|
|
Ft. Lauderdale, Florida --Aug 4, 1998 -- The Asian American
Hotel Owners Association (AAHOA) Board of Directors has unanimously approved
First Sierra Financial, Inc.�s proposal to develop, implement and underwrite
an FF & E leasing program exclusively for AAHOA members.
AAHOA members currently own over 640,000 hotel rooms nationally, representing 50% of the economy lodging sector and 30% of all hotels. This is the fastest growing segment of the hospitality industry and closely parallels First Sierra�s Hospitality Capital Group targeted markets Mike Patel, Chairman of AAHOA�s Board, said, �Developing this strategic alliance with First Sierra enables us to customize a simple and competitive leasing package, not readily available to our members until now.� Fred Schwartz, Executive Director of AAHOA, stated, �After reviewing similar programs that First Sierra has in effect with other national hotel and vendor organizations, we feel First Sierra can provide the experience, dedication, competitive rates and customer service our membership requires.� Gerry Davis, First Sierra�s Hospitality Group Director, added, � This
agreement allows us to take an even more aggressive posture in working
with AAHOA members. In addition, we can design special financing
programs with AAHOA endorsed vendors. This is a very exciting agreement
and should prove to be a very rewarding association for AAHOA, First Sierra,
and most importantly, the members of AAHOA.�
|
|