SALISBURY, MD—Marshall Hotels & Resorts has signed six new-build hotels and a standalone spa to its construction pipeline, and added two new management contracts, in the second half of 2016. Once completed, the company’s portfolio will grow to 60 hotel contracts year-to-date.
“With eight properties in the pipeline and 14 new third-party hotel management agreements signed in the first half of 2016, combined with these additional eight hotels and a spa, we will post a record growth year,” said Mike Marshall, president and CEO. “Our full suite of proven hotel management services, including staff training, construction oversight and pre-opening through long-term planning and asset sale, provides owners with the confidence that all phases of the hotel’s lifecycle are covered.
“Although the industry as a whole has rebounded nicely over the last few years, a substantial number of hotels, whether performance- or market-related, have not fully optimized revenue and profit opportunities,” added Marshall. “As industry growth moderates, these owners seek stronger management companies with proven track records, providing companies like ours with exceptional growth opportunities during this phase of the hotel industry cycle.”
The properties added to the company’s pipeline and currently under construction include the following:
• 96-room Bernic Boutique Hotel in Manhattan, NY
• 75-room Microtel Inn & Suites in Long Island City, NY
• 87-room Ascend Hotel Brooklyn, NY
• 57-room Best Western Brewster, NY
• 40-room Curio by Hilton West Chester, PA
• Spa Castle Premier 57 in Manhattan, NY
Additionally, Marshall added the following contracts to its portfolio of third-party managed hotels:
• 163-room Heritage Hotel & Conference Center in Southbury, CT
• 150-room Hampton Inn and Suites in Yonkers, NY
“We have helped develop more than 25 properties over the last decade,” Marshall noted. “These properties are located in the Northeast Corridor, one of the most challenging construction regions in the country. We have a strong track record of completion on budget and look forward to completing these projects in 2017 and ramping up quickly. We also have been involved in spa operations and development for more than 10 years and see continued growth opportunities in this sector.”
The company also has signed additional management agreements currently in the early development stage, which are expected to get underway in 2017 or 2018. Marshall also noted that two properties the company recently opened, the Hampton Inn & Suites Ephrata and the Hampton Inn & Suites Mt. Joy, both in Pennsylvania, recently sold.