Oaktree Capital Management and Hostmark Turnaround the Lake Lawn Resort in Delavan, Wisconsin / Sept

/Oaktree Capital Management and Hostmark Turnaround the Lake Lawn Resort in Delavan, Wisconsin / Sept

Oaktree Capital Management and Hostmark Turnaround the Lake Lawn Resort in Delavan, Wisconsin / Sept

|1999-09-01T00:00:00+00:00September 1st, 1999|

Hotel Online Special Report Oaktree Capital Management and Hostmark Turnaround the Lake Lawn Resort in Delavan, Wisconsin SCHAUMBURG, Ill. – Hostmark Hospitality Group is pleased to announce that corporate business at Lake Lawn Resort was up 30 percent almost every month during the past year and occupancy was up 10 to 20 percent, depending on the month.

Oaktree Capital Management took over the 120-year-old Lake Delavan, Wis. property in 1996.

Hostmark was awarded the management contract because it has successfully managed other properties for Oaktree. Hostmark then undertook a turnaround campaign for the underperforming asset.

“Our strength is operations and as a third-party manager we are pleased to be able to improve occupancy and the bottom line for our clients such as Oaktree Capital,” said Bud Cataldo, chairman and chief executive officer. “We succeed when assets such as Lake Lawn begin to perform to full potential.”

A $10 million renovation was undertaken to breathe new life into the 284-room golf resort and add business amenities and redesigned meeting rooms to make it appeal to corporate clients. The revitalized meeting area included a new sound system and state of the art audio/visual equipment, pre-function reception areas, more flexible meeting space and a business center offering computers, modems, fax machines and copiers in the conference center.

However, the money spent on sprucing up the resort was only one part of the turnaround story. A reorganization of the sales staff to include conference services makes it easier for meeting planners to do their job. Additionally, a new chef and exciting recreation, health club and spa facilities added to the appeal of the resort.

Of course, the additions of a lakeside golf driving range, paved golf cart paths and a trained dog to control the geese on the golf course were also perks popular with business groups. These changes resulted in the Golden Links designation from Corporate Meetings and Incentives, which also gave the facility its coveted “Outstanding Meeting Services” award.

In addition to the 18-hole golf course, there is miniature golf, tennis, softball, basketball, a marina, stable, petting zoo, spa and private airport on the 275-acre resort situated on Delavan Lake, just eight minutes from Lake Geneva, Wis.

Hostmark Hospitality Group is the largest privately held third-party hospitality management and development firm in the country, operating more than 41 hotels and resorts worldwide. Founded in 1965, Hostmark is a full service management firm providing sales and marketing, human resources, food and beverage operations, accounting, finance, information systems, construction, design, development support and consulting services to full-service and limited-service hotels, resorts and conference centers in the United States, Canada and the Middle East.

Headquartered in Schaumburg, Ill, Hostmark has regional offices in Orlando, Fla., Washington, D.C., Denver, Colo. and Cairo, Egypt.

Contact: Karen May or Jane Kaplan 847/564-9922 www.hostmark.com Also See: Hostmark Appoints Marsh Nolan and Scott Richter to Executive Sales Positions / Sept 1999 Hostmark Changes Name, Expands Presence in the Western U.S. / April 1999

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