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Marshall Management Takes New Name - Marshall Hotels &
Resorts, Inc.;
Now Operates 48 Hotels
.
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News for the Hospitality Executive |
Marshall Management Takes New Name - Marshall Hotels &
Resorts, Inc.;
Now Operates 48 Hotels
.
|
Company Relocates to Accommodate Growth, Expanded Services SALISBURY, Md., February 10, 2009 � A major mid-sized hotel management
company today announced it had taken a new name to reflect its growth over
the past five years and a broader range of services. Maryland-based
Marshall Management is now Marshall Hotels & Resorts, Inc. In
addition, the company announced that it has moved to new, larger headquarters
in Salisbury, Maryland.
 �We have essentially doubled in size over the past five years and now operate 48 hotels, with a total asset value in excess of $750 million,� said Michael Marshall, president and CEO of Marshall Hotels & Resorts. �Our range of hotels now extends from limited-service to four-star branded and independent hotels and resorts. We also have an active development and renovation division, as well as provide a variety of back-of-the-house services, including asset management; accounting; sales, marketing and advertising, insurance programs, consulting; and a host of other services. While a somewhat subtle name change, it better communicates who we are and our role as a major, full-service hotel management and services organization.� �We founded the company based on the idea of providing true hands-on service by a highly experienced senior management team,� said Chuck Marshall, chairman of Marshall Hotels & Resorts. �That founding principle hasn�t changed in our 29-year-history. We�ve become more sophisticated and added depth, but our core values remain the same. Our strategy for success also remains the same: providing experienced property-level operators backed by strong strategic direction and support from a seasoned senior management team, who are involved on an on-going basis.� Mike Marshall noted that the company added 15 new contracts in 2008,
at a pace that accelerated as the year progressed. �In difficult
economic times, owners seek out the most experienced operators who have
a proven track record in all phases of the economic cycle,� he said.
�We have the infrastructure and expertise to not only help owners through
these challenging times but to gain market share and optimize profits.
Our portfolio of managed properties last year enjoyed a 5.1 percent increase
in average RevPAR premium over their respective competitive sets, factoring
the longer term accounts and the recently opened properties still in a
ramp up period. Our goal is to increase that market share in 2009.
Virtually all markets are experiencing difficulties at this time, but we
are confident that we have the people, plans and systems in place to optimize
results.�
During 2008, the company was involved in more than 10 new development projects and oversaw more than $5 million in renovation activity. Marshall Hotels & Resorts also took over management of its first hotels in Manhattan. �We opened two new hotels in the city and will add at least two other properties there in 2009,� he noted. The company�s new headquarters facilities encompass 9, 000 square feet, nearly 30 percent more than the company�s previous headquarters. �We literally were bursting at the seams, and now we have room for additional expansion,� Marshall said. The new address for Marshall Hotels & Resorts is: 1315 South Division Street
About Marshall Hotels & Resorts, Inc.
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| Contact:
Rick Day
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| Also See: | Marshall Management Signs Four New Hotel Management Contracts; Managed Portfolio Reaches 36 Hotels / January 2008 |
| Marshall Management Signs 11 New Management Contracts in 2006 / February 2007 |
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Charles
L. Marshall
Michael
P. Marshall