| SALISBURY, Md., February 5, 2007� Marshall Management announced
that it has signed contracts to operate four hotels in the 2006 fourth
quarter, bringing to 11 the number of new management contracts or new hotels
opened for the 12-month period.
�This was the company�s strongest year in terms of revenue in our history,�
said Michael Marshall, president. �We added new resorts, upper upscale
hotels and mid-market properties with and without food and beverage.
We also oversaw construction and opened three new hotels, one in which
we are a joint-venture partner.
�Concurrently, owners sold several of our managed hotels because they
had achieved or exceeded their investment objectives,� he noted.
�While we do not like to lose contracts, we do receive great satisfaction
when owners attain substantial gains, which creates stronger long-term
relationships between us and our owners.
�The outlook for 2007 is even more promising. In addition to new
contracts, we are looking at opportunities for development and acquisitions,
either in joint ventures or wholly owned,� he said.
Marshall noted that the company sees significant opportunities to immediately
improve the results at the properties taken over by the company through
renovation and repositioning, institution of sound cost controls, innovative
marketing and economies of scale. �We believe a majority of hotels
in the country are under-managed. Most typically, this is a result
of inexperience or operators who do not devote senior management time to
each property in their management portfolio.�
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Quality Inn Atlantic City
500 N Albany Ave
Atlantic City, New Jersey
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The Inn at Norton
551 Highway 58 East
Norton, Virginia
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The four hotels include:
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Inn at Norton (Virginia)�The hotel currently is undergoing evaluation to
determine the level of renovations required while concurrently reviewing
potential branding opportunities. �This is a unique property because
it is the regional center for seven counties and is the only full-service
hotel within a 50-mile radius. We have implemented our proprietary
operating systems in the interim and already are seeing significant positive
movement in the bottom line.�
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Out-of-service hotel, Manning, S.C.�The hotel currently is closed and is
undergoing a study to determine the appropriate major franchise for the
property. �This hotel has been out-of-service for more than seven
quarters. It has a great location, just off of I-95, and with the
proper investment and positioning has significant upside potential.�
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Quality Inn Bayside and Quality Inn Casino City, Atlantic City, N.J.��Both
of these properties are owned by the same organization,� Marshall noted.
�Timing for taking over these hotels is beneficial because we now have
sufficient time to implement our systems, especially cost controls, conduct
training and institute marketing programs to maximize occupancy for the
upcoming shoulder and high seasons.�
Salisbury, Md.-based Marshall Management, founded in 1980, has special
expertise in operating three- and four-star branded hotels and resorts,
averaging 100 to 400 rooms, in urban and central business districts, suburban/drive-to
and resort locations. In addition, the company has a proven track
record managing independent resort properties. The company has managed
a wide array of leading hotel brands, including Hilton, Starwood, InterContinental
Hotel Group, Choice and Wyndham.
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