A Mississippi development company with hotels, restaurants, condominiums, retail offices and apartment communities and town homes across the country purchased the historic Hotel Morgan in downtown Morgantown.
Ike Thrash, founding partner and managing director of Thrash Group, based in Hattiesburg, Miss., said the Hotel Morgan, which opened for business in 1925, will be renovated with the goal of bringing the hotel back to its former grandeur.
“What’s old is new again,” said Thrash, who paid $2.5 million for the building and will likely be spending — he said — five times that amount on its renovations. He said he was able to make the purchase and renovation work happen through the use of tax credits.
Hotel Morgan has been a popular site for weddings and banquets because of its two-story ballroom for years. The hotel was last renovated in 1999 by the Brant family, which had owned it since 1997 until selling it to the Thrash Group in November.
Thrash said he has been aware that the hotel had been for sale for a while and discussions had been underway between the two sides for two-and-a-half years.
“I’ve done a lot of boutique hotels,” said Thrash, adding the “new” Hotel Morgan will have 83 rooms, plus two suites.
“This is a beautiful, old building,” he said.
In an artist rendering that Thrash shared with The Dominion Post, the front doors of the High Street hotel will be red, while the check-in area will feature dark woods and a mosaic-style floor. The first floor will also feature a bakery and bar, a general store and sundries shop and a specialty coffees area.
The staircase has an 800-pound chandelier while the lobby area includes three private phone booths and a reading area. The ballroom will be renovated and will include a ceiling that has fleur-de-lis designs.
In addition, there will be meeting rooms and a barber shop, a fitness room and a yoga studio. The rooms will start on the third floor and will feature walnut furniture and luxury linens. There will be a rooftop bar with greenery and a “casual outdoor vibe,” according to the plans.
Thrash said the hotel restaurant concept is still being tweaked.
The hotel, named after city founder Zackquill Morgan, hosted Eleanor Roosevelt in 1934, President Harry Truman in 1954 and was a campaign stop for John F. Kennedy in 1960.
Thrash hotel and mixed-use and residential projects can be found in Colorado; Texas; Florida; Raleigh, N.C.; Memphis, Tenn.; Lexington, Ky.; Mobile, Ala.; and Fort Smith, Ark.
“I like university markets,” he said.
The hotel has been shuttered since last summer and a liquidation sale of its furnishings was held in November. A wire fence stands in front of the entrance as construction crews go in and out of the building.
Thrash said ideally he would like to have renovations completed and be open for business by the end of this year.
“We’re definitely going to try,” he said.
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