Miami Doubletree Starts Renovations
OCTOBER 28, 2009 - New York based United Capital Corp. has announced that the Doubletree Miami Mart Airport Hotel and Exhibition Center has already started a major renovation program, following the property's acquisition by the firm over the summer. United Capital Corp. took possession of the 334-room landmark hotel and adjoining Exhibition Center in August and immediately began a $10,000,000 renovation program.
This acquisition is the fourth hotel in the portfolio of the diverse manufacturing, real estate, and hospitality company. The company already owns and operates hotels in Utica, NY, Hartford, CT, and Atlanta, GA. A.F. Petrocelli, Chairman and CEO of United Capital, stated, “This hotel/exhibition center is a tremendous addition to our portfolio. It fits our plans for growth in major markets, with an exceptional location, and the ability to serve many market segments.”
This is the second Doubletree Hotel owned and managed by United Capital. “We are very pleased to expand our relationship with the Hilton Corporation and the Doubletree brand,” added Stephen Kronick, Vice President/Hotel Operations for United Capital. The senior level team of United Capital Corp. has substantial experience in hospitality. Mr. Petrocelli is the former Chairman, CEO and President of Prime Hospitality, Inc., and Mr. Kronick was Senior VP/Operations at Prime.
The 334-room hotel has over 156,000 square feet of meeting room, ballroom, and convention space, making it the third largest event host property in South Florida. It is also attached to the world-famous Miami International Merchandise Mart, well-known for its fashion-focused retail stores, events and trade shows. The property will be undergoing renovation of guest rooms and corridors, lobby and all public space, meeting facilities, restaurant and lounge, and convention space as part of the change of ownership and management.
The Doubletree is located in the heart of the business district adjacent to Miami International Airport, and is minutes from downtown Miami, Coral Gables, Coconut Grove, South Beach, and the Port of Miami.
United Capital Corp. is a publicly traded company (NYSE Amex: AFP) with holdings in diverse industries. For more information, visit www.unitedcapitalcorp.net.
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 
