According to William J. Hoffman, Trigild's president and founder, the firm will also manage the hotel, which has recently undergone a $500,000 renovation. During the next year, Trigild will add another $450,000 in improvements to the property including upgrades to the convention facility. The full-service resort -- which features 150 rooms, three indoor tennis courts, two restaurants, a cocktail lounge, an indoor pool, a fitness center and a 46,000-square-foot convention facility -- is the second largest convention hotel in Montana. Included in the purchase is an eight-acre lot, which will eventually be developed as an apartment complex.
"This acquisition represents a significant expansion of our investor
division, and the beginning of a new direction for Trigild, which has traditionally
focused on managing hotel properties," said Hoffman. "While we are
still primarily a management company, we are also in search of optimum
hotel investments for our clients and equity partners and are currently
in escrow to purchase two properties valued at more than $10 million. Both
will undergo significant upgrades and franchise additions."
Hoffman said all upcoming purchases would include acquiring and repositioning under-performing existing hotels and development of new hotels in select markets throughout the country.
One of the largest hotel management companies in the West, Trigild has been managing hotels for more than 20 years. The firm has operated more than 120 troubled hotels for lender clients, and is utilizing this experience in the acquisition of underperforming hotels that have a strong upside. Following a purchase, Trigild typically renovates the property and adds or changes the franchise.
Trigild is located at 12555 High Bluff Rd., Suite 330 in San Diego. For more information, please call (619) 481-6767.