Hotel & Motel Management - November 19, 2007 - (Page 40)

40 News H&MM November 19, 2007 | HotelMotel.com Boykin Continued from page 4 The Ellis Hotel, a 127-room downtown property, is Boykin’s newest hotel. RD Management LLC purchased the building for $2.2 million in 2000 and embarked on an extensive $26-million rehabilitation of this historic landmark into one of Atlanta’s hottest new destinations. Boykin will put sliver equity in the right deals, Smith said. “We have the operating platform to support growth,” said Grant Sabroff, senior v.p. of business development. “We’re a company that has a long history and that has operated through many cycles.” At its peak, Boykin had 29 hotels in its portfolio. “If we ramped up to that again, we have the infrastructure in place to handle it,” Smith said. The company, formerly head- quartered in Cleveland, now is based in Charlotte, N.C. It also has ofﬁces in Cleveland and Fort Myers, Fla. Its focus is on full-service, conference-center and resort properties—branded and unbranded, according to Sabroff. It also retains its interest in condo-hotels. On the heels of closing two deals in 2007, Smith said he anticipates completing two to three deals each year. Boykin currently is exploring a portfolio of seven properties. Smith said the company’s long-time reliance on the Internet to promote sales-and-marketing efforts is its strength. “We have always had independents that don’t have the marketing muscle of a brand behind them,” Smith said. “Independents have to do it for themselves, so it forced us to be good very quickly.” jhigley@questex.com HBI sales Continued from page 4 the sales charts. Fritsch said if interest rates rise or the economy slows, the pace of hotel transactions could slow. However, he anticipates the number of sales of large portfolios will continue. The group reported that, through August, 18 large-portfolio deals worth $4.7 billion were conducted. For all of 2006, 19 large-portfolio deals worth $2.5 billion were closed. Fritsch said he believes there will continue to be global consolidation, which will lead to more transactions for individual properties. “The world continues to shrink, and hotel real-estate sales reﬂect that,” he said. “Plus, we’re seeing more companies want to get involved at the international level,” he said. “While once considered regional U.S. players, a number of companies have expanded their portfolios to include properties around the world.” To capitalize on that trend, HBI needs more global representation and is expanding its roster, Fritsch said. The company joined forces with members in Europe, the Middle East and Asia and is exploring partnerships with brokers in Dubai, United Arab Emirates; Italy; and Canada, among other places. “Many of the barriers that previously existed on the global front have come down for brokers,” Fritsch said. “Buyers more and more are looking for a broker who understands the local market where a potential acquisition is located. It’s up to us to teach our members how to tap into networking opportunities that give them access to those buyers while extending their own global reach.” jhigley@questex.com Announcing the 5th HOTEC North America The Original Hospitality Industry Meeting Forums Would you benefit from • Pre-scheduled meetings with senior decision makers • 2 days, 3 evenings of networking and relationship building then choose the HOTEC way of doing business HOTEC Operations 08 North America March 13 to 16 Westin Stonebriar Resort Dallas, Texas Call: 954 942 8143 or E-mail: info@hotecna.com HOTEC Design08 North America www.hotecna.com June 12 to 15 Chateau Elan Winery & Spa Braselton, GA CIRCLE NO. 122 http://HotelMotel.com http://www.hotecna.com http://www.hotecna.com

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Hotel & Motel Management - November 19, 2007 Contents Torrid Hotel Sales Pace Persists Boykin Takes Steps to Regain Foothold Best Western Sets 10-year Plan Perspective At Your Risk HotelWorld Update Sales Clinic Events Trends & Stats Charting H&MM's Top Lodging Design Firms Fitness Equipment Supplier News PMS Software Provides One-Click Solutions High-Quality Linens Require Higher-Quality Cleaning Despite Slow Market, Condo Hotels Thrive Ad/Editorial Index Marketplace Classifieds Checking Out

Hotel & Motel Management - November 19, 2007

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