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| Dave Pollin |
RALEIGH, NC, July 14,
2015—Officials of The Buccini/Pollin Group, a privately-held, full-service real
estate acquisition and development company (BPG), today announced that it has
completed the acquisition of the 353-room Sheraton
Raleigh Hotel in North Carolina.
The hotel, at 421 South
Salisbury Street, will be operated by PM Hospitality Strategies, Inc. (PMHS), a
leading, national hotel management company.
This brings PMHS’
third-party management portfolio to more than 35 hotels, including seven new
assignments in 2015, with multiple projects in the pipeline expected to close
within the next 18 months.
“BPG continues to execute its
strategic plan of acquiring full-service, stabilized hotels in primary and
secondary markets and selectively developing new hotels in high
barrier-to-entry urban locations,” said Dave
Pollin, co-founder. “2015 is one of
the strongest years the hotel industry has ever experienced, and all signs
point towards continued prosperity.”
Joseph Bojanowski, president of PMHS, noted, “We have doubled our management portfolio
over the past two years, adding properties in six states.
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| Joseph Bojanowski |
“Our goal is to continue
growing our platform, essentially doubling in size again over the next three
years.
"With the industry operating at
very positive levels, savvy owners are engaging proven management companies to
optimize profitability and customer satisfaction while controlling margins.
“PMHS has demonstrated its
expertise in these areas and plans to aggressively market its capabilities and
successes as it pursues its growth goals.”
For a complete copy of the company’s news release,
please contact:
Chris Daly
media
(703) 435-6293
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