Management Contracts in 2006
|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.”
The four hotels include:
|Also See:||Marshall Management Names Benjamin N. Seidel Joins as Executive Vice-president and Patrick Welton as Corporate Director of Revenue / June 2006|
|Marshall Management Adds Two Vice Presidents to Management Team, David Harvill and Ron Callari / November 2006|