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Management to Manage the Park Hotel, Located in Virginia, County Cavan, Ireland |
| SALISBURY, Md., February 9, 2003 � Marshall
Management, Inc., a leading mid-sized management company, today announced
that it has signed its first management contract in Europe. The 43-room
Park Hotel, located in Virginia County Cavan, Ireland is 50 miles northwest
of Dublin. Baltimore International College (BIC), a leading institution
that offers culinary and hotel management degrees, own the property.
�This is the third property we manage for BIC and our first in Europe,�
said Michael Marshall, president of Marshall Management. �It is a
unique property with excellent upside potential. In addition to being
a traditional hotel, it offers upscale food and beverages and acts as a
training group for the college�s culinary school.�
The Park Hotel Virginia County Cavan, Ireland . �Our initial goal is to reposition the property to attract a wider patronage,� said Marshall. �We will blend the best of American and European marketing programs. Our goal is to attract mid-week training clientele and expand our tour and wedding business on the weekends. We also will work more closely with the local community to highlight the hotel�s outstanding food and beverage program. �We expect to add between five and 10 new contracts in 2004 and have the infrastructure in place to comfortably handle this level of growth,� he said. �We continue to seek full-service and limited-service properties, in urban, suburban and resort settings.� Marshall said that his company is seeing significant activity in requests for changes in hotel management from two sources. �First are hotel owners who seek quality management not only to stabilize properties that suffered during the recent downturn but to optimize opportunities as the economy begins to recover. The second source is from hotels that are changing owners, which is becoming more prevalent as the hotel real estate market begins to heat up,� he noted. Marshall said that the company acquired its third assignment from BIC based on Marshall Management�s performance at the college�s other two properties. �We took over the Mount Vernon Hotel, located in Baltimore, in July 2003 and improved revenue per available room by 67 percent in six months. All of the properties we managed in 2003 performed well, despite the difficult economy.� Marshall Management, founded in 1980, has special expertise in operating three- and four-star branded hotels and resorts, averaging 100 to 400 rooms, in urban and central business districts, suburban/drive-to and resort locations. In addition, the company has a proven track record managing independent resort properties. Located in Salisbury, Md., the company has managed a wide array of leading hotel brands, including Hilton, Sheraton, InterContinental Hotel group, Choice and Cendant. |
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Marshall Management www.marshallhotels.com |