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New ownership has announced plans to invest more than $25 million in an extensive overhaul of the Waterford Hotel in northwest Oklahoma City, a move that will reposition the property under the Marriott Autograph Collection banner and place operations with a local hotel management firm. The deal closed in late August 2026 and signals a concerted effort to restore the hotel’s status amid rising demand for high-end rooms and event space in the metro area.
Who bought the Waterford and what will change
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Waterford Hotel sale triggers $25 million renovation plan
Robinson Park, the real estate group led by developer Mark Beffort, completed the purchase and has turned day-to-day control of the 1980s-era hotel over to Coury Hospitality, the company that operates the Skirvin and Colcord hotels. Beffort — who holds stakes in several downtown properties — is joined in the acquisition by hospitality investor Paul Self.
The new owners said the property will move from its current brand to Marriott’s Autograph Collection and undergo a comprehensive capital improvement program. Management described the plans as a full-scale repositioning rather than a cosmetic refresh.
Planned upgrades — a quick breakdown
- Lobby and public spaces: redesign to modernize guest arrival and circulation.
- Food and beverage: renovation of the on-site restaurant and bar to create more neighborhood appeal.
- Meeting and event facilities: upgraded audio-visual and layout options to target conferences and weddings.
- Guestrooms: systematic refurbishment to align with Autograph Collection standards.
- Amenities: improvements to the outdoor pool and other guest services.
Executives characterize the program as substantial — both in scope and in budget — and intended to lift the hotel’s market positioning. Coury Hospitality plans to add new programming designed to draw local patrons in addition to travelers, reinforcing the hotel’s role within the surrounding community.
Why this matters now
For travelers and local businesses, the Waterford’s upgrade could add hundreds of upgraded rooms and fresh event capacity in northwest Oklahoma City at a time when demand for upscale hospitality is increasing. A repositioned hotel under a nationally recognized lifestyle brand typically commands higher average daily rates and attracts larger meetings and leisure groups, which has knock-on effects for restaurants, caterers and nearby retail.
There are also employment implications: renovation work will generate construction jobs in the short term and the upgraded operation is likely to require expanded staff once the hotel reopens under its new flag.
Past, present and implications for the local market
The Waterford first opened in the mid-1980s as part of a larger mixed-use plan and was once seen as a northwest Oklahoma City anchor. Economic headwinds shortly after opening forced early ownership changes, but the property regained prominence through the 1990s. Competition from newer downtown developments gradually eroded that edge, and the last major renovation occurred in 2016.
The current investment aims to leapfrog incremental updates and deliver a higher-tier offering that could help recapture business lost to newer hotels. Local hotel leaders say stronger product variety across the market helps attract conventions and high-rate group business to the region.
Robinson Park’s development lead described the acquisition as an opportunity to restore the hotel’s regional profile, while Coury Hospitality said it will apply its operational model to ensure a smooth transition. Timelines for the renovation and rebranding have not been finalized publicly; the owners say work will begin once planning and permitting are complete.
