| VANCOUVER, B.C. - Aug. 1, 2000 -- Executive
Inn Group (EIG) (CDNX:EIG.) of Vancouver is Canada�s fastest growing hotel
brand, according to an award presented in July by Foodservice and Hospitality
magazine, an authoritative 30-year-old national trade publication.
The publication�s annual survey of the leading foodservice and hotel
chains in Canada shows that EIG rose nearly 30 places in the Top 100 list
for 2000.
In 1999, EIG ranked 92 and, in the most recent survey, the company ranks
65. Over the survey period, EIG�s consolidated revenues more than doubled
to $65 million and its branded properties grew from 10 to 18.
�This award is more evidence that our new brand expansion plan is on
target,� says EIG president Salim Sayani. �We are thrilled to be a growing
and more recognized player on the North American hospitality scene and
we�ll be adding several more properties to our chain in the next 12 months.�
| Key to EIG�s recent expansion is its acquisition
last year of 19.7% of Calgary-based HARS Systems Inc., which in turn owns
VIP International Corporation. VIP provides global reservations services
to 3,400 international independent hotels and car rental companies in 68
countries and, in 1999, processed more than $180 million of hotel and car
rental reservations. In July, Sayani became Chairman of the Board
at both HARS and VIP and assumed the co-CEO responsibilities with president
Kelly Blake.
Meanwhile, in a joint venture with VIP, EIG has rolled out its exclusive
Executive Hotels & Resorts brand (formerly Executive Inn Hotels &
Suites) to VIP�s independent clients. And through conversions to its brand,
EIG expects to add several high-calibre properties under its Executive
Hotels & Resorts marquee by 2003.
�Our recent growth has also inspired our brand name change to Executive
Hotels & Resorts, which describes our growing portfolio of high-end
and resort properties more accurately,� says Richard Brodeur, a former
NHL star goalie and hospitality industry veteran who joined the EIG corporate
management team in July. �It�s great to be part of a dynamic, fast-growing
and high-quality hotel company that has a global reach and vision.� |
|
Executive Inn
Hotels and Suites
The Executive Inn chain of hotels has traditionally operated
within the full service hotel market with an emphasis on the corporate
and leisure traveler and the profitable convention market. A viewing of
the chain�s properties can be found within this website.
The Executive Inn Hotels and Suites chain has a mix of
property types in terms of quality level, amenities, and room size to cater
to three broad market segments, the budget, mid and upper tier markets.
It has predominantly catered to the mid and upper tier market with full
service hotels offering all suites or a mix of standard guest rooms and
suites. The Executive Plaza product caters to the upper tier market, the
Executive Inn to the mid tier and the Executive Express product is targeted
at the fast growing limited service market.
Executive Inn Hotels & Suites has a proven track record
in successfully establishing hotels in growing markets, and in providing
innovative and effective reservation systems and sales and marketing to
all affiliates branded within the chain. The chain has established
a reputation amongst hotel guests for premiere service and high quality
accommodations. The chain benefits from a high level of repeat business
averaging 60% overall and as high as 80% in individual hotels.
Financially Executive Inn Hotels & Suites has been
successful in improving the profitability of its properties year over year
Reservation contribution from Executive�s reservation system averages from
22% - 35% of occupied rooms which is a direct result of Executive Inn brand
affiliation.
|
|
 EIG,
which trades on the Canadian Venture Exchange, is a hotel branding, marketing
and management company engaged in the development of hotel licencing agreements
under the Executive Hotels & Resorts brand name. Executive Hotels &
Resorts is a rapidly growing hotel chain with more than 2,200 guestrooms.
The Canadian Venture Exchange has neither approved nor disapproved of
the information herein. |
