Marshall Hotels & Resorts Expands Portfolio with Five Management Contracts in First Quarter

Magnuson Hotel and Conference Center, Tyler, TX

SALISBURY, MD, April 10, 2013—Marshall Hotels & Resorts, Inc., a leading hotel management and services company that operates properties nationwide, today announced that it  added four hotel managements contracts and one country club management engagement in the 2013 first quarter.  The property locations range from Tyler, TX to Binghamton, NY. 

Michael Marshall

“We have noticed a sharp uptick in local and regional banks wanting to dispose of lender-owned assets that require major renovations and are in danger of losing their franchise flags,” said Mike Marshall, president and CEO.  “Lenders are at the decision point to either hold the troubled asset that currently is losing money and wait for the hotel economy to improve further or sell now. 

“The Catch-22 is that many of these hotels require an immediate major capital infusion to maintain their franchise flag or remain competitive,” he noted.

  “That carries more risk than many lenders are willing to take which is leading to more of these troubled assets coming to market. 

Ramada Vineland, Vineland, NJ

“Savvy investors see the value on a risk-adjusted basis and realize that these properties typically are deep turnarounds that require repositioning and re-energized management, which is one of our key strengths.” 

The five new management contracts include:

• Magnuson Hotel & Conference Center, Tyler, TX, 159 rooms.
• Ramada Vineland, N.J., 103 rooms.
• Fernwood Hotel and Convention Center, Bushkill, PA, 128 rooms.
• Vestal Hills Country Club, Binghamton, N.Y., 215 acres.
• Former Quality Inn Hotel, Carmel Church, VA.

 For a complete copy of the company’s news release, please contact:

 Pat Daly, Jerry Daly, media

Daly Gray Public Relations

(703) 435-6293

jerry@dalygray.com

                     

www.marshallhotels.com

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