News for the Hospitality Executive |
The Lam Group, Lam Generation Sign Marshall Management
to
Facilitate Accelerated Development in New York City
NEW YORK, N.Y./SALISBURY, Md., August 27, 2007 � The Lam
Group, a leading hotel and real estate development firm owned by John Lam;
Lam Generation, a recently formed hotel development and ownership company
operated by Jeffrey Lam; and Marshall Management, a leading, mid-sized
hotel management company, today announced that they have signed agreements
designed to help the two development companies accelerate their planned
development in New York City.
Under terms of the agreement Marshall Management will provide strategic and operating consulting services for �back of the house� operations, including accounting, property-level strategic marketing planning, analysis of operating results and making periodic property visitation/reviews. Marshall Management will also provide consulting services for pre-opening activities, including planning and marketing, as well as assist in training and hiring. The company currently is underway in a search to find the key property-level executives for three hotels. The agreement initially covers two hotels currently under construction by The Lam Group:
�We are accelerating our hotel development in New York City,� said John Lam, chairman and chief executive officer of The Lam Group. �As a result, we realized that we needed additional hotel management expertise to back us up in the administrative area. We reviewed a number of management companies and chose Marshall Management because of their depth of experience in mid-market hotels in urban markets, expertise in pre-opening support and proprietary management systems. We will continue to manage the �front-of-the-house� activities, but believe we will now be a much stronger operator with this additional support. We look forward to the opportunity to expand our relationship with Marshall Management as we move ahead on a number of projects. Should we sell any of these hotels, it is our intent to continue to operate them under long-term management agreements.� �Our SoHo Hampton is a special property, which led to Lam Generation being honored as the Hampton Developer of the Year,� said Jeffrey Lam. �Marshall has developed, constructed and operated a substantial number of Hamptons and that expertise will help us achieve our goal of having our first property one of the best in the Hampton system.� �Both development companies have well established reputations, having built approximately 20 hotels, primarily in New York, in the past eight years,� said Mike Marshall, president and CEO of Marshall Management. �Our firm brings an experienced team and the infrastructure to comfortably provide these specialized services, as well as take on other consulting assignments for these two companies. Although we are a national, mid-sized company, we have substantial experience with hotels on the Eastern seaboard. We look forward to building a long-term relationship.� About The Lam Group
About Lam Generation
About Marshall Management
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Contact:
Rick Day
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Also See: | Hilton Hotels Names Top Developers for Hampton, Hilton Garden Inn and Homewood Suites Brands / March 2007 |
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