The Promissory Hotel

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Scope of Work:

Ensuring that every space was thoughtfully designed and positioned for the guest experience, Retro applied its deep knowledge of historic redevelopment, hotel operations, and placemaking to guide the transformation of the former First National Exchange Bank into The Promissory Hotel—downtown Roanoke’s newest cultural destination, opening in late 2025.

Project Overview:

Located at the intersection of history and culture in downtown Roanoke, The Promissory Hotel reimagines a 20th-century bank into a 27-room boutique hotel, restaurant, and live music venue. Once a house of transaction, the building now stands as a home for connection—uniting hospitality, music, and cuisine under one roof.

The historic property retains its architectural integrity while introducing modern design and comfort across its guest rooms, lofts, and suites. At the heart of the hotel is The Exchange, a premier concert hall curated in partnership with Across-the-Way Productions, bringing an exceptional lineup of live performances and cultural programming to the region. Guests can also savor authentic Spanish cuisine and curated wines at Suerte, a vibrant restaurant and wine bar led by local restaurateur JP Powell.

With its thoughtful balance of preservation and innovation, The Promissory Hotel represents Retro’s vision of transforming Virginia’s historic landmarks into places where stories—old and new—find harmony.

Details

  • 27 oversized suites, lofts, and classic rooms

  • Historic 1920s First National Exchange Bank building

  • The Exchange: live music venue with1,000+

  • ¡Suerte!: Spanish-themed restaurant and wine bar