|Schaumburg, Ill. - May 18, 1999 - Hostmark Hospitality Group
announced increases in revenue margins for the first quarter of 1999 with
a REVPAR increase of 11.6 percent over the same period last year.
The average rate for the combined 42 hotels and resorts within the company increased 5.1 percent over 1998. Overall gross operating revenue was up 4.8 percent over 1998.
Hostmark Hospitality Group has been awarded the contract to manage the Gunter Hotel in San Antonio, Texas. Houston Street Hotel Partners L.P., a venture of ING Realty Partners L.P. purchased the hotel. ING Realty Partners is an entrepreneurial real estate investment entity primarily focused on real estate investments in the United States and Canada.
The 322 guest room and suite hotel is one of the most historic landmark properties in San Antonio. The rooms, decorated in cattlemen's club style, are all updated for the convenience of the business traveler. The Gunter, located at the corner of Houston and St. Mary's Streets, 100 yards from the famous Riverwalk and four blocks from the Alamo, offers a complete fitness center, outdoor heated swimming pool and whirlpool, The Café, serving 3 meals a day and a European style patisserie offering sandwiches and pastries.
Hostmark Hospitality Group is the largest privately held third-party
hospitality management and development firm in the country, operating more
than 41 hotels and resorts worldwide.
Hostmark has achieved solid results for clients such as ING Realty Partners, Oaktree Capital Management, CIGNA, Metropolitan Life and GE Capital. Franchises represented include Marriott, Hilton, Sheraton, Radisson, Omni, Embassy Suites, Crowne Plaza, Hawthorn Suites, Ramada, Holiday Inn, Howard Johnson, Days Inn, Choice Hotels and independent resorts.
Headquartered in Schaumburg, Ill, Hostmark has regional offices in Orlando, Fla; Washington, D.C.; Denver, Colo; and Cairo, Egypt.
|Also See:||Marcus Debuts Baymont Inns & Suites - The Re-branding and Re-positioning of Budgetel Inns / Jan 1999|
|Name Change from Budgetel Inns to Baymont Inns Designed to Improve RevPAR by Expanding the Customer Base and Increasing Franchise Development / Sept 1998|