Peabody Hotels to Sell Little Rock, Ark., Property

The largest hotel in Arkansas could be changing owners and brands. Peabody Hotel Group, a division of Belz Enterprises of Memphis, Tenn., has signed an agreement to sell the 440-room The Peabody Little Rock hotel to Fairwood Capital, a Memphis-based real estate investment firm. Little Rock officials still must approve the sale because the city leases the location. The buyer intends to make substantial renovations and is in talks with hotel companies about a new brand for the hotel, which should be determined within the next month. The hotel has 44,000 sq. ft. of meeting space. There is no word on what the sale would mean for the hotel’s most famous residents, the Little Rock contingent of the world-renowned Peabody Ducks, who march through the lobby twice daily. usatoday.com