The Thrash Group Announces Hotel Tupelo06/01/2020
The Tupelo Redevelopment Agency (TRA) and the City of Tupelo are excited about the opportunity to partner with the Thrash Group, LLC, a hotel development group based in Hattiesburg, Mississippi, on a boutique hotel in downtown Tupelo. The Thrash Group is a national boutique hotel developer with current projects in Austin, Texas; Golden, Colorado; Lexington, Kentucky; and Raleigh, North Carolina.
“We are grateful to the Thrash Group for sharing in our vision to grow and expand amenities offered in Downtown Tupelo,” said Mayor Jason Shelton. “For numerous years, this type of hotel has been requested by many of our existing businesses that want to provide a unique hotel experience for their customers and clients. I know our community and the many visitors to Tupelo will see that this hotel complements what we have going on here very well. We are thrilled that the Thrash Group has chosen Tupelo for its next boutique hotel destination.”
A boutique hotel is a smaller property that is individually branded with its own personality. These hotels are typically located in a unique setting, with upscale yet inviting accommodations. Hotel Tupelo will be a four-story 80 room hotel which will include a potential local restaurant concept along with ample meeting room space. The hotel will include two suites facing Main Street. The Thrash Group’s architect, Sarah Newton, has worked on multiple historical projects throughout Mississippi; Hotel Tupelo will incorporate nods to Tupelo’s history while maintaining a modern and upscale feel.
“This has become the better part of a $16 million investment,” said Walker Thrash, partner at the Thrash Group. “The hotel is meant to also be a place for people to gather that live in Tupelo and our hope would be at some point we hit that perfect intersection between a place for people to come visit but also a place for people to connect that live here…We couldn’t be any more thrilled to do a product like this in a city that is blossoming like Tupelo has in the last 10 years, this Main Street area, in our home state.”
“I’d also like to thank Mayor Shelton and the City Council for partnering with Tupelo Redevelopment Agency and CDF for assisting in bringing all these players to the table for this exciting Hotel Tupelo project,” said TRA Chairman Reed Hillen. “Thanks to the city leadership’s engagement in our downtown activities for over 15 years, we’ve experienced over $130 million in development in the Fairpark district alone.”
In an effort to provide adequate parking needed for the hotel, as well as the other surrounding businesses, the City and TRA will be creating a new parking lot behind Mugshots and the Renasant Center for IDEAs. The Thrash Group plans to complete this hotel project by Christmas 2021.
About the Thrash Group:
The Thrash Group offers strategic value to our stakeholders and to the communities in which we operate. We gain a quantifiable advantage by assembling a focused group of talented developers, designers, contractors, underwriters, and managers that have a common interest in the outcome of every project. Constant education and clear organization are at the center of our efforts. Each person and company working independently within our offices brings a distinct and appreciated viewpoint, and each team member is empowered to make decisions within their field of expertise. We communicate constantly, discuss openly and make decisions quickly. These beliefs, along with a firm commitment to hard work and sound investment strategies, produce successful real estate developments across the United States. https://www.thethrashgroup.com
About the Community Development Foundation: Founded in 1948, the Community Development Foundation (CDF) is the exclusive agency charged with providing chamber of commerce, economic development and planning and property management services for Tupelo/Lee County, Mississippi. CDF is a nonprofit membership organization composed of civic, business, and professional leaders representing the region. CDF has been selected ten times as one of the top 10 industrial development agencies in the nation by Site Selection magazine, a leading trade magazine for industrial development consultants.