Atlanta, GA -- March 17, 1999 - What do you get when
you combine over 6,000 hotel rooms, over 1,750 employees, and several million
dollars in asset value? Brentwood Hotels, a strategic development
alliance. This joint venture is created by JHM Hotels of Greenville,
S.C.; SREE Hospitality Group, of Charlotte, N.C.; and LTD Management Company,
Inc., of Chesapeake, VA.
With ownership equally divided among the three companies, Brentwood
Hotels will be managed by three appointed managers: Hasmukh "H.P."
Rama, chairman of the board and chief executive officer of JHM Hotels;
Ravi Patel, president and chief executive officer of SREE Hospitality;
and Dilip Desai, president of LTD Management.
"We see this joint venture as a way to combine the strengths of each
company by using current infrastructure and expanding with future growth,"
says Rama, whose 23-hotel company started in 1973. "By joining forces
as Brentwood Hotels, we will grow by building and repositioning existing
hotel properties in different regions of the country."
"Our companies have over 15 years of in-house construction experience,"
says Patel, who started his business in 1980 with 17 hotels. "Together,
we have developed, opened, and operated over 30 newly constructed hotels
in the last five years."
"By combining all of our many years of experience in the hospitality
industry," says Desai, whose 16-year-old company consists of ten properties,
"Brentwood Hotels will have the benefit of all the knowledge amassed by
the three companies, notably in-house services for construction management,
pre-opening, purchasing, and operations."
"Our
first Brentwood Hotels project is a 155-room Hilton Garden Inn in Innsbrook,
a suburb of Richmond, VA," says Manish Patel, vice president of development
for Brentwood Hotels. "Other projects under development include a
159-room Hilton Garden Inn at Baltimore Washington Airport in Baltimore,
MD, and a 104-key Residence Inn in Charlotte, N.C."
"We have built a strong relationship by working together over the last
decade," says Rama. "And, with Brentwood Hotels, we will take this
relationship to into the next millennium and create long-lasting, profitable
endeavors."
The three managers are actively involved in the hospitality industry.
Currently, Rama is the chairman for the American Hotel and Motel Association
(AH&MA) and is the founding chairman for the Asian American Hotel Owners
Association (AAHOA). Patel was AH&MA's Economy Council Chairman
in 1994-95 and an AAHOA chairman in 1992. Desai presently serves
on the Marriott Franchise Advisory Council as the chairman for the Development
Committee.
The three companies will continue to operate and manage their existing
portfolios; Brentwood Hotels will operated and manage those properties
developed under the joint venture. For more information, contact
Combined
Statistics for Brentwood Hotels
Number of hotels |
50 |
Number of rooms |
5,655 |
Sales Volume |
$92 Million |
Assets value |
$336 Million |
Number of associates |
1,790 |
Management staff |
73 |
Opened and operating hotels as of December 1998 |
|