Jones Lang LaSalle Named Asset Manager of Spartanburg Marriott
JUNE 12, 2008. Jones Lang LaSalle Hotels has been engaged by Bridgeview Capital Solutions to provide asset management and investment advisory services on behalf of the lender group that currently owns the 247-room Marriott at Renaissance Park located in downtown Spartanburg, South Carolina.
"This is a unique and impressive hotel in a dynamic and growing market. As the newest property in the Greenville-Spartanburg market with more than 27,000 square feet of modern and highly functional meeting space, our efforts will be focused on growing returns and value on behalf of the lender group," said Bruce Stemerman, managing director of strategic advisory and asset management for Jones Lang LaSalle Hotels. "Working with the property management team, we will drive enhanced profitability through targeted revenue generation initiatives and effective cost management."
The hotel is located near several corporate headquarters, two colleges, and is adjacent to the future site of the George Dean Johnson, Jr. College of Business and Economics at the University of South Carolina Upstate (opening in 2009). The region has experienced explosive growth in recent years due to major investments by BMW and Adidas and has new growth on the horizon with Coca-Cola.
"Nestled in the foothills of the Blue Ridge Mountains, the region attracts international corporations with its mild climate, wealth of available land, respected education institutions, an outstanding workforce, and convenient location halfway between Atlanta and Charlotte," said Stemerman. "With a complete spectrum of full service amenities and focused asset management, the Spartanburg Marriott is well positioned to accelerate the growth it has experienced in recent years."
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 
