Awarded $21.6 Million Contract
Leading Boston Firm to Design Five Marriott Hotel Interiors
HEI Hospitality/Greenfield Partners/GIC
BOSTON, MA, Mar 29, 2004 - J/Brice Design International,
Inc., Boston (www.jbricedesign.com)
has been selected to design the interiors of five Marriott hotels, newly
acquired by HEI Hospitality/Greenfield Partners/GIC from Host Marriott.
Renovations will total $21.6 million and will include work on all public
spaces, including function and social venues, guestrooms, suites and corridors.
The contract award was announced by HEI Hospitality, a privately held hotel
ownership and management group, headquartered in Norwalk, CT.
Ornstein adds, "We are creating a sense of quiet sophistication for these properties by using inviting, contemporary colors and subtle patterns in guestrooms and public spaces that are in concert with Marriott¹s new direction. In response to the needs of today¹s business traveler, who needs to be connected and able to work Śround the clock, we are streamlining the guestroom furniture to make it more functional in a warm, comfortable and upscale environment. This is part of a trend toward merging residential qualities with practical considerations for today¹s traveler."
The five Marriott Hotels were acquired for $70 Million in a joint venture with a fund managed by Greenfield Partners, LLC, a privately owned real estate investment management firm, and GIC Real Estate, a global real estate investment management company (NYSE: HMT).
Located in Fullerton, California, with two each in Atlanta and Detroit, the properties will continue to be operated as Marriott Hotels. This latest acquisition comprises 1,324 rooms and brings HEI's portfolio to 18 properties with 5,424 rooms.
Merritt Hospitality, formerly Smillezzz, a wholly owned subsidiary of HEI will manage the properties.
A preferred design group for Marriott International/Renaissance Hotels, J/Brice Design International also currently directs projects for Hilton Hotels/Doubletree Guest Suites, Starwood, TAJ Hotels, Abu Dhabi National Hotels, and prime time television¹s popular hotelier Donald Trump, who is developing a new luxury resort in Ft. Lauderdale. New England-based clients include the Druker Company and Cornerstone Real Estate Advisers, Inc., MassMutual¹s real estate asset management subsidiary whose properties are in New York City, Florida and elsewhere in the US.
"These hotels match up well with our investment
model favoring first-class, full-service properties with 200 to 500 rooms,"
says Mendell, adding, "With the completion of the planned renovations will
be well positioned to take full advantage of the current rebound in the
economy and return of the business traveler." The five hotels acquired
from Host Marriott are:
J/Brice Design International, Inc. has been designated an Interior Design Giant, and Architectural Giant since 1991. The firm ranks 24th out of 100 national firms, its staff has over 150 hotel/restaurant projects to its credit, and has the confidence of all major hotel chains as a preferred design team. www.jbricedesign.com
Norwalk, CT-based Greenfield Partners, LLC is a privately held management firm specializing in real estate-related investments on behalf of principals and partners. Since its inception in 1997, Greenfield Partners has acquired $2 billion of assets for principals and partners.
GIC Real Estate, the real estate investment company of the Government of Singapore Investment Corporation, has one of the largest international real estate portfolios among institutional investors with some 120 investments in more than 25 countries.
HEI Hospitality, headquartered in Norwalk, Conn., is an ownership/investment and hotel management group that owns and operates first-class and full-service hotels throughout the US under such brands as Westin, Marriott, Sheraton, and Hilton. Merritt Hospitality, is an independent hotel management company and a wholly owned subsidiary of HEI Hospitality.
J/Brice Design International, Inc.