Economic Development Update: Hospitality Ventures completes purchase of downtown hotels Atlanta group pays $27 million for Winston-Salem hotel properties The new owner of two downtown Winston-Salem hotel properties spent $27.35 million on its purchase. Hospitality Ventures Management Group closed July 26 on the 315-room Marriott and the 146-room Embassy Suites. Plans have been made to spend more than $20 million on renovations, raising the overall project investment to more than $47 million. To read the Winston-Salem Journal’s full article, click here. Exciting news is being announced almost every week about new development projects happening in or around Winston-Salem/Forsyth County. Click here to access an archive of local news articles, for your reference, regarding these announced projects.