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Hostmark Hospitality Group Continues to Grow Portfolio Adding Candlewood Suites
10/07/2009
Schaumburg, IL, October 7, 2009—Hostmark Hospitality Group, one of the nation’s largest third-party hotel management companies, was selected to be the third-party operator for the Candlewood Suites in Colorado Springs, CO. The firm’s continued growth is testament to the confidence clients have in the company’s depth of experience and capabilities to successfully transition distressed assets.
The Candlewood Suites Hotel in Colorado Springs is an all-suites, extended-stay hotel nestled among the largest of Colorado Springs' employers, including the US Air Force Academy, Fort Carson, Peterson Air Force Base, Boeing and Intel. Located just 2 miles from Interstate 25 and the Phil Long Expo Center, the hotel is only 20 minutes from both downtown and Colorado Springs Airport.
Hostmark Hospitality Group has applied their extensive experience with distressed assets in creating a tailored program called SOS (Stabilize, Operate, Sell). “The SOS program begins with a comprehensive property assessment, stabilizing the human capital and demand variables,” says Jerome Cataldo, Hostmark President, “leading to evaluation and recommendations for the property’s physical plant; hotel operations and marketing; creation of a detailed operating budget; formulation of an appropriate business plan; plus staff assessment and alignment.”
“The vast network of investor relationships that the firm has cultivated often introduces a qualified buyer to the equation,” mentions Cataldo, concluding that, “operating a distressed asset requires a proven skill set that addresses the unique situation and returns asset value.” All findings and data are communicated to the financial institution or owner on an ongoing basis through ProfitMark®, Hostmark’s proprietary information intelligence portal.
Hostmark Hospitality Group (www.hostmark.com) is a leading hospitality management firm operating upscale full service hotels, resorts, focused service hotels and restaurants worldwide. Headquartered in Schaumburg, IL, with Development offices in Boulder, CO, and Cairo, Egypt, Hostmark Hospitality Group is an award winning operator of Marriott, Hilton, Intercontinental Hotels Group, Starwood and Wyndham Hotels. Under consistent leadership spanning more than four decades, Hostmark Hospitality Group operates independent boutique hotels as well as other luxury resorts, attractions and concept restaurants. Hostmark Hospitality Group has a proven longstanding reputation for performance-driven results through superior operating and asset management.
Contact:
Hostmark Hospitality Group
Brian Tkac, Vice President Marketing & Revenue
847.517.9100
btkac@hostmark.com
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