Thursday, May 5, 2011
BOSTON, MA, May 5, 2011--Officials of Pyramid Hotel Group, a Boston-based hotel management, asset management and project management firm, today announced that year-to-date 2011 the company added five properties with approximately 1,600 rooms to its managed and asset-managed portfolio.
The additional properties range from city center commercial hotels to branded destination resorts in a variety of hotel markets throughout the United States, including Hawaii and the Caribbean.
“The improving market in the 2011 first quarter contributed to a strong period of growth for Pyramid, including international expansion with the addition of our first Caribbean resort.
“ This international growth reflects the strength, versatility, and proven abilities of our company and the confidence of our new hotel owners to deliver superior returns,” said Warren Fields (middle right photo), Pyramid’s chief investment officer.
“Concurrently, we are especially gratified that our current management portfolio remained stable throughout the recent economic downturn, reflecting the strength of our long-term relationships due to Pyramid’s ability to consistently maximize cash flows and asset values under any economic condition.
“We expect to see continued strong growth in the 2011 second quarter as a result of our exceptionally active pipeline,” Fields noted. “Owners are particularly attracted by our proven track record, our extensive sales and marketing networks, our revenue management practices and our ability to benchmark performances across multiple brands, independent properties, and markets.”
Contact: Jerry Daly or Chris Daly, Daly Gray,(703) 435-6293