AFM Planning Major Expansion

TORONTO— HOTEL BUSINESS® has learned that AFM Hospitality Corp. has plans to grow its management portfolio from 26 properties to about 60 hotels by the end of 2002. After ending 2000 with only 14 hotels under its management, AFM made several strategic growth plans, including the addition of a new management subsidiary— Northwest Lodging International— at the end of 2000. AFM is continuing with its rapid expansion and plans to ink an additional 17 management contracts by the start of the third quarter 2002. “By the end of 2Q, we expect to have over 40 properties,” said Stephen Phillips, vice chairman/CEO of AFM. —Diana M. Rodriguez