Capital Hotel Selected To Manage Seven Hotels

BEVERLY, MA— Capital Hotel Management, a hotel and resort asset management and investment firm, has been retained in the past quarter to asset manage seven upscale urban hotels and conference centers. The properties, owned by three different privately-held groups, include a conference center in Pennsylvania and upscale hotels in New York, Los Angeles, Washington, D.C. and Dallas. The new asset management assignments bring the company’s management portfolio to more than 8,000 rooms since its formation in 2000. Due to the turbulent economy and hard times it is becoming more common for owners to seek third-party asset management companies, stated Capital Hotel’s CEO Ken Wilson. Capital Hotel Management is headquartered here and is a full-service asset management and investment advisory group specializing in upscale hotels and resorts. Currently, the company’s portfolio includes assets valued at more than $1 billion. The firm provides asset management and investment advisory services for such real estate investor groups as Blackacre Capital Management LLC and General Motors Corp., and others. CHM currently asset manages 18 properties in California, Washington, D.C., Florida, Georgia, Hawaii, Illinois, Michigan, New York, Pennsylvania, Texas, and the U.S. Virgin Islands.