Park Plaza International Acquires Rockresort Brand

SCOTTSDALE, AZ? Park Plaza International LLC, acquired the Rockresort luxury hotel brand and announced that it will convert four of its resort properties to the flag immediately. Rockresorts will become a part of Park Plaza?s stable of brands with the creation of a new full-service division within the company, which will encompass both company-owned and franchised Park Plaza hotels and Rockresort hotels. This full-service arm of Park Plaza will be operated separately from its economy Park Inn hotels. It is being headed up by Eric Prevette and Carlos Lopes, previously co-managing directors of Unique Hotels & Resorts, who will act as president and vice president respectively. According to Michael Medzigian, president/CEO of Park Plaza International and a managing director of Olympus Real Estate, the acquisition is a result of the company believing strongly in the unique upscale hotel market niche. ?We had committed to pursuing that business some time ago. We already acquired properties to fit a five-star brand name. Now what we are doing is bringing these assets together with a strong management team and a well known banner,? said Medzigian. The strategic initiative will be to restore the Rockresort name with a portfolio of unique five-star resorts in unparalleled locations throughout the United States and internationally. Four unique hotels that Park Plaza currently manages will be converted to the Rockresort brand over the next 60 days. These include: Cheeca Lodge in the Florida Keys, a leading resort in that market with 70% repeat business; La Posada Resort and Spa in Santa Fe, NM, which is undergoing renovations and will reopen in August; Rosario Resort on Orcas Island, WA; and Casa Madrona Hotel in Sausalito, CA, which overlooks the Pacific Ocean. By October 1, Park Plaza expects to have a central reservations system set up for the Rockresorts brand, where guests can make reservations at any one or more of the properties. In addition, new property management system are being installed in several of the resorts so that they are technologically compatible. ?The concept behind this move is to allow each hotel to have its own identity and let the common thread be quality of product and the consistency of service levels,? said Lopes. ?We want these properties to be as distinct as possible, that is what will make them great.? Club-Like Atmosphere The brand will be developed around a club-like atmosphere, with a strong emphasis on repeat business and personalized service for loyal customers, said Prevette. Park Plaza will look to immediately build the Rockresort brand with additional properties, according to Medzigian, who said the company is working on several deals right now with assets that would fit the luxury flag. Future Rockresort properties will likely be added in key resort areas such as island locations, wine country, mountain areas, and a few international destinations, said Medzigian. He stressed, however, that the brand will not compromise its integrity just to grow in size. The company will stick with selecting distinctive assets that are small in size? 200 rooms or less, and are unmatched in their marketplace. ?As an owner and operator of these hotels, we?ve seen the power of these assets on their own,? said Medzigian. ?Putting them together with this tremendous name and management team will only make them more outstanding.? Additional resources will be added to help develop the full-service division ?after we take a look at the organization and figure out what we need to really make it grow,? said Prevette. In the near future, expect to see marketing programs that tie the resorts together, additional technology investments and capital improvements at a few of the historical properties. Park Plaza International is an owner and manager of Park Plaza and Park Inn hotel properties in North America and has a 45% stake in Park Plaza Kemayan, which manages the Park Plaza and Park Inn brands in the Asia Pacific r