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Shamrock–Hostmark Hotel Fund LP Makes First Acquisition, Under Contract for Second Property
01/19/2006
Schaumburg, IL, January 19, 2006 – The Shamrock - Hostmark Hotel Fund LP (the Fund) closed on its first acquisition in the fourth quarter of 2005 and has recently gone under contract for its second acquisition. The Fund acquired the 151-room Springhill Suites by Marriott Miami Airport South. The Fund has also entered into an agreement to purchase a mid-sized upscale full-service hotel in the Northeast.
“These two assets represent excellent examples of the types of acquisitions the fund intends to make over the coming months” George Buchler, Vice President, Shamrock – Hostmark Hotel Fund LP. “The Fund intends to seek out high-quality facilities that would benefit from enhanced management expertise and/or market repositioning through further investment,” Mr. Buchler added.
The Fund is co-sponsored by Shamrock Holdings of California and Hostmark Hospitality Group and is actively pursuing investment-grade, full-service and select-service hotels in urban markets. The Fund objective is to seek the acquisition, redevelopment, renovation and investment management of hotel assets with significant value creation potential.
Hostmark Hospitality Group (www.hostmark.com) is a leading hospitality management firm operating upscale full-service hotels and resorts and select-service hotels worldwide. Hostmark has a proven long-standing reputation for performance-driven results through superior operating and asset management standards. Headquartered in Schaumburg, IL, Hostmark has regional offices in Boulder, CO, and Cairo, Egypt.
Shamrock Holdings of California, Inc. (www.shamrock.com) was founded in 1978 as the investment vehicle for the Roy E. Disney family. Since that time, Shamrock has invested more than $2 billion in real estate and private equity transactions across a broad range of property types and industries. Shamrock currently manages five private equity and real estate funds comprising roughly $1 Billion of equity capital.
Contact:
Tim Pigsley
847.517.9090 x226
tpigsley@hostmark.com
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