| CHICAGO November 10, 2004 � In line with the
hospitality industry�s cell-splitting process of growing new companies,
Coastal Hotel Group�s founders Helmut Horn and Graham Hershman, together
with Coastal�s former Vice President of Marketing, Ralph Aruzza, have formed
Portfolio Hotels and Resorts. Portfolio�s new DNA will undoubtedly
showcase the trio�s industry recognized abilities, skillfully managing
to significantly enhance value within narrow timeframes and tight budgets.
Horn, President of Portfolio, states his new company�s mission succinctly, �We develop assets. Delivering satisfaction at the guest experience level, and giving owners what they need on the bottom line.� Speaking to owner concerns, Portfolio aims to deliver above-industry norm profits without compromising asset values. Portfolio also plans to develop and nurture executive-potential employees in a responsible and culturally-appropriate operation in each property�s environment. Lean and mean at the corporate level, Portfolio�s muscle will be built by empowering local management to provide entrepreneurial, creative, and financially aware structure for properties that share a defined style and position in their respective marketplace. Portfolio will emphasize the unique amenities of its managed properties, creating a brand attribute that focuses on service as the key part of the guest experience. Properties within the PH&R managed collections will share some specific design and location attributes that overall strengthen the Portfolio brand presence. Although Portfolio will maintain company brand quality attributes, the overall marketing philosophy will pivot on property specific branding. Each individual property�s name will be established as a brand unto itself. Portfolio�s role will be to legitimize each managed property�s positioning as an upscale and unique hotel or resort. The Portfolio brand will also become the foundation for cross-marketing of all managed properties and allow for economies of scale for centralized processes such as e commerce initiatives. For additional information, contact: Ralph Aruzza, Senior Vice President, Marketing at [email protected] or 773.584.6206. |
