Michael Marshall
"In addition to taking over and turning around properties, we are heavily involved in the development and pre-opening activities for our owners," says Michael Marshall, the company's president and CEO."With the economy slowing and owners seeking to optimize return on investment, we expect to see additional business opportunities over the short-term," he adds.
Besides the nine new contracts, Marshall Management has contracts for nine additional properties currently under development. Two have scheduled openings in the first quarter of 2009; three are expected to open in the second quarter of next year; and the rest will open later in the year.
Marshall says his firm has "special expertise in opening three-star and four-star branded hotels and resorts, averaging 100 to 400 rooms in urban and central business districts, suburban/drive-to and resort locations."
Among the brands in Marshall Management's portfolio are Hilton, Starwood, InterContinental Hotel Group, Hyatt, Choice and Wyndham.
The new contracts expand the company's portfolio to 44 open properties and 11 in various forms of development.
"We have strategically added 35 percent more properties to our portfolio in strong markets and aligned with some of the industry's top brands, while providing the detailed, individualized services that have become our hallmark," says Marshall.
He says "the 2008 growth spurt is a part of Marshall Management's planned development, which will extend the company's geographic presence along the East Coast and Midwest, diversify its portfolio and showcase its breadth and depth of skills as an owner and manager."
He adds, "We've increased our portfolio size while still maintaining a high level of personalized service, but remain firmly committed to be a mid-sized management company with a portfolio in the 40-to-60-property range.
"This has allowed us to carve out a niche that sets us apart from other management companies."
The nine contracts include:
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