Monday May 20th, 2013 - 9:39AM
SAN FRANCISCO—PM Hospitality Strategies inked a management contract to operate the Homewood Suites by Hilton Oakland Waterfront in California, bringing to four the number of hotels the company manages or asset manages on the West Coast.
Joseph Bojanowski, PMHS president, said, “This new contract marks a major new commitment for PMHS to expand our West Coast managed portfolio. This hotel also brings another new institutional investor to our portfolio, a key component of our growth. We now represent seven institutional investors and seek to add several more by year-end.”
This hotel is the fifth Homewood in the company’s management portfolio.
Bojanowski added. “We will oversee a modest refresh of the property, primarily soft goods upgrades, and will aggressively increase average daily rate to enhance the profitability of this well-located hotel.”
Overlooking the Oakland waterfront, the hotel offers a total of 132 studio, one-bedroom, and two-bedroom suites. Each suite features a fully equipped kitchen with granite countertops, a full-size refrigerator, microwave, dish washer and two-burner cooktop. Hotel amenities include a fitness center, complimentary high-speed Internet access, free daily breakfast and complimentary dinner and beverages Monday through Thursday.
“This is our third new management contract this year and we are on target to meet or exceed our goal of adding five to 10 hotels in 2013,” Bojanowski said.
PMHS, based in Washington, D.C., currently operates 20 hotels, representing approximately 2,800 rooms under such brands as Hilton, Embassy Suites, Hilton Homewood Suites, Sheraton, Aloft, Hilton Garden Inn, Fairfield Inn & Suites by Marriott, Comfort Suites and Comfort Inn.