April 13th, 2006
Wyndham hotel chain inks historic deal with St. Louis Black businessmen - Business - Wyndham International sells Mayfair Hotel, St. Louis, Missouri
Dallas-based hotel operator Wyndham International, Inc. recently sold its Mayfair Hotel in St. Louis to a Black-owned enterprise led by St. Louis businessmen Michael V. Roberts and Steven C. Roberts.
Under the purchase agreement, the Mayfair will remain in Wyndham’s portfolio through a 10-year management contract with the new owner, Roberts Mayfair Hotel, LLC. The deal marks Wyndham’s first partnership with a minority owner.
Located in downtown St. Louis, the 182-room Mayfair has more than 5,000 square feet of meeting space and features a swimming pool, a fitness center and restaurant. The hotel, which opened in 1925, unveiled the first rooftop swimming pool in 1961.
Founded by Michael V. Roberts and Steven C. Roberts, the Roberts Companies, a multi-faceted enterprise, is regarded as one of the top Black-owned businesses in the United States. The Roberts Companies comprises an aviation company, television broadcasting properties, a wireless communications company, real estate development entities, a construction management firm and most recently, Roberts Hotels, LLC, which will be the managing member of Roberts Mayfair Hotel, LLC.