Vantage Hospitality's Membership Brand in the Upscale Segment
CLEVELAND, Sept. 21, 2006 - Steve Belmonte is the new CEO, President, and Partner of The Lexington Collection, Vantage Hospitality's new membership brand hotel in the upper-mid to upscale lodging segments, according to Roger Bloss, CEO and President of Vantage Hospitality, an Inc. 500 company and the 12th largest hotel company worldwide.
Announced at a special press conference during the annual Lodging Conference in Phoenix, AZ, Belmonte, who is now an equity partner in the company, will be responsible for directing the brand that was established in the second quarter of 2006 and currently has 12 properties open or under contract throughout the United States.
Belmonte served as CEO and President of Ramada and was instrumental in growing the company from 450 properties to over 1,000 in just 11 years. He also served as the Executive Vice President of Cendant's Hotel Division. Belmonte is widely recognized as an advocate of fair franchising -- working with individual hotel owners to obtain fair and equitable agreements through his company, Hospitality Solutions LLC.
"It is time I put my money where my mouth is," said Belmonte. "I have seen first hand the increase in dissatisfaction with 15-year contracts, outrageous contract and royalty fees, high costs involved with transfer clauses, termination fees, and the amenity creep. There is an incredible need for a three to four star hotel brand that has the hotel owner's interest at heart and I firmly believe The Lexington Collection will quickly become a leader in the industry."
The Lexington Collection is the only membership based hotel brand in the upper-mid to upscale lodging segments. Based on the innovative Freestyle Membership Model developed by Bloss, the brand provides owners of three to four star hotels with an affordable alternative to franchising that includes low fees, short-term contracts, no liquidated damages, a voice and a vote in the brand's direction, and a choice of amenities to meet individual market demands.
"The Lexington Collection provides hotel owners with everything they expect from a nationally affiliated brand without all the trappings," said Belmonte.
Belmonte will remain the CEO of Hospitality Solutions, LLC, but has promoted Tom Giuliano to the position of Senior Vice President to head up the company's day-to-day operation.
Christine Thome, PR Director
|Also See:||Since its Founding in 1999, America's Best Value Inn has Grown from Six to More than 650 Hotels; Personal Integrity of the People Behind the Company a Key to Growth / July 2006|
|Joint Venture Creates Two Membership Hotel Brands in China - Chinas Best Value Inn and Lexington Collection / August 2006|