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Guest Suites at Busch Gardens/U.S.F Tampa, Florida |
 San
Diego, CA (November 26, 2001) � Pacifica Companies and Pacifica Host Hotels
(the hotel management arm of Pacifica Companies) acquires their first hotel
in Florida. The 128 room Doubletree Guest Suites was purchased on
November 9, 2001 from FELCOR Lodging Trust of Irving, TX. The hotel
will remain a Doubletree Guest Suites and undergo a renovation including
hard and soft goods and work in the common areas.
Entrance in to the Florida hotel market has been a long time coming, and to enter now was a big step given current market conditions said Deepak Israni, Sr. Vice President. According to Ash Israni, President/CEO of Pacifica Companies �We have been looking to buy a hotel in Florida for the past three years�. �We hope this transaction is the first of many in Florida�. Pacifica Companies is a privately held diversified real estate ownership and management company based in San Diego, CA. Total assets owned by Pacifica are in excess of half a billion dollars. Pacifica�s hotel properties are located in California, New York, Arizona, and Kansas. Pacifica�s strategic competitive advantage is developing and re-positioning undervalued real estate. |
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Pacifica Companies Deepak Israni 1785 Hancock Street, Suite 100 San Diego, CA 92110 (619) 296-9000 |