Hotel Online
News for the Hospitality Executive

.

advertisement
 
 

Presidio Companies and Affiliates Building a $13 million 75-room
Hyatt Place at the University of California, Davis, California
.


Davis, California - December 30, 2008 - Sushil Patel, Managing Principal of Presidio Companies, has announced that the company’s affiliate, University Hospitality Group, will soon break ground on a landmark $13 million development at the University of California, Davis: a Hyatt Place hotel, which will be located across from the Mondavi Center on the UC Davis campus. Construction is set to begin this month, and the hotel is expected to open in late 2009.
.
University Hospitality Group will develop the property; Presidio Companies, a hospitality development and management company, will oversee construction and operate the new Hyatt Place hotel once it is open. 
    
The new Hyatt Place hotel will be located adjacent to the south entry quad at the I-80 entrance to UC Davis on the eastern edge the campus. In close proximity to the Mondavi Performing Arts Center, Mondavi Institute for Wine and Food Science, and the Buehler Alumni and Visitor Center, the full development will include the Gallagher Hall Graduate School of Management and Conference Center, a future art gallery, and a parking garage.
   
“The university community is excited about the groundbreaking on the hotel project. We are confident that University Hospitality Group will deliver a high quality project,” commented John Meyer, vice chancellor for Resource Management and Planning for UC Davis. “The hotel will complement the new home for the Graduate School of Management, Maurice J. Gallagher, Jr. Hall, and the conference center that are both scheduled to open next fall.”

Mary Hayakawa, executive director of Real Estate Services for UC Davis attributes the successful launch of this project -- years in the making -- largely to Presidio Companies’ creativity and innovative approach to the public/private partnership.
    
“Presidio Companies has breathed new life into this development with their unique, strategic, and innovative decision-making and planning,” said Ms. Hayakawa. “Because of their dedication, Hyatt Place will complete the new public gateway to the university.”
    
Guneet Bajwa, Chief Operating Officer for Presidio Companies and a principal of University Hospitality Group agreed.

“We are proud to catalyze this project’s culmination,” said Bajwa. “Working with Ashok Patel, a local developer and principal of UHG, and the University, we reinvigorated the development in 2006. We’ve finally reached the execution stage and look forward to ushering this long-awaited vision for UC Davis into realization with our strategic management and directorship.”

Sushil Patel, Managing Principal of Presidio Companies, learned the hotel business from the ground up, being raised and spending time in and around his father's motel and hotel properties. Sushil has worked in a wide variety of capacities from housekeeping to maintenance to the front desk. This range of experiences helped him build a strong working knowledge and extensive skill set in hospitality operations.

Sushil made his professional debut into the hotel business 
in 1998. In partnership with his father and another family 
member he acquired the Holiday Inn Select-Fairfield Inn/Napa Valley. He coordinated a renovation of that property and over a period of three years doubled the property's net operating income. In 2000, he and Edward DeLorme partnered together to form Presidio. 

As Managing Principal of Presidio, Sushil is responsible for overseeing daily operations and management at all
company properties. He is involved with every facet of the 
day-to-day management of the business including the 
company's acquisitions, human resources, customer relations, business development and investor relations.
Sushil received a Bachelor of Arts degree in History from 
California State University, Sacramento. He is an active member of the Young Presidents’ Organization. Sushil lives with his wife Elizabeth and two Siberian Huskies on a 15 acre vineyard in Napa, California. www.PresidioCo.com

.
Presidio Companies, University Hospitality Group and UC Davis anticipate the opening of the new Hyatt Place hotel in late 2009 as one that will greatly stimulate UC Davis campus perception and activity.
    
According to reports, UC Davis’ plans for the area surrounding the hotel envision a gateway that will welcome visitors, alums, and the general public to the campus and encourage university and public connections and interaction.
    
“We knew this project would be unique because of its size and scope,” continued Ms. Hayakawa. “The driving force was to create an inviting atmosphere that encourages people to experience and invest in the substance and essence of UC Davis.”
    
The Hyatt Place hotel will have 75 rooms, a strategic decision made by Presidio Companies and its affiliate when assessing best fit for the development and management of the project in the university environment.
    
“The 49,000 square foot hotel will reflect the character of the beautiful surrounding UC Davis campus,” said Sushil Patel, Managing Principal of the Presidio Companies.
    
Equity partner is Colleyville, Texas-based Realty Capital Partners. Financing for the UC Davis Hyatt project has been provided by First Northern Bank in Davis.
    
Headquartered in Fairfield, Calif., Presidio Companies seeks and acquires under-performing, franchised properties in the United States to redevelop and transform them into successful, sustainable properties. Presidio also selectively develops new build hospitality projects in high-barrier-to-entry markets. Presidio Companies has developed over $300 million of hospitality projects in the past eight years, always focusing on consistent high levels of achievement in every endeavor. The Presidio Companies services include development and construction supervision, brokerage, investment, and hotel management.
.
Presidio Companies
Deal History
www.PresidioCo.com

Holiday Inn Select – Fairfield, CA – 142 rooms. 
This hotel was acquired in July 1998. The property was converted to a Courtyard by Marriott in March 2007.

Hilton Garden Inn – Napa, CA – 80 rooms. 
The first “ground up” project built under the Presidio umbrella. Construction completed in September 2002. The hotel was sold in 2007. 

Fairfield Inn by Marriott – Rancho Cordova, CA – 116 rooms. 
Purchased in 2001. Sold in 2006. Enabled Presidio to develop a relationship with Marriott International. 

Rocklin Park Hotel – Rocklin, CA – 67 rooms. 
A boutique hotel acquired at a substantial discount to replacement cost from an offshore investor. Presidio gained experience managing a non-flagged property in a competitive market. Presidio sold its interest in the property to a local partner in 2005. 

Courtyard by Marriott-Kauai Beach Resort & Spa – Kapaa, Hawaii – 312 rooms. 
Presidio acquired this property in September 2003. Shortly after closing Presidio began a substantial $35 million renovation of the hotel and conversion to the first Courtyard by Marriott in Hawaii. Property was sold in June 2006. 

Adams Mark Portfolio – Tulsa, OK and Mobile, AL. 
Acquisition consisted of 850 hotel rooms and the 180,000 square foot Riverview Plaza Office Building. Closed in June of 2004. Adam’s Mark hotel in Mobile was sold shortly after acquisition to the Retirement System of Alabama. Riverview Plaza office building was sold in August 2005 . PHG successfully converted the Adams’ Mark in Tulsa to a Crowne Plaza and sold the hotel in April 2006.

Sheraton Fort Worth Hotel and Spa – Fort Worth, TX – 431 rooms. 
Presidio acquired the 431 room Plaza Hotel from an offshore investor and spent over $40 million transforming the property into a full service Sheraton Hotel. Opened in June 2008. Property benefits from stable and growing downtown Fort Worth economy and a key location near the City Convention Center.

.
Hyatt Place, a new kind of Hyatt for today’s relaxed lifestyle, combines The Hyatt Touch® with stylish design, purposeful amenities and forward-thinking technology. Catering to today’s discerning travelers, 130 Hyatt Place hotels are to open across the U.S. by year-end 2008. Hyatt Place is a newly developed brand of Global Hyatt Corporation. For Hyatt Place information or to make a reservation, call 1-888-HYATT-HP (888-492-8847) or visit www.hyattplace.com. From the U.S. and Canada, reservations for Hyatt Hotels & Resorts worldwide may be obtained by calling 1-800-233-1234 or logging onto www.hyatt.com.
.
Contact:

 Presidio Companies
Corporate Headquarters
1300 Oliver Rd, Suite 270
Fairfield, CA 94533
info@presidioco.com
Phone: 707.429.6000

www.PresidioCo.com

.
.
Also See: Presidio Group Including a 255 Seat Shula's 347 Grill as Part of $46 million Transformation at the Sheraton Fort Worth Hotel and Spa / January 2008
Presidio Hotel Group, LLC Spending $46 million to Renovate the Former Fort Worth Plaza Hotel to the Sheraton Fort Worth Hotel and Spa; Property Originally Opened in 1974 as the Fort Worth Hilton Inn / May 2007
.

To search Hotel Online data base of News and Trends Go to Hotel.OnlineSearch
Home | Welcome| Hospitality News | Classifieds| One-on-One |
Viewpoint Forum | Industry Resources | Press Releases
Please contact Hotel.Onlinewith your comments and suggestions.