Hostmark Adds Properties Through Distressed Asset Program
Hostmark Hospitality Group has signed two new deals in NYC and Chicago.
April 26, 2010 - Hostmark Hospitality Group, one of the nation's largest third-party hotel management companies, increased its management portfolio in major airport markets with assignments at LaGuardia Airport in New York and at O'Hare Airport in Chicago. During the past seven months, Hostmark has added nine properties in locations as diverse as Colorado, Nebraska, Michigan, New York, and Illinois through its “SOS” distressed asset program exemplifying the company's experience in repositioning distressed properties.
“Banks and lenders turn to Hostmark again and again, when they are looking for a management company that can stabilize and turn around an underperforming property,” says Jerome Cataldo, President, Hostmark Hospitality Group. “Operating a distressed asset requires a proven skill set that addresses the unique situation and returns asset value,” Cataldo continues. “We have been successfully doing this for more than 40 years because Hostmark's experienced, focused and aggressive management team implements proven integrated solutions to maximize asset potential.”
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,” Cataldo says, “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.”
About Hostmark Hospitality Group
Hostmark Hospitality Group is a leading hospitality management firm operating upscale full service hotels, resorts, focused service hotels and restaurants worldwide. Headquartered in Schaumburg, Illinois, with regional offices in Denver, Colorado, and Cairo, Egypt, Hostmark Hospitality Group is an award-winning operator of Marriott, Hilton, Intercontinental Hotel 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, and concept restaurants. Hostmark Hospitality Group has a proven longstanding reputation for delivering superior results through forward focused ingenuity and exceptional asset management. www.hostmark.com
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 
