Hotel & Motel Management - October 6, 2008 - (Page 32)

32 Special Report OWNERS AND DEVELOPERS H&MM October 6, 2008 | HotelMotel.com www.HotelMotel.com/digital_edition Developers, owners INTERSTATE HOTELS & RESORTS Continued from page 31 perspective.” IHG is cautious about its workforce, and instead of cutting employees, the company is undertaking extra training to keep its talent in place. “We know the cycle will be over shortly, and we’ll need the talented people we’ve been training,” Murray said. Development decisions Interstate Hotels & Resorts, a hotel real estate investor and operator of full- and select-service hotels, is doing a lot of the same streamlining. It is adjusting staff on a property-by-property basis and paring back on some initiatives. “We have not had any wholesale layoffs,” said C.A. Anderson, EVP of development & acquisitions for Interstate. “But, in our planning for next year, we probably won’t be ﬁlling some existing spaces. We won’t be doing anything extravagant.” Anderson said Interstate is being realistic about the decisions it is making. “Can we make equipment last six months longer? Are we sponsors of any conferences or associations we can do without? We are asking the pragmatic questions anyone can ask,” he said. “The policy of the company is not to slash and burn.” Anderson said Interstate won’t actively be seeking any additional ownership opportunities anytime soon, but instead will continue to improve on recent additions to the The Hilton Houston Westchase is owned by Interstate Hotels & Resorts. The company said it will focus on its current portfolio rather than seek ownership opportunities right now. portfolio. For example, Interstate recently opened the ﬁrst aloft property in Rancho Cucamonga, Calif., and will soon open another aloft outside of Nashville, Tenn. Anderson is paying close attention to how these properties start off in terms of performance. “We’re getting a lot of positive feedback on the quality of the aloft experience,” he said. “It’s a new brand, and the customer awareness is improving.” Anderson said two years ago, when Interstate established a capital partner for the aloft projects, the lodging debt world was a much different place. Today, he said, it’s a little more challenging. “In the beginning, [Starwood Hotels & Resorts] had 26 committed developers,” Anderson said. “Now it’s dwindled down to 18 properties. But it has all the earmarks of staying power.” jfreed@questex.com providing P RO F I TA B L E S O LU T I O N S for TODAY’S owners, asset managers and lenders • • Introducing the First Hotel Management Full Service Management Contracts Experience in Multiple Franchises and Varied Markets Construction and Renovation Revenue Management Equity Investments NEW Partnership Services for Accounting, Sales and Operations Flexible Fees and Incentive Based Fees Pre-Nup • • • • • PARAMOUNT HOTEL GROUP IS ONE OF THE TOP HOTEL MANAGEMENT COMPANIES IN THE COUNTRY. We’ve been generating exceptional results since 1999, with a senior management team that averages more than 30 years of experience. When a hotel owner enters into a contract with us, it marks the beginning of a mutually satisfying, long-term relationship. We think like owners and understand what’s important to you. We’re so confident in our ability to deliver results that we’re prepared to give owners an easy out if we don’t. We believe our results will convince you to stay. Paramount Hotel Group is currently seeking third-party contracts, both short- and long-term. We also have the ability to co-invest when appropriate and will take over troubled properties. C O N TA C T: Scott McMahon VICE PRESIDENT OF DEVELOPMENT 410-749-8464 smcmahon@marshallhotels.com To explore a possible future together, call Ed Dykes, VP of Development, at 770-573-2778, or e-mail edykes@paramounthotelgroup.com M A R S H A L L M A N A G E M E N T, I N C . Serving the Hotel Industry Since 1980 www.marshallhotels.com CIRCLE NO. 135 CIRCLE NO. 139 http://www.HotelMotel.com http://www.HotelMotel.com/digital_edition http://www.marshallhotels.com

Table of Contents Feed for the Digital Edition of Hotel & Motel Management - October 6, 2008

Hotel & Motel Management - October 6, 2008 Contents NYLO Brands Mix Up Lifestyle Segment La Quinta Eyes Mexico, Canada for Growth Perspective Legally Speaking Marketing Matters Satisfaction Trends Maintenance Doctor HotelWorld Update Trends & Stats Independent Hotels Top Hotel Multiunit Owners and Developers Survey Cleaning & Maintenance Music Wallcoverings Supplier News Transactions Softgoods: Bedding & Linens People Events Ad/Editorial Index Marketplace Classifieds Checking Out

Hotel & Motel Management - October 6, 2008

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