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Hotel Conversions to Augment Growth Ten Existing Properties Recently Re-opened or in Conversion -- |
| MILWAUKEE, Wisc., May 15, 2001--Baymont Inns & Suites, a leading
mid-priced segment hotel brand, today announced that it will expand the
role of hotel conversions within the company’s five-year strategic plan
to grow the brand to approximately 500 hotels nationwide. The company
said that it has recently re-opened or is in the process of converting
10 properties to the Baymont brand. Currently, there are 180 Baymont
Inns & Suites open in 30 states and more than 25 under development.
“For the past few years, we have emphasized new construction,” said Dan Daniele, president Baymont Franchises International “Moving forward, we intend to selectively use conversions to accelerate our growth. “Our conversion package is adaptable to a wide array of hotel brands,” he noted. “Over the past several years, 10 properties from other hotel brands have successfully converted to the Baymont brand, but we have not formally pursued conversions as a separate growth opportunity. We now are targeting 10 to 15 percent of our growth to come from conversions.” Daniele said that Baymont seeks hotels that are 5 to 10 years old with more than 60 rooms. Room size must be a minimum of 12 feet by 17 feet, and bathrooms must include a tub/shower. Properties must have interior corridors, except certain beach locations, be ADA-compliant and have appropriate life safety equipment. Hotels with more than two stories must provide elevator service. Hotels must be architecturally adaptable to either Baymont’s Landmark or Sunrise prototypes. The company provides cost-effective architectural and engineering plans and specifications to assist owners. A typical conversion requires three to nine months, depending on remodeling needs. “As operators ourselves, Baymont understands the importance of quality design and appearance,” said Daniele. “Our range of conversion services includes extensive assistance in the areas of design, marketing and training.” Properties recently converted to the Baymont Inns & Suites brand include, Nashville, Tenn., Waupaca, Wis., Joplin, Mo., and Lexington, Ky. Properties currently undergoing conversion include Lake Ozark, Mo., Lawrence, Kan and North Aurora, Ill.
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. |
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www.baymontinns.com |