Marshall Hotels & Resorts Becomes Manager for Three Hotels, Receivership for Another
Marshall Hotels & Resorts Inc. has signed contracts to manage three hotels and was also appointed to become the receivership for another resort.
The first property acquired is the Crowne Plaza Hartford-Downtown Hotel, which is located near the Dodge Music Center, the XL Center and the Connecticut Convention Center. Features of the 350-room hotel include a 24-hour business center, 8,815 square feet of meeting space, fitness center and outdoor pool and an onsite restaurant and bar.
Another hotel that is part of the contract is the Ramada Plaza in Hagerstown, Md. The 158-room hotel contains a heated indoor pool with a sauna, a full-service restaurant and lounge, a fitness center, business center, and 7,060 square feet of meeting space.
The third hotel in the contract is the 160-room Best Western Deltona Inn in Florida. The hotel is near 23 golf courses and is centrally located between Orlando and Daytona Beach. Features of the hotel include an onsite restaurant, exercise facility and outdoor pool.
The Salisbury, Md.-based company was appointed as receivership for the 125-room Comfort Inn Hotel in Hunt Valley, Md., which features an onsite business center, meeting rooms and fitness center. This hotel is located near Pimlico Race Course, the site of the annual Preakness Stakes, the Maryland State Fairgrounds and Baltimore/Washington International Thurgood Marshall Airport.
Mike Marshall, president and CEO of Marshall Hotels & Resorts, said the company plans to add 10 new contracts this year.
“We expect to see a significant uptick in the number of properties either being sold or placed into receivership this year,” said Marshall. “Many properties have suffered significantly from the downturn and need capital and reinvigorated management with a clear-cut plan to take advantage of all the opportunities that the rebound is creating. While a strengthening economy will positively impact all hotels, we believe that we still have a volatile operating environment that requires the right management and plan to break out from local market comp sets.”