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International Conference Resorts - Adds five ICR resorts and conference centers to existing management portfolio of 22 properties |
THE WOODLANDS, TEXAS, May 18, 2001...Benchmark Hospitality, Inc., purchased
International Conference Resorts (ICR) on Wednesday, May 16, 2001, in Phoenix,
Arizona. Benchmark�s purchase of ICR was done in concert with EquiSource
Capital Corporation, a Dallas-based real estate investment firm.
According to EquiSource�s President and CEO, William R. Henry, the company
will continue to assist in the development, acquisition and capital restructuring
of additional properties. Closing on the ICR purchase is to occur
later this month.
By adding the five ICR resorts and conference centers to the company�s existing management portfolio of 22 properties, Benchmark will become the tenth ranked hospitality management company by gross annual revenues. The five properties include Scottsdale Conference Resort, Scottsdale, Arizona; Carefree Conference Resort, Carefree, Arizona; Cheyenne Mountain Conference Resort, Colorado Springs, Colorado; Graylyn International Conference Center, Winston Salem, North Carolina; and Ocean Place Conference Resort, Long Branch, New Jersey. �I�m excited we were able to bring these properties to Benchmark Hospitality,� stated Burt Cabañas, Founder, Chairman and Chief Executive Officer of Benchmark Hospitality. �It clearly positions Benchmark as the predominant conference hotel and conference resort management company in the United States. We welcome ICR�s excellent staff and customers into the Benchmark family.� Benchmark Hospitality, an international hospitality management company based in The Woodlands, Texas, operates luxury resorts, hotels, and conference centers throughout the United States, in Canada, Japan, and Thailand. |
Ken Ellens (201) 840-8036 [email protected] www.benchmarkhospitality.com |