Hospitality Asset Managers Association (“HAMA”) Appoints New Board of Directors for 2017

Melissa Silvers

                 ATLANTA, GA, Jan. 31, 2017—Officials of the Hospitality Asset Managers Association (“HAMA”) today announced that they have appointed a new board of directors for 2017.

The new members include:

SCS Advisors’ Melissa Silvers, CHAM (Certified Hotel Asset Manager), as president

CHMWarnick’s Maxine Taylor as vice president

Fulcrum Hospitality’s Larry Kaminsky as secretary

Host Hotels & Resorts’ Christopher Ostapovicz as treasurer

Pinnacle Advisory Group’s Matthew Arrants as marketing chair

hotelAVE’s Kim Gauthier, CHAM, as head of the education chair

CHMWarnick’s Larry Trabulsi as head of the international chair

Three Wall Capital’s Tim Dick as industry chair

Noble Investment Group’s Steven Nicholas as an at-large board member

Xenia Hotels & Resorts, Inc.’s Joseph Bello, CHAM, as an at-large board member

KSL Capital Partners’ Greg Kennealey as an at-large board member

Maxine Taylor

“The new board of directors is made up of prestigious industry figures, bringing nearly 170 years of hospitality asset management experience and diverse experiences from various industry divisions,” said Silvers.

“As we enter the peak phase of this hotel business cycle, the need for asset management becomes increasingly important for owners looking to maximize their investments. 

“With this in mind, we look forward to introducing and inducting more participants into the Certified Hotel Asset Manager (CHAM) program, the world’s only advanced certification available to accomplished hotel asset management professionals.”

“In addition to being our 25th anniversary as an organization, 2017 will see a number of new and innovative programs and opportunities for our membership,” said Taylor. 

“We recently launched a brand new, dynamic website, with the goal of becoming the most trusted online resource for asset management in the world.

Kim Gauthier

“ Additionally, as we work together to represent the interests of hotel owners with management companies and the government, HAMA has a number of planned initiatives, including partnering again with the International Society of Hospitality Consultants (ISHC) to publish the 5th version of ‘A Study in Capital Expenditures in the Hotel Industry,’ the preeminent publication on the topic.

“We also intend to greatly increase the organization’s presence at major industry events and conferences, making for a very full year, indeed.” 

New HAMA president Melissa Slivers brings 25 years of hotel experience, 16 in hotel asset management specifically, to the group, serving as principal at SCS Advisors’ and previously working at such prestigious companies as Marriott International as director of finance and assistant controller and analyst at Interstate Hotels & Resorts. She is certified in hospitality asset management and previously served as HAMA’s education chair. Slivers received a Bachelor of Science in business at Pepperdine University.

Larry Kaminsky

Newly appointed senior vice president of asset management at CHMWarnick, Maxine Taylor also served as executive vice president of asset management at Chartres Lodging Group and vice president of asset management at Capital Hotel Management. Prior to that, Taylor also worked with Horwath Landauer Hospitality Consulting, The Ritz-Carlton hotels in Fla. and Ga. and served as a professor of hospitality management at Edison Community College.

 She formerly served as HAMA international chair and continues to be affiliated with other industry organizations such as the Starwood Owners Advisory Council, the Association of Sheraton Franchisees of North America (ASFONA) and the Consumer Innovation Forum (CIF). Taylor received her master’s in Hospitality Management from Florida International University in Miami and is a Certified Hotel Administrator (CHA).

HAMA members are involved in asset management, acquisition, financing and disposition of hotels and resorts and are directly responsible for making decisions concerning capital investments, renovations, asset repositioning, operational policies and management selection.  Its U.S. members represent more than 3,500 hotels and resorts across every major brand, accounting for 775,000 hotel rooms, 250,000 employees, $40 billion in annual revenue and $3 billion in capital expenditures.

 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

patrick@dalygray.com

www.dalygray.com

The Castell Project Forms to Assist Advancement of Women Professionals in the Hospitality Industry

Peggy Berg

ATLANTA, GA ---Officials announced the formation of Castell Project, Inc., a 501(c)3 nonprofit organization dedicated to accelerating the careers of women professionals in the hospitality industry.

 The group will host its first Castell Leadership Program in the second quarter of 2017.  The two-pronged program delivers essential advancement tools tailored for women and implements a custom career development program to move attendees up the leadership ranks.

“Have you noticed how few women there are in the upper ranks of the hospitality industry, and how many terrific women work in the industry?” asked Peggy Berg, Castell director.

 “We recently spent a weekend working out how to set these women up for success, and as we talked, it became obvious that the time is right for this.  

"The industry has a large pool of talented women poised to move up and committed industry executives – both men and women - who want more women in leadership.

"Tools to accelerate women’s careers are available and vetted in other industries, and we are adapting them to hospitality.

“Think about it, 65 percent of college hospitality programs are women, but only seven percent of speakers at top hospitality industry conferences are women. This is an imbalance,” Berg added. “Our immediate goal is to provide information, skills and networks to help women move up. The industry’s public face has to change if we want millennials to choose this industry as employees or as customers.”

McKinsey Global Institute (2015) and Reuters (2014) report stronger performance in companies with women in leadership positions. Organizations, including the American Bar Association, American Management Association, Intel, Kellogg, Yale and Stanford, use dedicated programs to develop women executives for a wide range of industries.

However, most hotel companies lack the resources to offer leadership development of this caliber internally. The Castell Project’s goal is to provide the solution.

                The inaugural Castell Leadership Program workshop is May 1-3, 2017.  The one-year sequence includes an individual career plan, Checkpoint 360 assessment, workshop, executive coaching, Five-WILL (Women in Lodging Leadership Network) cohort sessions and membership in WILL.

                “Castell Project actively conducts research to track progress in the industry and continually improve our programs,” Berg noted.  “We are proud to have Georgia State University as our academic partner. We currently are fielding a survey online at http://bit.ly/2eWN2i9 to get a better feel for women’s perceptions of career advancement in hospitality.  We encourage everyone to participate.”

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

CHRIS DALY

PRESIDENT

DALY GRAY PUBLIC RELATIONS, INC.

620 Herndon Parkway, Suite 115 | Herndon, VA 20170

Main: 703-435-6293

Mobile: 703-864-5553

chris@dalygray.com

 www.dalygray.com

www.CastellProject.org.

BKM Capital Partners Sells First Three Multi-Tenant Light Industrial Business Parks in its Debut Fund

Brian Malliet

  

           LAS VEGAS, NV – BKM Capital Partners, an institutional fund manager with a niche focus on value-add, multi-tenant light industrial investments, has sold the first three multi-tenant industrial business parks in its debut fund.

 The three dispositions include a 223,009 square-foot multi-tenant industrial building, and a 137,603 square-foot industrial complex in Las Vegas, Nevada, and a 98,516 square-foot business park in Portland, Oregon.

“Creating value in distressed assets is our specialty,” says Brian Malliet, CEO and Co-Founder of BKM Capital Partners. “We acquire light industrial properties that require hands-on management and then implement our proven operational platform to create value, which is exactly what we did here.”

Patrick Commerce Center, Las Vegas, NV

BKM repositioned and leased up all three of the assets, ultimately achieving an IRR of 38.5 percent and 2.1 multiple at the Patrick Commerce Center property, an IRR of 38.5 percent and 2.4 multiple at the Portland property Hayden Island Business Park, and an IRR of 43.3 percent and a 2.3 multiple at Wind River, all within a two-year period.

 “These results demonstrate the strength of our investment thesis,” says Malliet, who explains that BKM has maintained a niche focus on value-add multi-tenant industrial assets since its inception. 

“Because we understand this property type inside and out, we are consistently able to acquire these properties at a significant discount to replacement cost, providing our team with an opportunity to improve the performance of the asset and generate a return for our investors.”

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

Lauren Burgos

Junior Account Executive

Brower, Miller & Cole

895 Dove Street, Third Floor

Newport Beach, CA 92660

p: (949) 955-7940

lburgos@browermillercole.com

www.bkmcapitalpartners.com

Marshall Hotels & Resorts Adds New Build Hotel Projects, One Spa and Two Additional Management Contracts During Second Half 2016

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.

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

 patrick@dalygray.com

 www.dalygray.com

www.marshallhotels.com.

Peachtree Hotel Group (PHG) Adds Approximately $154 Million in Acquisitions and Development Agreements In 2016 Second Half

Brian Waldman

ATLANTA, GA —Officials of Peachtree Hotel Group (PHG), one of the nation’s fastest growing hotel investment and management platforms, announced it made five hotel acquisitions and undertook five development projects totaling approximately $155 million during the second half of 2016, increasing to its growing portfolio of select- and limited-service hotels nationwide by approximately 1,250 rooms.

“While most indicators suggest we are near the peak of the current hospitality cycle, we firmly believe there remain a number of prudent and profitable investment opportunities that provide compelling value,” said Brian Waldman, senior vice president of investments.

 “As evidenced by our recent acquisitions, Peachtree will continue to focus on value-add hotel investment opportunities in secondary and tertiary markets with high barriers to entry and diverse demand generators.”

“National average daily room rate (ADR) and occupancy are predicted to continue growing, albeit at slower rates than over the past few years,” Waldman continued.  “Those national averages, however, can be misleading, as each submarket and segment experiences its own path.  We are confident that the markets we pursue are better insulated than most, with higher than average growth potential.”

Since June 2016, PHG made the following acquisitions.

·     The 108-room Hampton Inn & Suites Sarasota/Bradenton-Airport, Fla.

·     The 136-room Aloft Jacksonville Airport, Fla.

·     The 205-room Hilton Birmingham Perimeter Park, Ala.

·     The 120-room SpringHill Suites Birmingham Colonnade, Ala.

·     The 150-room Hyatt Place Atlanta/Perimeter Center

The company invested approximately $73 million in the new acquisitions, including an additional $15 million that will be deployed to upgrade the hotels. The new acquisitions bring the portfolio to a total of 32 hotels year-to-date, encompassing 3,691 rooms. 

Jatin Desai

In addition to the acquisitions, Peachtree also has executed on five new development deals totaling approximately $82 million:

·     The 98-room Hilton Garden Inn Jackson, Tenn.

·     The 106-suite Home2 Suites by Hilton San Antonio Stone Oak

·     The 140-room Hotel Indigo Celebration Pointe in Gainesville, Fla.

·     The 100-room Courtyard by Marriott Kennesaw, Ga.

·     The 90-suite Home2 Suites Prattville, Ala.

The company also divested four hotels totaling 519 rooms.

“We constantly review our portfolio and will regularly sell off assets at the appropriate time to continue our growth strategy and ensure we have the best mix of the right brands in the markets we find favorable,” said Jatin Desai, chief investment officer. 

“Those properties performed admirably, and we expect them to continue to generate good returns for the new owners.  We intend to take the profits from these dispositions and reinvest them in acquisitions, renovations and expanding our portfolio.”

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

 patrick@dalygray.com

 www.dalygray.com

www.peachtreehotelgroup.com.