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Shamrock–Hostmark Hotel Fund LP Makes Third Acquisition
05/24/2006
Schaumburg, IL, May 24, 2006 – The Shamrock-Hostmark Hotel Fund LP (the Fund) closed on its third acquisition in the second quarter of 2006. The Fund acquired the Crowne Plaza Hotel San Antonio Airport and is currently evaluating several other potential acquisitions to be concluded in the near future.
As the newest Crowne Plaza in San Antonio, this hotel is ideally situated one mile from San Antonio International Airport and minutes from major corporations such as IBC, XEROX, and Bank of America. The Crowne Plaza offers 226 spacious VIP executive-level guest rooms, complimentary wireless internet access throughout the hotel, and complimentary hotel shuttle. Other amenities include ample meeting space, fitness room, guest laundry, business center, Cilantro! Restaurant and outdoor heated pool with whirlpool. Nearby major attractions include North Star Mall, downtown San Antonio, the Riverwalk, the Alamo, Market Square, the Verizon Wireless Ampitheater, and Home of the NBA Champion San Antonio Spurs.
“This new acquisition complements the strategic direction 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 hotels that would benefit from enhanced management expertise and/or market repositioning through further investment,” Mr. Buchler added.
The Fund, co-sponsored by Shamrock Holdings of California and Hostmark Hospitality Group, is actively pursuing value-add, full-service and select-service hotels in urban markets. The Fund’s objective is to acquire hotels that require redevelopment, renovation, rebranding and investment management that will provide significant value.
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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