COVID created challenges for many hotel companies, but some operators managed to turn those challenges into opportunities. One such company is Waterford, Connecticut-based Waterford Hotel Group, which spearheaded the recently completed transformation of the Hilton Hartford into a mixed-use development that includes both a hotel and premier apartment complex.
The new project—which now features the 170-room DoubleTree by Hilton Hartford Downtown as well as The Revel Apartments—officially opened in April. The $29 million redevelopment project brought together several entities, including Waterford, Hilton, RMS Companies, in addition to state and local politicians, to effectively transform the property.
The full-service Hilton Hartford was facing closure, in large part due to COVID-related revenue declines, according to Len Wolman, chairman/CEO, Waterford Hotel Group. He explained the motivation for the repositioning, noting, “We wanted to make sure the building didn’t go dark.”
Wolman added, “This project wasn’t just about saving an underperforming asset; it was about reimagining its potential. Through collaboration with RMS Companies, we’ve created a solution that caters to both travelers and residents.”
He continued, “This project’s success prevented a potentially devastating closure. Located next to the XL Center, a major entertainment hub, a shuttered building would have significantly impacted the city. Through collaboration with local, state, and federal partners, we were able to breathe new life into the property.”
The redevelopment converted the upper 11 floors of the hotel into 147 modern apartments. The lower floors were fully renovated and converted to the DoubleTree by Hilton. A key piece of the redevelopment plan was that each component has its own set of common areas, according to Wolman.
“This project transformed a single building into distinct experiences for two different audiences: hotel guests and apartment residents. Each group benefits from dedicated entrances and common areas. Upon arrival, clear signage guides guests to the DoubleTree entrance, featuring a welcoming lobby, restaurant access, and dedicated hotel elevators,” said Wolman.
The Revel Apartments were developed by Randy Salvatore, president and CEO of Stamford-based RMS Companies.
“We are excited to have been a part of this development, which serves as a model partnership involving the State of Connecticut, City of Hartford, Capital Region Development Authority, and the private sector to transform a dated building into a vibrant mixed-use property in the center of downtown Hartford. Looking ahead, I could not be more optimistic about Hartford’s future,” said Salvatore in a statement.
A critical piece of that future is Hartford’s XL Center, which is poised to receive additional funding for its revitalization thanks to a recently passed $370 million budget stabilization plan. The bill increases the amount of funding that can be contributed to a full-scale renovation from $80 million to $125 million.
Commitment to Revitalizing Hartford
For Waterford, the hybrid development was “a significant project,” said Wolman. The company has for years maintained a strong presence in the Hartford area, already managing the 409-room Hartford Marriott Downtown as well as the Connecticut Convention Center. The company first acquired the Hilton Hartford in 2004.
“This project exemplifies Waterford’s unwavering commitment to Hartford’s revitalization, a commitment that began over 25 years ago. Our partnership with the State of Connecticut on Adriaen’s Landing stands as a testament to this dedication. The project transformed a key area into a vibrant hub, encompassing the Connecticut Convention Center, Marriott Hartford Downtown, Connecticut Science Center, and the Front Street District with its apartments, retail, and University of Connecticut Hartford campus,” he said.
Given its heavy commitment to the city, it’s no surprise that Wolman emphasized the importance of the project economically, particularly as it relates to local employment. “This transformation not only saved existing hotel jobs, but also created new ones throughout the development, construction, and reopening phases. The DoubleTree by Hilton and The Revel Apartments represent a significant investment in Hartford’s economic well-being and its workforce,” he said.
Wolman also touted the company’s longstanding relationship with Hilton, who worked closely with Waterford to find solutions while rebranding and repositioning the property. “They have been a great partner for decades. … We’re thrilled to retain the Hilton name on it,” he said.
Group President Michael Heaton noted, “We took a negative and turned it into a positive.” He added, “It all came together well. We’re excited because DoubleTree is a good brand. Hilton is a good partner and the City and the State have been behind everything we’re doing. You need those hotel rooms to attract conventions to the city.”
For Waterford Hotel Group—a national management firm with some 30 hotels in its portfolio of major branded and independent hotels—the future is bright as well, according to Wolman.
“This innovative approach is a testament to Waterford’s growth strategy. We see mixed-use developments like this as a promising avenue for the future, and we’ll continue to explore similar projects,” he said.
