Marshall Management Announces Four New Contracts
JANUARY 22, 2008. Marshall Management, a leading mid-sized hotel management company, today announced four new hotel management contracts. The company acquired three of the four contracts in the last quarter of 2007, closing out the year with a record 13 contracts, an increase of 20 percent from 2006. he new contracts include a Hampton Inn in Greensboro, N.C., a Clarion hotel in Memphis, Tenn., and the Country Inn & Suites in Chesapeake, Va. A fourth contract, the Hampton Inn in Pittsburgh, Pa., is the company's first of 2008. Marshall's total managed portfolio now comprises 36 hotels and resorts, primarily national brands in the full- and select-service sectors and located on the East Coast and Midwest.
All four properties are owned by separate groups. Three of the four properties will undergo moderate to complete renovations and upgrades. Marshall also provided pre-opening services for the Chesapeake property.
Of the four hotels, Marshall acquired a sliver equity interest in the two Hampton Inn properties. They bring to six the total number of properties in which Marshall holds a JV interest.
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