Island Hospitality Management Adds Seven Hotels to Management Portfolio
PALM BEACH, Fla.—Officials of Island Hospitality Management, LLC announced that it has added seven new contracts to its management portfolio. The properties include a six-hotel portfolio of Homewood Suites by Hilton hotels owned by Chatham Lodging Trust, a publicly traded REIT, and an Embassy Suites hotel recently acquired by Clearview Hotel Capital, LLC, a privately held hotel investment and advisory company. READER COMMENTS
“These contracts reflect our growth strategy of building strong relationships with a limited number of institutional investors, who require sophisticated operating and reporting systems and have a longer-term ownership model,” said Tim Walker, Island Hospitality’s president, in an announcement. “With these additions, we now operate hotels for seven different ownership groups. Our goal is to have relationships with approximately 10 institutional owners.
The six-hotel portfolio includes the following Homewood Suites by Hilton: Dallas Market Center, 137 rooms; Farmington (Conn.), 121 rooms; Maitland/Orlando, 143-rooms; Billerica (Mass.), 147 rooms; Bloomington Mall of America (Minn.) and Brentwood/Nashville. The Embassy Suites Valencia (Calif.) features 156 two-room suites.