|PHILADELPHIA, Pa. – (January 29, 2008) – National Hospitality
Holdings LLC (NHH) and CMS Companies (CMS) announced a joint venture that
will opportunistically acquire upscale to luxury hotels and resorts. The
joint venture is part of a comprehensive strategy to aggressively pursue
the acquisition of independent and branded properties in the top 25 hospitality
markets. Repositioning opportunities will be targeted where capital improvements
are required and a fresh management approach is needed. Brand and or independent
alternatives will be considered.
The company’s investment advisory division helps select institutional investors
navigate the hotel, resort and casino investment landscape. In December
2007, NHH surpassed $3 billion in investment advisory assignments.
|“National Hospitality Holdings and
CMS Companies have ramped up acquisition efforts,” said John J. DePaul,
president and CEO of NHH. “We have been sellers for the past few years
and now have re-entered the acquisition marketplace. The capital markets
meltdown and the slowing economy have deflated the sellers market, creating
an opportunity to invest for low leveraged, cash buyers.” DePaul is a 26-year
hospitality industry veteran, having previously served as vice chairman
and CEO of Melrose Hotel Corporation. He also held executive positions
with The Ritz-Carlton Hotel Company and Hilton Hotels Corporation. DePaul
added, “CMS is a savvy, long term investor in the hospitality industry.
Together, National Hospitality Holdings and CMS will bring tremendous synergies
to the real estate investment marketplace.”
NHH’s newest division, acquisitions and direct investments, will focus
on upscale full service, independent or branded repositioning opportunities.
NHH’s asset management division oversees a portfolio of 6,555 rooms
in 16 states. The majority of these hotels are upscale to upper-upscale.
Newly appointed Vice President of Asset Management David A. Brewer will
manage the division.
John J. DePaul, President and CEO
of National Hospitality Holdings LLC
About National Hospitality Holdings
National Hospitality Holdings LLC (NHH) is a boutique investment advisory
and consulting firm specializing in the hospitality industry. Since its
inception in March 2006, NHH has consulted on more than $3 billion of assets.
NHH provides effective, strategic leadership and direction, whether it’s
representing owners at the preferred equity level, partnering with investment
banking firms providing advice to internal clients or conducting due diligence
and underwriting for prospective investors. For more information please
visit www.nhhllc.com .