SALISBURY, Md., July 10 /PRNewswire/ -- Marshall Management, a leading mid-sized hotel management company, today announced that it has added three contracts to its management portfolio, bringing to seven the number of new contracts added year-to-date in 2007. The new contracts include:
-- Quality Inn Naval Base, Norfolk, Va.--The 120-room hotel, located at
8051 Hampton Boulevard, recently converted to the Quality Inn brand and
will undergo a $600,000 renovation, including new soft goods and case
goods. Marshall Management also is a minority investor in the
project. "We have the financial strength to co-invest with owners when
appropriate and continue to seek additional opportunities," said Mike
Marshall, president and CEO of Marshall Management.
-- Holiday Inn Parkway East, Pittsburgh, Pa.--Located at 915 Brinton Road,
the 177-room hotel focuses on transient and leisure travelers, as well
as mid-sized meetings. The hotel has more than 6,500 square feet of
meeting space and can accommodate groups of more than 250 people.
-- Riveredge Resort, Alexandria Bay, N.Y.--Located on Alexandria Bay on
the St. Laurence Seaway in the heart of the Thousand Islands, the full-
service, first-class resort features 2,000 square feet of dock space,
sightseeing cruises and guided fishing trips. Surrounded by water on
three sides, the 129-room property features the upscale Windows on the
Bay restaurant and a lounge. The hotel can accommodate groups of more
than 300 people.
"We believe there is a significant opportunity to improve margins and profitability at these hotels," Marshall said. "In a buoyant economy, virtually all hotels show increased revenues, but too many operators do not bring enough of those improvements to the hotel's bottom line. We have developed proprietary management and marketing systems and programs that generate an immediate impact on a hotel's performance. All three hotels already have shown a substantial improvement in guest satisfaction and profitability.
"This is our seventh contract this year and we are well on our way to exceed the 11 properties we added last year," he said. "We have an extremely active pipeline of properties in more than 11 states.
"Concurrently, several of our existing owners have sold their hotels to harvest substantial profits from their initial investment," he said. "This natural, cyclical turnover in our portfolio allows us to continue to provide hands-on senior management attention to each property we operate. We have the size and management depth to continue to generate superior returns yet small enough - a target portfolio size of 25 to 40 hotels - to know all of our properties in great detail."
Salisbury, Md.-based Marshall Management, founded in 1980, has special expertise in operating three- and four-star branded hotels and resorts, averaging 100 to 400 rooms, in urban and central business districts, suburban/drive-to and resort locations. In addition, the company has a proven track record managing independent resort and unique urban properties. The company has managed a wide array of leading hotel brands, including Hilton, Starwood, InterContinental Hotel Group, Choice and Wyndham. Additional information about Marshall Management may be found at the company's Web site: http://www.marshallhotels.com/ .
Contact: Rick Day
Senior Vice President - Sales and Marketing
Marshall Management, Inc.
(410)749-8464
rday@marshallhotels.com
Jerry Daly, media
Daly Gray Public Relations
(703) 435-6293
jerry@dalygray.com
Marshall Management
CONTACT: Rick Day, Senior Vice President-Sales and Marketing of Marshall
Management +1-410-749-8464, rday@marshallhotels.com, or Jerry Daly of Daly
Gray Public Relations, +1-703-435-6293, jerry@dalygray.com for Marshall
Management
Web site: http://www.marshallhotels.com/
