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Greg Mount and Brian Nordahl Appointed by Sage Hospitality
to Direct Hotel Acquisitions
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Company Plans to Double Portfolio by 2010

Denver, CO - January 11, 2007- Sage Hospitality Resources, the Denver, Co based hospitality company specializing in managing and renovating select service and luxury hotels, has appointed two veteran hotel industry experts to senior management positions. They are Greg Mount, named senior vice president of acquisitions and Brian Nordahl, vice president of acquisitions.

In announcing the appointments, Ken Geist, Sage’s executive vice president said that Mr. Mount and Mr. Nordahl would play pivotal roles in sourcing high-yielding investment prospects to propel Sage’s aggressive growth initiatives.

"Greg Mount and Brian Nordahl are critical additions to Sage’s executive team and will strategically position us to tackle innovative growth opportunities in existing and emerging markets as we launch a comprehensive initiative to double our acquisitions portfolio by 2010,” remarked Mr. Geist. 

Greg Mount, Senior Vice President of Acquisitions
As senior vice president of acquisitions, Mr. Mount will lead all acquisition activity at Sage. Prior to joining Sage, Mr. Mount led the full-service, franchise and management development team for the United States, Canada and the Caribbean for Starwood Hotels & Resorts Worldwide.  Mr. Mount earned his Bachelor of Science Degree in Hotel, Restaurant and Tourism from LaSalle University and has worked in the hotel industry for over 23 years. In addition to his posts at Starwood, Mr. Mount has held prominent operation positions with Interstate Hotels Corporation and Marriott.

Brian Nordahl, Vice President of Acquisitions
In his role as vice president – acquisitions, Mr. Nordahl will be responsible for all of Sage’s hospitality acquisition activity in the eastern half of the United States. Most recently, Mr. Nordahl was a principal with Watermark Capital Partners, a private equity firm focusing its investment activity on the hospitality industry, where he directed all hospitality acquisition and disposition activity, underwriting and due diligence, debt placement and asset management. Prior to Watermark, Mr. Nordahl was a partner with Deloitte Consulting and Deloitte & Touche. Mr. Nordahl earned a Bachelor of Science in Hospitality Management from Florida International University. 

Founded in 1984, Sage Hospitality Resources has strategically grown into one of the largest privately held hotel management and development company in the nation. During the past five years, the Denver, CO-based firm has completed over $1.1 billion in acquisition and development projects, using some of the most unique financing structures in the industry. 

Sage is a preferred franchise partner for Marriott International and Starwood Hotels and Resorts Worldwide. Recently, Sage acquired the $72 million, AAA Four-Diamond JW Marriott Denver at Cherry Creek and the 210-room Sheraton Phoenix Airport Hotel, in Tempe, AZ. In addition to major international brands, Sage’s comprehensive management portfolio includes independent boutiques and hotels such as the visionary 21C Hotel/Museum in Louisville, KY (the signature hotel incorporates an art museum devoted to collecting and displaying living, contemporary artists from around the world). 

As part of an aggressive acquisition strategy, Sage, in partnership with Wave Development LLC and Hexagon Investments, has launched an innovative water resort investment initiative with a newly formed affiliate, CoCo Key Water Resorts LLC.The joint venture will transform 17-20 under-performing business class hotel properties in major markets throughout the United States over the next two years, adding a significant amenity with a signature Coco Key brand, 40,000-80,000 square foot water resort designed to drive RevPAR during traditionally “soft” market periods. The first two of the $1 billion worth of CoCo Key water resorts to be opened were completed in December.

Currently, Sage is in the process of renovating three historic landmarks into luxury hotels: the Masonic Temple in Providence, RI; the Blackstone Hotel in Chicago, IL and the Meier and Frank Department Store in Portland, Oregon

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Contact:

Susanne Voeltz
Sage Hospitality Resources
Phone: 608/284-0848
 

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Also See: Sage Hospitality Will Use Federal New Markets Tax Credits For Proposed $80 million Renaissance Hotel in Downtown Portland / May 2004


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