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Vision Hospitality restoring historic Grady Hotel in Louisville, KY

The hotel’s structure, built in 1883, is scheduled to open in 2021

WORK HAS BEGUN on reconstructing The Grady Hotel in Louisville, Kentucky, another luxury boutique hotel being developed by Chattanooga, Tennessee-based Vision Hospitality Group, led by Mitch Patel, president and CEO. It is scheduled for completion in 2021.

The 51-room hotel is name for Grady Clay, a local journalist and proponent of the New Urbanism movement that focuses on the development of walkable communities. It was built in 1883 by pharmacist J.B. Wilder.


“We are excited to restore this historic building in the heart of Bourbon City to a luxury boutique hotel that encompasses Louisville’s one-of-a-kind spirit,” Patel said. “We also look forward to joining this timeless neighborhood with Wild Swann, our food and beverage offering intended for guests and locals.”

The Wild Swann restaurant is named after the Swann-Abram Hat Co., one of the original residents of the building in the 1920s known for designing the first hats worn at the Kentucky Derby. It is near the Muhammed Ali Center, Frazier History Museum, Louisville Slugger Museum and many of the area’s restaurants and bars.

Vision Hospitality first announced its plans for The Grady in 2018, according to local media.

Vision Hospitality’s other upscale developments include the AC Hotel Atlanta Perimeter Center in Atlanta, expected to open in 2021, and the Aloft by Marriott Chattanooga/Hamilton Place in Chattanooga. In 2018 it opened The Edwin Hotel, part of Marriott International’s Autograph Collection, in Chattanooga, Tennessee, and launched its own boutique brand, Kinley.

The company also recently broke ground on the Hampton Inn by Hilton Blue Ridge in Blue Ridge, Georgia.

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Report: Rising Labor costs tighten US hotel industry margins
Photo credit: iStock

Report: Labor costs tighten U.S. hotel margins

Summary:

  • U.S. hotel margins tighten as demand slows and labor costs remain high, HotStats reported.
  • Unionized hotels carry 43 percent labor costs, versus 33.5 percent at non-union properties.
  • U.S. sees falling group demand and lower profit conversion since the second quarter.

THE U.S. HOTEL industry is showing signs of strain after a strong start to 2025, according to HotStats. Revenue growth is slowing, occupancy is falling and profit margins are tightening, particularly at unionized properties where labor constraints affect performance.

HotStats’ recent blog post revealed that TRevPAR has barely kept pace with labor costs in the first eight months of the year. While TRevPOR remains positive, gains are offset by declining occupancy, a sign that demand is cooling.

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