s Steak House. The upgrades include an enhanced exterior facade, renovation of all public areas, including the fitness centre, the outdoor swimming pool and meeting space, and refurbishing the guestrooms with upgraded bedding and a comprehensive soft and case goods package.

Hotel management company Davidson Hotels & Resorts has managed the Wynfrey Hotel since 2009 and facilitated the transaction and branding on behalf of ownership.

Davidson CEO Patrick Lupsha said that the company plans to market the new Hyatt Regency as Birmingham’s upper upscale property. Ownership of the Wynfrey Hotel will be retained by its developer Jim Wilson & Associates, a real estate company.

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Rockbridge president and CEO James T Merkel said the preferred equity investment represents an opportunity for the company to reposition, renovate and rebrand a quality asset with considerable upside potential. RockBridge has invested nearly $3bn in the hospitality industry as part of a $5bn transaction capitalisation.

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