Posted on November 8, 2018
An El Dorado-based ownership group said Wednesday that it will bring a boutique hotel to downtown El Dorado as part of the Murphy Arts District (MAD).
Named “The Haywood,” the hotel is scheduled to break ground in early 2019, with a target opening of March 2020. It is budgeted at $14.0 million. It will be developed by Newmark Moses Tucker Partners (NMTP) of Little Rock.
“Newmark Moses Tucker was the unanimous choice when it came to carrying out the vision the owners wanted for The Haywood,” said Terry Stewart, MAD Chairman and CEO. “We needed a firm that could make the hotel a distinct stand-alone destination, while ultimately supporting and strengthening the district as a whole.”
The hotel will be situated a half block from the new farm-to-table Griffin Restaurant and Music Hall, one block off the downtown square.
Austin Barrow, MAD President and COO, said The Haywood embodies the ambition and spirit of the Murphy Arts District. He credits the leadership and financial backing of the local ownership group in making the hotel a reality. All have deep ties to El Dorado, the vast majority of them serving as leaders in the community both on the corporate and non-profit side.
“It wouldn’t be possible without them,” said Barrow. “And that’s important, because The Haywood is critical to the overall success of the district. The collective MAD experience is what matters, and The Haywood will be an important part of that.”
Among owners are members of the Murphy family, founders of Murphy Oil, Murphy USA and Deltic Timber.
“Haywood” was the middle name of family patriarch Charles Haywood Murphy Sr.
BancorpSouth originally contributed the land to what would become a MAD-related entity, which in turn deeded it to the current ownership group.
The project will be financed by El Dorado-based First Financial Bank, and key development partners include the architecture firm AMR Architects and general contractor Clark Contractors.
Advertising agency Eric, Rob and Isaac will lead The Haywood’s branding and PR efforts, and Beechwood Hospitality will manage and oversee all hotel operations.