Hotel & Motel Management - September 3, 2007 - (Page 36)

36 News H&MM September 3, 2007 | HotelMotel.com www.HotelMotel.com/digital_edition JER Partners deal Continued from page 1 8,636 guestrooms in 14 states and Washington. Brands include: Marriott, Hilton, Ritz-Carlton, Westin, Hyatt, Sheraton, Renaissance, Crowne Plaza, Courtyard, Hilton Garden Inn, Wyndham and Residence Inn. This brings JER’s hotel tally to 208 hotels with about 25,700 guestrooms. Gilbert said Highland spent about $100 million in capital improvements recently. The portfolio includes full-service and select-service properties in strong, high-growth markets, and markets with high barriers to entry such as Washington and Boston. “We expect to continue improving the assets by investing about $130 million in capital improvements over the next 24 to 36 months,” he said. “We’ll be looking for [revenue per available room] growth and gains in the values.” EARN EARN YOUR BACHELOR DEGREE IN ACH HOSPITALITY AND TOURISM • Personalized Service • Flexible Learning • No Classroom or Scheduled Online Sessions Gilbert said he expected brands in the Highland portfolio to remain. “It would be more repositionings,” he said. “The majority of the improvements will be associated with the rooms packages.” Gilbert added that the portfolio includes a great group of Marriott properties, and JER is excited about growing its relationship with companies such as Marriott International, Global Hyatt Corp. and Hilton Hotels Corp. The majori- Gilbert ty of the hotels JER PARTNERS in the portfolio are managed by McLean, Va.-based Crestline Hotels & Resorts or the hotel brands, and that is expected to continue. COLUMBIA SOUTHERN UNIVERSITY • Affordable Tuition • Accredited Member DETC • TA, DANTES & VA Benefits Looking forward Gilbert said JER will selectively buy and sell, but will continue to be an active player in the industry. “We’re focused on extendedstay and full-service hotels where there are some barriers to entry and we can do a value add through a repositioning or redevelopment,” he said. The company has acquired individual properties and portfolios, and will continue to pursue both, according to Gilbert. shiggins@questex.com 1 866 833 8580 591 Albright Road, Uxbridge, ON L9P 1R4 Canada PH: (905) 649-5047 FX: (905) 649-1757 ONLINE LEARNING FOR BUSY PROFESSIONALS www.watertoys.com info@watertoys.com CIRCLE NO. 108 www.columbiasouthern.edu/ht • 800.349.4031 t ORANGE BEACH • ALABAMA 36561 OTHER DEGREE PROGRAMS AVAILABLE. CIRCLE NO. 106 Changing Flags The 57-room Best Western Mount Pleasant Inn in Texas joins the Best Western portfolio. Mina Patel owns the property. The former Four Points by Sheraton Denver Cherry Creek is now the Cherry Creek Hotel, a 210-room property. Stonebridge Cos. owns the property. This is the third hotel that Stonebridge owns and operates in the Cherry Creek district of Denver. Compiled by Elaine Simon, esimon@questex.com CIRCLE NO. 102 CIRCLE NO. 103 http://HotelMotel.com http://www.HotelMotel.com/digital_edition http://www.columbiasouthern.edu/ht http://www.watertoys.com http://www.columbiasouthern.edu/ht http://www.watertoys.com http://www.ambath.com http://www.axxind.com http://www.ambath.com

Table of Contents Feed for the Digital Edition of Hotel & Motel Management - September 3, 2007

Cover Contents Convention Centers Add Bells and Whistles Questex Media acquires Five Star Alliance Perspective At Your Risk Energy Star Update Sales Clinic Transactions Awards Trends & Stats Wireless Networking Northwest Pipeline Coffee Services Ad/Editorial Index Marketplace Classifieds Checking Out

Hotel & Motel Management - September 3, 2007

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