SALISBURY, Md.—Officials at Marshall Hotels & Resorts Inc. announced that it has added three management contracts. The properties include two in Manhattan and one in Mt. Laurel, N.J.
“We are seeing increased hotel management opportunities as more hotels change hands and investors seek higher returns on their investments,” said Mike Marshall, president and CEO. “The two new Manhattan additions bring to five the number of properties we operate or are in pre-opening in the greater New York City area.”
The hotels include the Grand Union Hotel, an 88-room boutique property located in Midtown Manhattan; the Hilton Garden Inn, a 232-room, under-construction property in Midtown Manhattan and is schedule to open in the second quarter of 2014; and the Comfort Inn & Suites, a 90-room hotel located in Mt. Laurel, N.J.
“We see strong growth potential across the country for our third-party management business and are in active negotiations with a number of hotel owners,” said Marshall. “While it is still early in this phase of the real estate cycle, we are seeing a growing interest in development, an area where we have significant expertise.”