PMHS Adds Two Contracts as Part of Expansion Plan
Monday March 25th, 2013 - 11:45AM O
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
WASHINGTON, DC—PM Hospitality Strategies (PMHS), a hotel management and joint-venture investment company, recently signed two hotels to its management portfolio, the first step in a new expansion program.
According to the company, it plans to add 5-10 hotels in 2013, focusing on third-party management contracts with strong institutional investors. Properties it is looking for include premium-branded, full-service, select-service and extended-stay hotels located in urban and suburban areas. “There are opportunities for smart development, and we have a number of viable, shovel-ready projects in our development pipeline,” Joseph Bojanowski, PMHS president, said in a statement.
“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,” he continued. “We have the infrastructure in place to comfortably absorb additional hotels while continuing to expand economic returns for our existing 20-hotel portfolio.”
The new properties are both located in the Washington, DC Metro area.
The 87-room Hampton Inn, Potomac Mills/Woodbridge recently completed a comprehensive refresh program. Amenities include a fitness center and swimming pool, as well as a refrigerator and microwave in each room.
The 84-room Fairfield Inn and Suites by Marriott, Dulles Airport Chantilly offers a swimming pool, fitness facilities, business center, complimentary high-speed Internet and free breakfast.
Tags: • Hospitality • Management Companies •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.