“The Time is Right for Acquisitions"
|Seattle - December 15, 2003 - The Hotel Group (THG) announced its intention
to purchase up to six full-service hotels in 2004 to add to its current
portfolio of 26 owned and/or managed properties. The company is committed
to acting quickly on all viable opportunities discovered, via an exclusive
partnership with Hotel Realty Advisors (HRA).
THG has a successful record of producing high average annual rates of
return for its investors. Its acquisition strategy is to buy under-performing
full-service properties with 125-400 rooms in secondary, suburban and tertiary
markets. These properties are then renovated, re-positioned and/or re-branded
during the first year of ownership.
Recent purchases include the 317-room Hilton - Knoxville, which is undergoing extensive remodeling and the recently re-flagged and 227-room Radisson - San Antonio Airport also currently undergoing renovation. THG’s new management contracts include four newly opened properties as well as four properties that are under construction.
HRA has worked with The Hotel Group on numerous projects. It was established in 1996 as a hotel acquisition, brokerage and consulting firm, and has sold or financed over $200 million in hotel and other real property.
Established in 1984, The Hotel Group, Inc. owns and manages 26 properties in 9 states including Alaska, California, Washington, Texas, Arizona, Oregon, Idaho, Montana and Tennessee. The company currently has 10 different franchise brands in its portfolio including Comfort Inn, Courtyard by Marriott, Doubletree Club, Hampton Inn & Suites, Hilton Hotels, Hilton Garden Inn, Holiday Inn, Holiday Inn Express, Radisson, and Sierra Suites. The Hotel Group is headquartered in Edmonds, Wash. with regional offices in Scottsdale, Ariz., Spokane, Wash., and Nashville, Tenn.
The Hotel Group, Inc.
|Also See:||The Hotel Group, Inc. Acquires the San Antonio Airport Doubletree Club; Reflags to Radisson / October 2003|
|The Hilton Knoxville Acquired by The Hotel Group, Inc. / Mar 2003|