Concord Hospitality Enterprises, the Raleigh hotel operator that owns the Renaissance Hotel at North Hills, is relocating to a Wakefield office building that it acquired earlier this year.
The company announced today that by Christmas it expects to have moved all of its 95 employees to a 32,000-square-foot headquarters near the intersection of New Falls of Neuse Road and Capital Boulevard.
The company paid $2.5 million for the Wakefield building in January, and is spending another $4 million renovating it.
Concord, which sold 20 hotels at the top of the market in 2007 for $440 million, is one of the few firms that continued to move forward with projects despite the downturn.
The company is in the process of turning the landmark McPherson Hospital in Durham into a 146-room extended-stay Residence Inn by Marriott. That project is expected to break ground sometime early next year.
Concord also hopes to move ahead soon on an extended-stay Hyatt Summerfield Suites to be located on the east side of Six Forks Road in North Hills.