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Quorum Hotels & Resorts To Assume Management of Sheraton Pleasanton; Pleasanton, California |
 DALLAS (June 15, 2009) – Quorum Hotels & Resorts, a
leading independent provider of customized hospitality management
solutions, has announced its latest hotel management engagement, the
Sheraton Pleasanton. Quorum will operate the hotel, located in
Pleasanton, Calif., on behalf of the institutional lender which
acquired the property through foreclosure this month.“Quorum has been, first and foremost, a hotel turnaround specialist. Our job is to recreate value for our clients through a combination of leadership and physical improvements,” said Ted Mosley, president & COO of Quorum Hotels & Resorts. “During these challenging economic times, owners are looking for groups that have been through real estate cycles and understand how to reposition assets like the Sheraton Pleasanton. Our knowledge base and track record reflect that.” Beginning this month, Quorum will oversee renovations at the Sheraton Pleasanton, its 10th operational assignment for a lender in the last 10 months. These renovations not only will give the hotel a more comfortable, contemporary look but also create operational efficiencies. “We are pleased to have Quorum Hotels & Resorts as our new manager,” said Michael Smith, the Sheraton Pleasanton’s ownership representative. “Quorum brings a strong level of professionalism and deep industry experience that we feel will greatly benefit the hotel.” Originally constructed in 1985, the Sheraton Pleasanton is a full-service, 170-key hotel with more than 4,000 square feet of flexible meeting space, a 44-seat restaurant that overlooks an 11,322 square-foot outdoor pool area, a bar and lounge, and a spa and fitness center. It already has undergone approximately $4.6 million ($27,100 per key) in property renovations since 2005. To learn more about Quorum Hotels & Resort, visit www.quorumhotels.com. For additional information about the Sheraton Pleasanton, visit www.Sheraton.com/Pleasanton. About Quorum Hotels & Resorts Quorum Hotels & Resorts is a leading independent provider of customized hospitality management solutions. Founded in 1987, the company has demonstrated expertise and superior customer service/focus in hotel management to more than 160 full service hotels (including 40 that were REO), representing in excess of 50,000 rooms. These core areas of expertise – including hotel management, asset management, advisory services, and hotel recovery services – have enabled us to become industry knowledge leaders, particularly within the realm of hotel workouts. In turn, our portfolio of first class and luxury properties has grown steadily to a value surpassing $850 million. For more details or to speak with one of our experienced team members about any of our value added services, call (972) 458-7265 or visit www.quorumhotels.com. |
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Mark Brinkerhoff Moroch | PR (214) 520-5635 [email protected] Quorum Hotels & Resorts Contact: Natalia Malek Senior Analyst (972) 778-9625 [email protected] |