 WASHINGTON,
DC � March 6, 2007 �Lazer Lodging Asset Management®, a hospitality
advisory and asset management firm that was launched mid-2006 by industry
veteran Randall Carroll, today announced that is has been appointed by
an affiliate of The Carlyle Group (�Carlyle�) to serve as asset manager
for the 205-room Sheraton College Park Hotel in Beltsville, Maryland.
Carlyle is a major global private equity firm with a controlling interest
in a venture that recently acquired the Sheraton College Park. Fairfax,
Virginia-based, Crescent Hotels & Resorts, a rapidly growing hotel
and resort management and ownership company, is the operator of the Sheraton.
The Sheraton College Park Hotel is located at the intersection of Interstate 95 and The Capitol Beltway (I-495) near the main campus of The University of Maryland. The hotel�s new owner plans a $4.0 million renovation of the property during the next six months. �We believe savvy asset management can make a significant contribution to hotel investment value,� remarked Mark Schoenfeld, Managing Director at Carlyle Realty in jointly announcing Lazer Lodging�s appointment. �The experience of Lazer Lodging combined with the operational expertise of Crescent should enable the Sheraton College Park to achieve its full potential.� �Lazer is pleased to be working with Carlyle and Crescent to optimize the performance of the Sheraton,� said Randall Carroll. �The superb location of this property and the strength of its ownership group and management company bode well for its future competitive positioning, especially once the benefits of the initial renovation are realized.� For additional information about the benefits of professional asset management and this project please contact Randall Carroll at 703.288.5216. ABOUT RANDALL CARROLL AND LAZER LODGING Founded in June of 2006, Lazer Lodging is an asset management and advisory services firm that seeks, on behalf of its clients, to maximize the income from, and value of, hospitality investments. In order to avoid any conflict-of-interest, or even the appearance thereof, Lazer works exclusively for hotel owners and lenders. Mr. Carroll, its President, brings more than 25 years of hospitality industry experience, in legal, finance, operations, real estate and asset management positions to his new company. Immediately prior to forming Lazer Lodging, Mr. Carroll was the Senior Vice President of Real Estate & Asset Management for MeriStar Hospitality Corporation, one of the nation�s largest hotel owners and a publicly-traded real estate investment trust that was privatized in 2006 in a $2.6 billion transaction. Prior to joining MeriStar, Mr. Carroll was Vice President of Corporate Development and Finance for Hilton Hotels, where he was responsible for originating, negotiating and structuring Hilton's major real estate transactions and supervising projects through the development or acquisition process in the Eastern Region. He also served as Vice President of Development for the company's timeshare subsidiary, Hilton Grand Vacations Company. |