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Pyramid Resort Group Announces Assumption of Management of Two New Resorts

5/29/2012

BOSTON—Following significant growth after launching in 2011 and a strong 2012 first quarter, Pyramid Resort Group announces two new management agreements.

The resort division of the Boston-based hotel management, asset management, and project management firm Pyramid Hotel Group, added new resorts to their growing portfolio including The Westin Lake Las Vegas Resort Spa in Henderson, Nev. and Sawgrass Marriott Golf Resort Spa in Ponte Vedra Beach, Fla.

"Owners had found particular appeal in the company's proven track record, extensive sales and marketing networks, revenue management practices and ability to benchmark performances across multiple brands, independent properties, and markets," said Richard Holtzman, senior vice president of resort operations. "The continued growth of this new division is a clear sign of the strength, versatility, and proven abilities of our company and the confidence of our new hotel owners to deliver superior returns".

Over the past year, Pyramid Resort Group's proven ability to maximize cash flows and asset values has been a significant factor in securing new management contracts, the most recent of which include:

The Westin Lake Las Vegas Resort Spa re-launched in March 2012 and is located on the shores of Lake Las Vegas. This 493-room resort offers guests the opportunity take advantage of the lake with paddle boarding and kayaking, as well as a trail for biking and jogging. The resort also features five restaurants including the AAA Four Diamond-rated Japanese Restaurant Marssa, and 45,000 square-feet of meeting space.

Sawgrass Marriott Golf Resort Spa is a resort with private beachfront access overlooking the 13th hole of the TPC Sawgrass Stadium Course in Ponte Vedra Beach, Fla. The 506-room resort features 160 villas and offers a wealth of recreational possibilities including four pools, a 25,000 square-foot spa, and a private Cabana Club on the beach for members and guests. Casual and fine dining is available at nine resort restaurants, and 60,000 square-feet of modern event facilities are available.

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