|By Matt Glynn, The Buffalo News,
N.Y.McClatchy-Tribune Business News
Oct. 4, 2006 - Amherst-based Hamister Hospitality has bought four Pittsburgh-area hotels, adding to its stable of five hotels.
Two of the properties are Hampton Inns, one is a Holiday Inn Express, and one is a Residence Inn. They were owned by Don Rodgers, a Pittsburgh-area developer, and managed by Vista Host. The deal was completed Tuesday and the sale price was not disclosed.
Mark Hamister, chief executive officer of Hamister Hospitality, said he viewed Pittsburgh as a solid Northeast market that has adapted its economy to change, with a solid corporate base and growing or stable areas around the city.
"Pittsburgh's always been something that's been in our sights, so when this opportunity came along, we went after it," he said.
Hamister Hospitality, led by Mark Hamister, was founded in 2004 with the purchase of two hotels in the Nashville area. It acquired three additional hotels last year in Tennessee and Kentucky.
With the latest deal, its total number of hotel rooms has increased to 825 from 369.
Hamister Hospitality plans to buy or develop five to 10 Marriott, Hilton, Intercontinental or Choice-branded hotels per year.
Copyright (c) 2006, The Buffalo News, N.Y.
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