Partner group will also fund multi-million-dollar hotel renovation
OKLAHOMA CITY (Dec. 16, 2022) Ortus Hotel Investments, LLC of Oklahoma City and Sovereign Properties Holdco, LLC, a business entity of the Chickasaw Nation, in conjunction with Paul Self, lead investor of the Colcord Hotel, and other local investors announced today they have purchased the historic Skirvin Hotel in downtown Oklahoma City.
Ortus Hotel Investments, LLC is led by local real estate entrepreneurs Mark Beffort, Andy Burnett, Matthew Benjamin and team dedicated to the hospitality industry. Ortus manages a robust portfolio of hotels located throughout the United States, including the Colcord Hotel, a Hilton Curio Collection property also located in downtown Oklahoma City. Ortus will serve as general partner and has secured financing from Bancfirst for a portion of the purchase price as well as for a $15 million make over and renovation.
"The Skirvin Hilton is one of Oklahoma City’s most beloved historic places as many residents and visitors know its storied past and have followed its revitalization and reopening in 2007. We believe our investment fits hand-in-glove with our OKANA project just east of downtown.”" said Bill Anoatubby, Governor of the Chickasaw Nation., "We appreciate the opportunity to partner on this project with Mark Beffort who is well-respected in this arena and has a proven record of sound investments in historic and commercial properties.”
“Ortus is pleased to be joined by Sovereign Properties Holdco and the Chickasaw Nation in local ownership of the landmark Skirvin Hotel,” Mark Beffort, CEO of Ortus Hotel Investments, LLC. “Prior to the pandemic, the Skirvin performed well, and it has returned to a relatively strong occupancy rate in 2022. We are honored to be trusted caring for one of Oklahoma City’s finest historical assets.”
A key part of the investment is a comprehensive refresh of the guest rooms, banquet and meeting spaces and restaurant as well as the iconic lobby. public space and ballrooms beginning next year. The hotel will remain open and operational throughout the renovation period.
The historic 225‐room Skirvin Hotel is one of the top hotels in the central business district of Oklahoma City and will be managed by the Hilton Domestic Operating Company Inc. Originally built in 1910, the historic Skirvin Hotel has been serving guests for over a century. The oldest hotel in the state of Oklahoma was restored to its former grandeur after a restoration and reinvestment of more than $60 million dollars completed in 2007. A distinguishing factor of the Skirvin is its over 18,000 square feet of meeting space.
Its location, at the center of Oklahoma City, is experiencing activity with recently announced luxury residential housing at the original BancFirst headquarters and 100 Park Ave by Richard Tanenbaum, the investment and remodel of the BancFirst Tower by BancFirst, and sale of the former Sandridge building to the State of Oklahoma. These and many other ongoing and upcoming projects in the downtown area will provide additional opportunities for Skirvin to maintain its prominence for years to come.
About Ortus Hotel Investments, LLC
Ortus Hotel Investments, LLC, is a privately held real estate investment and development company focused on attracting long-term individual, corporate and institutional partners and developing hotel destinations across the United States. Founded in 2020 and based in Oklahoma City, OK, the OHI team of seasoned real estate professionals follow a thorough search, evaluation and selection process and then execute strategic management over all stages of development and ongoing operations to improve their competitiveness in high-quality hospitality markets.
About Sovereign Properties Holdco, LLC
Founded in 2012, Sovereign Properties Holdco, LLC, (SPH) is a business subsidiary and investment vehicle wholly owned by the Chickasaw Nation, which is headquartered in Ada, Oklahoma. While the Oklahoma City-based firm primarily seeks to invest in the commercial and multi-use real estate sectors, SPH’s investment focus also extends to development projects in various other asset classes. The company’s overall investment plan is designed and managed to support the economic diversification strategy of the Chickasaw Nation Department of Commerce.