NORTHBROOK, Ill., November 10, 2008 - Lane Hospitality of Northbrook,
IL, one of the nation's top hotel management companies, adept at providing
third-party management services with more than 25 years of experience managing
in challenging economic cycles, will focus its attention on third-party
management services in 2009.
According to Bill Chambers, Senior Vice President of Lane Hospitality,
"With industry experts projecting a challenging travel environment, Lane
will assist hotels to operate with strong management and leadership in
order to work through a difficult period and take advantage of the upturn
when it occurs."
Chambers continued, "Lane understands owners' concerns because as hotel
owners and investors ourselves, we have been through numerous cycles and
know how to manage through changing business environments. Our expertise,
resources and talent will help owners who may have not dealt with such
challenges to maximize performance, create long-term operating value, and
work through a tough period while preparing for the return to revenue growth
that will certainly follow."
Over the past few years, Lane Hospitality has considerably strengthened
its momentum by repositioning its portfolio with several significant acquisitions,
elevating the quality of its assets and aligning itself with the best brands
in the industry, while at the same time building its management teams and
processes.
Examples of Lane Hospitality's third-party management success stories
which have resulted in successful turnarounds, despite a challenging environment,
include:
-
Holiday Inn, El Paso-Sunland Park, TX: Lane managed this hotel through
several cycles from a challenged real estate investment in receivership
to become a top performing operation achieving outstanding guest satisfaction
and strong financial performance.
-
Doubletree, Annapolis, MD: Lane took this non-descript under branded
asset and completely refocused its operating and marketing strategies,
secured an industry leading brand and created strong architectural features
and operating programs relevant to the local market; this has resulted
in significant RevPAR and food and beverage revenue growth.
-
Crowne Plaza, Wauwatosa, WI: Working with the Crowne Plaza brand
team to design, develop and deliver what is the prototype for future new
build Crowne Plaza hotels, Lane was able to deliver a truly upscale product
at a development cost significantly below what other full service assets
are costing. Creating a product which exemplifies the brand hallmarks of
the "place to meet" has allowed this hotel to capture significant meeting,
conference and catering business within the first six months of operations.
The focus on an open design with a product that exceeds guest expectations
and a strong service delivery process has resulted in outstanding guest
satisfaction building strong repeat business and continued top line growth.
-
Hilton Hotel, College Station, TX: Lane saw this hotel through an
extensive repositioning and renovation (including an upscale steakhouse)
to once again become a market leader.
.
Holiday Inn El Paso-Sunland Park
900 Sunland Park Drive
El Paso Texas
.
Meanwhile, Lane Hospitality reports significant additions to its portfolio
in 2008 with a variety of industry-leading branded and independent hotels.
They include:
-
The acquisition of the award-winning Hilton Jackson, MS and the
Courtyard
by Marriott St. Louis, MO
-
The opening of the Crowne Plaza Milwaukee-Wauwatosa, WI (prototype
hotel), Courtyard by Marriott Gulfport, MS and Hampton Inn Gloucester,
VA
-
The complete revolution of the High Peaks Resort in Lake Placid, NY
and Hotel Indigo Chicago-Vernon Hills, IL
-
In addition, Lane Hospitality has signed new management contracts including
the Inn at Peachtrees in Atlanta, GA and the Radisson Hotel in
Carteret, NJ. The company is finalizing contracts completing the addition
of two more properties prior to year's end.
"Lane Hospitality is particularly adept at developing strong operating
and marketing strategies, implementing successful business plans, renovating,
re-branding and repositioning assets," added Chambers. "Our relationships
with the top industry brands and our track record of operating quality
hotels while protecting, enhancing and creating strong asset value ensure
our ability to provide the professional management focus owners need, especially
in this trying time period."
For additional information, contact Chambers at 847-291-5740 or [email protected].
About Lane Hospitality
Formed by the Lane family in 1986, Lane Hospitality invests in and
manages hotels with such leading brands as Hilton, Intercontinental Hotels
Group and Marriott. With regional offices located in Chicago, IL, Houston,
TX, and Newport News, VA, the company challenges its associates to strive
for those service deliveries that will best enhance the overall guest experience.
Throughout its history, Lane has consistently been recognized by such major
industry publications as Hotel Business, Hotels magazine and National Real
Estate Investor as one of the nation's top performing management and ownership
companies. For information, visit www.lanehospitality.com
.
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