(Salisbury/Maryland, USA – 18 March 2013) Officials at Marshall Hotels & Resorts, Inc., a leading hotel management and services company that operates properties nationwide, announced that it has added three management contracts. The properties include two in Manhattan and one in Mt. Laurel, N.J.
“We are seeing increased hotel management opportunities as more hotels change hands and investors seek higher returns on their investments,” said Mike Marshall, president and CEO. “The two new Manhattan additions bring to five the number of properties we operate or are in pre-opening in the greater New York City area.”
The hotels include:
- Grand Union Hotel—The 88-room boutique property is located at in Midtown Manhattan at 34 E. 32 Street, two blocks from the Empire State Building and nearby to Madison Square Garden and Macy’s Herald Square. Marshall is working with the owner to upgrade the hotel and will oversee the renovation.
- Hilton Garden Inn—The 232-room, under-construction property is located in Midtown Manhattan. It is Marshall’s second Hilton Garden Inn in the New York metro area. Marshall will be responsible for pre-opening activities, as well as management upon the property’s opening, which is scheduled for the second quarter of 2014.
- Comfort Inns & Suites—The 90-room Comfort Inn and Suites is located in Mt. Laurel, N.J. “We have a long history operating hotels in the greater Philadelphia market and look forward to adding value to this property,” Marshall said. “We just completed overseeing a major renovation of the hotel and it already is gaining market share.”
“We see strong growth potential across the country for our third-party management business and are in active negotiations with a number of hotel owners,” he added. “While it is still early in this phase of the real estate cycle, we are seeing a growing interest in development, an area where we have significant expertise.”