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Management Corp., Has Acquired 45 hotels and Sold Six 14 years; Recieves Ernst & Young Entrepreneur of the Year Award |
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SAN DIEGO, June 24, 2004 - Michael Gallegos, president and CEO of San
Diego-headquartered American Property Management Corp. (APMC), has been
honored with an Ernst & Young Entrepreneur of the Year award for creating
in just 14 years one of the nation's largest and fastest growing independent
hotel companies.
Gallegos co-founded APMC in 1990. In the 14 years since, the company has acquired 45 hotels and sold six, yielding a more than 100 percent average annual return for investors. Today, APMC focuses on purchasing nonperforming and underperforming hotels and transforming them into successful properties through state-of-the-art financial systems, innovative food and beverage concepts, preventative maintenance, human resources support and creative sales and marketing. The company's 39 hotels and resorts are located from coast to coast with 9,513 rooms, 5,000 employees, generating more than $300 million in annual revenues. In addition to a successful network of independent hotels, boutique properties and resorts, APMC's hotel flags include Starwood Luxury Collection, Marriott, Hilton, Sheraton, Radisson, Holiday Inn, AmeriSuites, Ramada, Days Inn and Wyndham. Most recently, APMC was ranked 10th of the Top 100 Independent, Third-Party Management Companies in the March 2004 issue of Hotel & Motel Magazine, and the 17th-largest hotel owner in the United States according to Hotel Business magazine rankings. In the July 2003 issue of National Real Estate Investor magazine, APMC was ranked 10th of the Top 25 Hotel Owners. APMC hotels have received more than 50 top awards from parent franchise companies. The company's stellar track record earned it the privilege of being the only independent hotel company in the United States approved to manage the five-star Starwood Luxury Collection Hotel and Regent Hotel brands. The Ernst & Young Entrepreneur of the Year program is well known for identifying the brightest business stars before they become household names. Past winners include Michael Dell of Dell Computer, Ely Callaway of Callaway Golf and Dr. Irwin Jacobs of Qualcomm Inc. |
Contact:
American Property Management Corp. |