Shaner Partners with Rothschild Realty to Provide Growth Capital
Breaking Ground on Three Marriott Select Service Hotels in Florida and Georgia
STATE COLLEGE, PA, June 12, 2008. Shaner Hotel Group announced today that it has broken ground on three new Marriott Select Service hotels in Florida and Georgia, with three more scheduled to begin construction in the next 45 days. Three of the six properties are scheduled to open in Q1 and three more in Q2 2009.
Shaner properties under development include a 98-room Courtyard and 82-room Fairfield Inn & Suites by Marriott in St. Augustine, FL; a 97-room Courtyard and 108-room Residence Inn by Marriott in Kendall Town (Jacksonville), FL; as well as 87-room and 80-room Fairfield Inns & Suites in Lakeland, FL and Augusta, GA, respectively.
"Through our new partnership with Rothschild Realty's Five Arrows, we are selectively but aggressively seeking out high-end opportunities for our development platform in stable, growing markets," said Plato Ghinos, Sr. VP of Development for Shaner.
Shaner Hotel Group formed a new partnership with Five Arrows Realty Securities IV, L.P. (Five Arrows) in November 2007. The new partnership, Shaner Hotel Holdings Limited Partnership (SHHLP), consists of hotel interests from Shaner Hotel Group (SHG), a private company owned by Lance T. Shaner, and a capital commitment by Five Arrows. Shaner, together with its affiliates, own and manage 23 hotels, with an aggregate of over 3,500 rooms located in 14 states. SHHLP is investing approximately $200,000,000 for the development and construction of twelve to fifteen new Marriott-branded hotel properties.
Five Arrows I through IV are a series of investment funds managed by New York-based Rothschild Realty Managers LLC, a leading provider of growth capital to public and private real estate companies. As part of the transaction, Pike Aloian and John McGurk, Principals of Five Arrows, joined the SHHLP board.
Privately-held Shaner, parent company of Shaner Hotels, is based in State College, PA. It owns and manages diverse holdings in the lodging, investment, energy and professional services sectors. For more information: http://www.ShanerCorp.com
Rothschild Realty Managers is New York-based investment manager which provides entity-level growth capital to public and private real estate operating companies. Through Five Arrows Realty Securities, a series of funds that invests capital committed by pension funds, endowments, foundations and high net worth individuals. Rothschild Realty has committed approximately $1.4 billion of capital into 21 entity-level investments. For more information: http://www.us.rothschild.com/realestate
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
