ENGLEWOOD, CO HOTEL BUSINESS. has learned Destination Hotels & Resorts, based here, will open a 200-room all-suites property in Cleveland, OH, by 2003.
Cleveland has a Ritz-Carlton and it falls off pretty quickly from there, said DH&R president/CEO Charles Peck. This is a very well-located site right in the heart of downtown near the courthouse. The property will be part of a mixed-use development.
Peck said the vision for the new-build property is to be the highest quality independent hotel in Cleveland. The developer there was most interested in hooking up with someone who could establish that independent identity and found themselves on our doorstep. Tony Milam of the Buckherd Group will develop the property.
Peck said DH&R is going into the market for a whole variety of reasons. Cleveland as a city has not seen some of the overbuilding and continued hotel developments. There s exceptional opportunity for a well-positioned property. Our responsibility is to help them design the hotel correctly and help it through the development process and then open and operate it.
DH&R currently has a 28-property portfolio of independent luxury hotels, full-service spas and golf courses, and will be opening two properties in Boston in 2002. It plans to hit the 50-property mark by 2006, according to Peck.
We re watching market trends and dealing with any issues that are popping up. The climate today has been good for us so far this year, but it s a very jittery climate… so we re watching that carefully. There s no substitute for minding the store, because without that we re not going to achieve the growth plan, said Peck.
(4/25/01) Stefani C. O Connor