News for the Hospitality Executive
Viking Hospitality Fund Developing its Second Hotel, a
New Hampton Inn & Suites in Rochester, Minnesota
|DALLAS, July 1, 2008 - Viking Hospitality Fund has announced
the development of a new 124-room Hampton Inn and Suites in Rochester,
Minnesota. The property is the second for Viking Hospitality Fund, which
was formed in September 2007 by Dallas-based Prism Hotels & Resorts,
Des Moines, Iowa-based SeaCys Holdings, LLC, and Atlanta-based Hotel Assets
Group ("Hotel AG") as a joint venture to build new select -- and limited
-- service hotel properties nationwide under the Hilton and Marriott brands.
The hotel will be located on 2.3 acres on the southeast corner of 59th Street and Bandel Road NW, near the Mayo Clinic in Rochester, Minn. Once completed in mid-2009, it will be managed by Prism Hotels & Resorts. The new Hampton Inn & Suites will operate as a franchisee of Hampton Inns Franchise LLC, a member of the Hilton Hotels family of brands, and will appeal to business travelers and visitors of the nearby medical center.
"The Rochester Hampton Inn & Suites is the second hotel development we've closed on in the past month, which we are particularly excited about considering the challenging economic conditions our country is facing," said Al Whitehouse, senior vice president of acquisitions at Prism Hotels & Resorts. "We have several more Hilton and Marriott brand hotels planned for 2008 and 2009, so the outlook is bright."
Viking Hospitality Fund is actively seeking additional sites for development throughout the country and plan to construct as many as 30 new hotels nationwide over the next three years at a rate of 8-10 each year.
ABOUT VIKING HOSPITALITY FUND
Viking Hospitality Fund
|Also See:||Prism Hotels & Resorts, Cambridge, Telemark Hotel Developers, and Hotel Assets Group form Viking Hospitality Fund, LLC; Viking Hospitality Fund to build 25-30 hotel properties, actively seeking hotel sites nationwide / October 2007|
|Viking Hospitality Fund to Build 119-room Springhill Suites by Marriott in Baton Rouge; The 119-room hotel is the first for Viking Hospitality Fund / May 2008|