Ascendant Holdings and Central Properties: Engage Provenance Hotels to manage and help develop new hotels in Madison

Contact: Kate Buska, Public Relations Director
503-548-9399, kate@provenancehotels.com

Madison – Ascendant Holdings, a commercial real estate development and investment company based in Madison and Milwaukee, and Central Properties, an owner and developer of student housing and longtime investor in downtown Madison real estate, have tapped Provenance Hotels, a Portland, Ore.-based hotel owner and operator lifestyle hotels, to manage the lifestyle hotel they are developing at 118 and 122 State Street, steps from the Wisconsin state capital building in the heart of downtown Madison.

“We undertook an exhaustive nationwide search and met with operators of all sizes – independents, brands and everything in between,” said Eric Nordeen, principal of Ascendant Holdings. “What won us over about Provenance Hotels was their track record of success, unique perspective as owners and authentic approach to creating independent hotels that are rooted in the community.”

“We couldn’t be more excited about working with Ascendant Holdings and Central Properties or about adding Madison to our roster of great locations,” said Bashar Wali, president of Provenance Hotels. “Our mission is to seek out forward-looking cities with a strong creative community where we can craft hotels that engage, reflect and embody the local spirit – Madison fits that to a tee and this location, on State Street a block from the capital, is ideal for a hotel that will be in the heart of it all.”

Under the direction of Ascendant Holdings, Central Properties and Provenance Hotels, the centrally-located site will become a hotel with a marquee ground-floor food and beverage operation, meeting spaces and a rooftop lounge. Provenance Hotels, an operator known for creating award-winning, handcrafted, locally-driven hotel experiences, will manage the property when it opens in 2018.

Provenance Hotels operates hotels across the nation that are widely-acclaimed for their deeply integrated art stories, innovative amenities, thought provoking design and gracious service. In 2015, the company opened the Old No. 77 Hotel & Chandlery in New Orleans to national- and critical-acclaim that included nabbing the #7 spot on Travel + Leisure magazine’s 2016 World’s Best list of top city hotels in the continental U.S. Earlier this year, Provenance Hotels announced it will open Hotel Theodore in Seattle in summer 2017 and the Woodlark in Portland in late 2017. The project in Madison will be the first Provenance Hotels property in Wisconsin.