PM Hotel Group Adds Two Contracts as Part of New Expansion Plan
Seeks to Add 5-10 Hotels to Portfolio in 2013 through Management Contracts
PM Hotel Group, a hotel management and joint-venture investment company, today announced that it recently signed two hotels to its management portfolio, the first step in a new expansion program. The Hampton Inn and Fairfield Inn and Suites-branded properties are located in the Washington, D.C. Metro area.
“Our goal is to add 5 to 10 hotels in 2013, focusing on third-party management contracts with strong institutional investors,” said Joseph Bojanowski, PM Hotel Group president. “We have extensive expertise in acquisitions, turn-arounds and repositionings, areas in which we expect to see a significant amount of activity over the next several years.”
The new hotel management contracts include:
Hampton Inn, Potomac Mills/Woodbridge -This 87-room hotel is located just off Interstate 95 between the Fort Belvoir and Quantico military bases and within close proximity to the massive Potomac Mills factory outlet mall complex. The hotel recently completed a comprehensive refresh program and is in peak physical condition. Amenities include a fitness center and swimming pool, as well as a refrigerator and microwave in each room.
Fairfield Inn and Suites by Marriott, Dulles Airport Hotel Chantilly -Located at 3960 Corsair Court in Chantilly, Va., just four miles from Dulles International Airport, this 84-room hotel offers a swimming pool, fitness facilities and business center. Other amenities include a smoke-free environment, complimentary high-speed Internet, free breakfast, and toll-free telephone service.
PM Hotel Group Growth Plans:
“The first step in our new growth strategy was to add significant bench strength to our senior management team last year in both full-service and select-service hotels,” Bojanowski noted. “These seasoned veterans have extensive hotel experience in all phases of the hotel economic cycle. We have the infrastructure in place to comfortably absorb additional hotels while continuing to expand economic returns for our existing 20-hotel portfolio.”
PM Hotel Group’s growth will focus on premium-branded, full-service, select-service and extended-stay hotels located in urban and suburban areas. “Our management team has operating expertise in all regions of the country, and we will expand geographically to meet the needs of our existing and future clients/partners.”
Bojanowski said that he also expects PM Hotel Group to partner with investors to selectively develop new properties as the hotel sector continues to recover. “We’ve overseen the development of more than 20 new hotels in our over 15-year history, all of which have been successful. We have the expertise in site selection, securing permits, obtaining the most appropriate franchise through our strong relationships with the major brands and overseeing construction and pre-opening,” he said. “There are opportunities for smart development, and we have a number of viable, shovel-ready projects in our development pipeline.”
About PM Hotel Group
Founded in 1995, PM Hotel Group is a third-party hotel management company and joint venture investor. It offers a full range of hotel operating services ranging from accounting to human resources, sales and marketing to information technology. PM Hotel Group also has expertise in development, construction and pre-opening services. The award-winning company currently operates 20 hotels, comprising approximately 2,800 rooms under such leading brands as Hilton, Embassy Suites, Hilton Homewood Suites, Sheraton, aloft, Hilton Garden Inn, Fairfield Inn & Suites by Marriott, Comfort Suites and Comfort Inn. PM Hotel Group is headquartered in Washington, D.C. Additional information about the company may be found at www.pmhotelgroup.com.