News for the Hospitality Executive
Schaumburg, IL, September 16, 2009—Hostmark Hospitality Group, one of the nation’s largest third-party hotel management companies, has been named the third-party operator for two hotels in Saginaw, Michigan: Four Points by Sheraton and Holiday Inn Express. The addition of these hotels to Hostmark’s management portfolio brings the total to 5 properties that the third-party management firm has added in the past 60 days. Throughout the management company’s history, the firm has been selected to provide services in more than 130 asset bankruptcies, foreclosures, and receiverships.
“Hostmark Hospitality Group has earned its reputation as an industry expert at stabilizing and turning around underperforming properties,” says Jerome Cataldo, President, Hostmark Hospitality Group. “For more than 40 years, owners have turned to us to manage their properties because our experienced, focused and aggressive management team can successfully implement integrated solutions that maximize asset potential.”
Hostmark Hospitality Group has applied their extensive experience with distressed assets in creating a tailored program called SOS (Stabilize, Operate, Sell). “The SOS program begins with a comprehensive property assessment, stabilizing the human capital and demand variables,” Cataldo continues, “leading to evaluation and recommendations for the property’s physical plant; hotel operations and marketing; creation of a detailed operating budget; formulation of an appropriate business plan; plus staff assessment and alignment.”
“Operating a distressed asset requires a proven skill set that addresses the unique situation and returns asset value,” concludes Cataldo. All findings and data are communicated to the financial institution or owner on an ongoing basis through ProfitMark®, Hostmark’s proprietary information intelligence portal.
About Hostmark Hospitality Group
Hostmark Hospitality Group (www.hostmark.com) is a leading hospitality management firm operating upscale full service hotels, resorts, focused service hotels and restaurants worldwide. Headquartered in Schaumburg, IL, with Development offices in Boulder, CO, and Cairo, Egypt, Hostmark Hospitality Group is an award winning operator of Marriott, Hilton, Intercontinental Hotels Group, Starwood and Wyndham Hotels. Under consistent leadership spanning more than four decades, Hostmark Hospitality Group operates independent boutique hotels as well as other luxury resorts, attractions and concept restaurants. Hostmark Hospitality Group has a proven longstanding reputation for performance-driven results through superior operating and asset management.
Hostmark Hospitality Group
||Hostmark Hospitality Group Well-Positioned For Growth, Despite Sector Downturn Company’s Experience with Distressed Properties Will Be Key / March 2009|