Benchmark Partners with USAA Real Estate; Expands Owner Advisory Group
Houston, Texas - September 2, 2011 - Benchmark Hospitality International, a leading U.S.-based hospitality management company, announces that it has been engaged by USAA Real Estate Company to provide asset management services for USAA's portfolio of hotels and resorts. Benchmark Hospitality will also assist the company on future hotel and resort investments but will not hold equity in transactions.
"Benchmark Hospitality's broad operational and sales & marketing expertise with hotels, resorts and conference centers, spanning three decades, well positions our company to represent owners' interest in driving optimal performance of their hospitality real estate investments," said Burt Cabañas, chairman & CEO. "Benchmark's interest in expanding these services to real estate owners strengthens our relationships and creates other opportunities in the future."
"I have followed Benchmark's growth and unparalleled performance in the hotel industry for the past 20 years, and am thrilled to add their unique talents to our team here at USAA Real Estate Company," says Len O'Donnell, president and COO. "I'm confident that working together will enhance the performance, quality and level of service at each of our hotels."
The new partnership's timing couldn't be better. As the business and travel environment continues to improve, and with Benchmark's expertise in enhanced technology platforms to support customer outreach and bookings, USAA and Benchmark can immediately respond to new hotel ventures and enhance the profitability of existing properties.
This represents an unprecedented partnership opportunity for companies like USAA Real Estate and Benchmark Hospitality International. By utilizing each other's complementary strengths and capabilities, asset valuations can be maximized for owners and new opportunities for investors created or immediately responded to.
Benchmark Hospitality has a 30-year record of successfully developing and positioning resorts, conference centers and hotels. The company's recent acquisition of MTM Luxury Lodging, which brought five superior personal luxury hotels into Benchmark's portfolio bringing the overall property count to 35, also added MTM's senior executive talent to the company's leadership team. Additionally, the MTM purchase brought with it a formidable record of successful asset management relationships with investment groups for a variety of hotels and hospitality brands.
About Benchmark Hospitality International
Benchmark Hospitality International is a leader in the management and marketing of resorts, conference centers, hotels, and Personal Luxury Resorts & HotelsSM. The independent company, launched in 1980, is a worldwide organization operating properties in major metropolitan and resort destinations. Benchmark's international headquarters is located in The Woodlands, Texas, near Houston. Benchmark Hospitality is also a founding member of the International Association of Conference Centers. The company's eastern regional office is in New Jersey, western regional office is in Washington, with international offices in Tokyo, Japan, and Santiago, Chile. For the location of Benchmark's properties and additional information, visit www.benchmarkhospitality.com.
About USAA Real Estate
USAA Real Estate Company manages a multi-billion dollar portfolio including recent acquisitions of $3 billion and under development assets of $2 billion. The company provides co-investment asset management services to U.S. pension funds as well as foreign and domestic institutional investors. USAA Real Estate Company also provides capital to partners across the country for development in virtually all product types. The portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies. USAA Real Estate is a subsidiary of USAA, a leading financial services company, serving military families since 1922. For more information, visit www.usrealco.com.
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