MHI Hospitality Corporation Receives Developer of the Year and Renovation Awards for Hollywood, Florida Asset
October 22 2008 - 9:51AM
PR Newswire (US)
WILLIAMSBURG, Va., Oct. 22 /PRNewswire-FirstCall/ -- MHI
Hospitality Corporation (NASDAQ:MDH) announced today that the
Company received the 2008 Developer of the Year Award and the 2008
Renovation Award for the Crowne Plaza Hollywood Beach Resort. The
awards were presented by InterContinental Hotels Group (LON: IHG;
NYSE: IHG (ADRs)). The 311-room Hollywood, Florida resort received
the 2008 Developer of the Year Award for achieving distinction in
hotel development. The newly renovated property also was recognized
for having successfully completed major modernization and
renovation initiatives during the past year in order to enhance
guest experience. The Crowne Plaza Resort Hollywood Beach was
acquired by the Company in 2007 through a joint venture with The
Carlyle Group. The resort is located on a barrier island on the
South Florida coast between the Intracoastal Waterway and the
Atlantic Ocean. The Crowne Plaza Hollywood Beach Resort features
approximately 12,000 square feet of meeting space, a retail food
and beverage outlet, large outdoor swimming pool and 300 valet
parking spaces. Andrew M. Sims, President and CEO of MHI
Hospitality Corporation, stated, "We are delighted to be recognized
by Intercontinental Hotels Group for our development and
improvement efforts at this hotel. In sourcing an underperforming
yet well-located asset, and then unlocking its value through
effective upbranding and repositioning, the Crowne Plaza Hollywood
Beach Resort demonstrates the success of our business model." The
Crowne Plaza Hollywood Beach Resort was honored at the 2008 IHG
Americas Investors & Leadership Conference, held September
24-26 in Los Angeles. About MHI Hospitality Corporation MHI
Hospitality Corporation is a self-advised lodging REIT focused on
the acquisition, redevelopment and management of mid-scale, upscale
and upper-upscale full-service hotels in the Mid-Atlantic, Midwest
and Southeastern United States. Currently, the Company's portfolio
consists of nine properties comprising 2,138 rooms, all of which
operate under the Hilton, InterContinental Hotels Group and
Starwood Hotels and Resorts brands. In addition, the Company has a
25 percent interest in the Crowne Plaza Resort Hollywood Beach and
a leasehold interest in the common area of Shell Island Resort, a
resort condominium property. MHI Hospitality Corporation was
organized in 2004 and is listed on the Russell Microcap(TM) Index.
The Company is headquartered in Williamsburg, Virginia. For more
information please visit http://www.mhihospitality.com/.
DATASOURCE: MHI Hospitality Corporation CONTACT: Bill Zaiser, Chief
Financial Officer of MHI Hospitality Corporation, +1-301-220-5400;
or General Information, Vicki Baker of Financial Relations Board,
+1-703-796-1798, for MHI Hospitality Corporation Web Site:
http://www.mhihospitality.com/
Copyright
Mhi Hospitality Corp. (MM) (NASDAQ:MDH)
Historical Stock Chart
From Jun 2024 to Jul 2024
Mhi Hospitality Corp. (MM) (NASDAQ:MDH)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Mhi Hospitality Corp. (MM) (NASDAQ): 0 recent articles
More Mhi Hospitality (MM) News Articles