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| Mike Marshall |
SALISBURY, MD —Marshall
Hotels & Resorts, a leading hotel management and services company that
operates properties nationwide, announced the company has enjoyed a record
2016, signing six new build hotels and a stand-alone spa to its construction
pipeline, as well as adding two new management contracts, in the second half of
the year alone.
The hotels are scheduled
to come on-line following construction completion, bringing the company’s
portfolio to 60 hotel contracts year-to-date.
“With eight properties in
the pipeline and 14 new third-party hotel management agreements signed in the
first half of 2016, combined with these additional eight hotels and a spa, we
will post a record growth year,” said Mike
Marshall, president and CEO.
“Our full suite of proven
hotel management services, including staff training, construction oversight and
pre-opening through long-term planning and asset sale, provides owners with the
confidence that all phases of the hotel’s lifecycle are covered.”
“Although the industry as
a whole has rebounded nicely over the last few years, a substantial number of
hotels, whether performance- or market-related, have not fully optimized
revenue and profit opportunities,” Marshall added. “As industry growth moderates,
these owners seek stronger management companies with proven track records,
providing companies like ours with exceptional growth opportunities during this
phase of the hotel industry cycle.”
The properties added to
the company’s pipeline and that currently are under construction include:
· 96-room Bernic Boutique Hotel in Manhattan, N.Y.
· 75-room Microtel Inn & Suites in Long Island City,
N.Y.
· 87-room Ascend Hotel Brooklyn, N.Y.
· 57-room Best Western Brewster, N.Y.
· 40-room Curio by Hilton West Chester, Pa.
· Spa Castle Premier 57 in Manhattan, N.Y.
Additionally, Marshall
added the following contracts to its portfolio of third-party managed hotels.
· 163-room Heritage Hotel & Conference Center in
Southbury, Conn.
· 150-room Hampton Inn and Suites in Yonkers, N.Y.
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| Hampton Inn and Suites, Yonkers, NY |
“We have helped develop
more than 25 properties over the last decade,” Marshall noted. “These properties are located in the
Northeast Corridor, one of the most challenging construction regions in the
country.
"We have a strong track record
of completion on budget and look forward to completing these projects in 2017
and ramping up quickly.
"We also have
been involved in spa operations and development for more than 10 years and see
continued growth opportunities in this sector.”
The company also has signed
additional management agreements currently in the early development stage,
which are expected to get underway in 2017 or 2018.
Marshall also noted that
two properties the company recently opened, the Hampton Inn & Suites
Ephrata and the Hampton Inn & Suites Mt. Joy, both in Pa., recently sold,
resulting in handsome returns for ownership.
“We believe strong sale
prices in a tightening marketplace where buyers and sellers don’t always see
eye-to-eye is a testament to our ability to quickly get a hotel up and
operating efficiently and profitably.
When the time is right for owners to sell, we are the first ones to
advise them to do so,” he said.
For a complete copy of the company’s news release,
please contact:
PATRICK DALY
OFFICE MANAGER
DALY GRAY PUBLIC
RELATIONS, INC.
620 Herndon Parkway, Suite
115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-300-8289
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