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Expands with Arrowhead Hospitality Group |
| November 18, 2004 - HVS International's hotel
management division, HVS/American Hospitality Management Company, announces
a continued expansion with the addition of the Minneapolis-based Arrowhead
Hospitality Group portfolio. The Arrowhead collection of hotels enhances
the HVS/American Hospitality Management Company portfolio in the Upper-Midwest
by adding six operating hotels and three that are under development. The
largest property is the 263-room Ramada Inn Mall of America and 36,000
square foot Thunderbird Convention Center.
Arrowhead had been managing three hotels for which HVS/American Hospitality Management Company was the Asset Manager. "For four years we have been intimately familiar with the quality of Arrowhead's corporate level management team and the operations they supervised. We felt they would be an excellent addition to our company and enhance both our growth rate and our supervisory coverage in the center of the country," said Kirby D. Payne, CHA, President of HVS/American Hospitality Management Company. The company will continue to focus on managing mid-scale hotels with and without food and beverage as well as limited/focused service hotels. Kevin B. Sawatsky, CHA, currently President of Arrowhead Hospitality Group, will assume the title Executive Vice President for the combined entity, with responsibility for business development. The company also has capital available to advance as loans or equity for hotels it manages. "The addition of Arrowhead Hospitality Group, with its excellent staff, particularly in engineering and food and beverage, continues the expansion of our hotel management division," states HVS International's President and Founder Stephen Rushmore. "Our goal is to provide our clients with the best possible service in all areas of hotel real estate and management." HVS International is a global consulting and services organization focused on the hotel, restaurant, timeshare, gaming, and leisure industries. Established in 1980, HVS performs more than 1,500 assignments per year for virtually every major industry participant. HVS International is client driven, entrepreneurial, and dedicated to providing the best advice and services in a timely and cost efficient manner. HVS/American Hospitality Management Company is a full service hotel management company founded in 1988. It has operated hotels throughout the United States and served a multiplicity of clients including lenders, airport authorities, law firms, individual investors and through various partnerships develops and owns hotels. The company is based in Newport County, Rhode Island, with offices in Minneapolis and South Florida. |
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| Contact:
Kirby D. Payne, CHA
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| Also See: | HVS and American Hospitality Mgmt Company Announce the Formation of HVS/American Mgmt. Co. / October 2004 |
| Thunderbird Hotel Becomes Ramada Affiliate / Feb 2003 |