AFC Arranges Financing for Hotel in Houston
HOUSTON, TX, December 10, 2007. AFC Hotel Finance Group, a capital provider that has sourced more than $600 million for hospitality development, construction and renovation projects this year alone, secured $12 million in financing for the Four Points by Sheraton Hotel at 2828 Southwest Freeway in Houston, TX. Peter M. Berk, President of AFC Hotel Finance Group, made the announcement.
"The principals sought additional capital in an effort to expand their growing business in the Southwest," Mr. Berk commented. "The location, experienced ownership and strong brand reputation made the Four Points by Sheraton Hotel an attractive investment for our institutional capital partners."
The 216-key hotel features a 24-hour front desk, business center, car rental service, state-of-the-art fitness center, outdoor pool and all modern amenities. On-site eateries include Au Bon Pain Bakery Cafe and ABP Bar.
Local attractions include the world-renowned Museum of Fine Arts, Miller Outdoor Theatre, Houston Zoo, Children's Museum of Houston, Rice University, George Brown Convention Center, Houston Museum of Natural Science, Reliant Stadium/Reliant Park and University of Houston. The property is also proximate to some of the country's leading corporate headquarters, including Exxon Mobil, Coca Cola, Washington Mutual and many other top firms.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
