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VOL. 132 | NO. 232 | Wednesday, November 22, 2017

Madison Hotel Temporarily Shutting Down Hospitality Services

By Patrick Lantrip

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(Lance Murphey/Memphis Daily News)

The Madison Hotel, an upscale high-rise hotel in Downtown Memphis, has informed state officials that it will be temporarily shutting down its food and catering services, which will affect 33 workers.

According to a Worker Adjustment and Retraining Notification, or WARN notice, filed with the Tennessee Department of Labor and Workforce Development Nov. 17, owners Aparium Hotel Group are planning to shut down eighty3 and the Skylight Terrace on Jan. 15, while the hotel renovates and rebrands its food services.

The notice did not say if the affected workers would permanently displaced or rehired when the renovations are completed sometime “early next year.”

Multiple calls to Aparium were unreturned by press time.

Originally built in 1905, the nearly 80,000-square-foot hotel located at 79 Madison Ave. was acquired by Aparium in July 2016 in quit claim deed from Wilmont Hotel LP.

No purchase price was listed on the quit claim deed, but Aparium did file a $16 million loan through PFP Holding Co. IV LLC in conjunction with the transaction.

The hotel was last appraised for $14.7 million by the Shelby County Assessor in 2017.

Founded in 2011, Aparium bills itself as a sophisticated hotel chain that combines “the business acumen of large hospitality companies with the charm of boutique hotels, bringing the disparate forces together in bustling, smaller markets,” according to the company’s website.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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