News for the Hospitality Executive
|Glendale, Ariz. — April 4, 2007 — Richard E. Takach, president
and CEO of Vesta Hospitality, L.L.C., today announced plans for developing
two hospitality properties, Staybridge Suites and Holiday Inn Express &
Suites, in Glendale, Ariz., a Phoenix suburb.
The 83,435 square-foot Glendale Staybridge Suites and the 53,923 square-foot Glendale Holiday Inn Express & Suites will feature a total of 212 units.
Scheduled for December 2007 openings, the two hotels are adjacent properties, located at the intersection of Cabela Drive and Zanjero Blvd, one block off Glendale Avenue in the emerging Glendale Entertainment District. Within walking distance of the hotels are many restaurant, retail and entertainment options, including Cardinals Stadium, the Glendale Arena, a 20 screen Loews Cineplex, Cabela’s, Gordon Biersch Brewery, Garduño’s Margarita Factory, the Yard House, as well as many others.
The Glendale Entertainment District represents a new development area within the city of Glendale, with governing design principles dictating upscale building construction and architectural design. The design of the Glendale Staybridge Suites and Holiday Inn Express & Suites will exceed minimum brand standards and incorporates a resort pool with lush landscaping, an entry river with fountains, and extensive stonework complementing different shades of stucco with decorative iron work.
“We’ve had our eye on the Phoenix market for some time, and we’re pleased to have identified these opportunities in Glendale as matching our investment criteria,” said Takach. “With the critical mass of the entertainment and retail facilities, both existing and planned, this area is positioned to become an extremely popular destination in the west. We’re pleased to take part in the region’s growth.”
Founded in 1996 as Northwest Hospitality Group, and headquartered in Vancouver, Wash., Vesta Hospitality, L.L.C. is a fully integrated hospitality development and management entity. Currently, Vesta Hospitality’s portfolio includes 12 properties, six owned and self-managed, and six others managed for other ownership entities, including Acacia Housing Partners, L.P. and Columbus Hotels Properties. The company is actively seeking acquisition opportunities and expects to add three to five additional properties to its portfolio over the next 12 months. Through ownership and management, Vesta Hospitality’s states of operation now include Washington, Oregon, Utah, California, New Mexico, Nebraska, Texas and Georgia.
Vesta Hospitality, L.L.C.
|Also See:||Expanding Geographic Reach Prompts Northwest Hospitality Group to Operate Under New Name - Vesta Hospitality / January 2007|
|Mark Hemmer Named Vice President of Operations for Hotel Development and Management Company Vesta Hospitality / January 2007|
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