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NHCA eventually grew to one of the top twenty long-term care and sub-acute providers in the Country, with sales exceeding one hundred million by 1996 with 37 individual locations or businesses covering six states and over 15,000 co-workers. The businesses experienced several business and customer metrics, which exceeded industry standards throughout most of its tenure. It was so highly recognized for its focus that other companies engaged NHCA to manage its facilities, which were failing to meet NHCA's high standards prior to the engagement. These standards included regulatory compliance, customer expectation compliance, financial performance, higher occupancy standards, and higher private pay ratios to name a few.
In late 1995 NHCA's research group made the case for a major collision of quality and money within the skilled and sub-acute service areas of the company. Our commitment to quality made us more vulnerable than some to this predicted collision. We therefore decided that it was time to sell our company to a well-capitalized, well-managed larger company for $134 million in mid-1996. Our customers and co-workers had the opportunity to continue their relationships with a well-capitalized company, creating a win opportunity for them. Our shareholders attained an internal rate of annual return on their investment exceeding 38%.
Our predictions were accurate: the expected collision did occur and it was in fact much deeper and lasted longer than we had originally predicted. Our commitment to market research and prediction was heightened to yet new levels. Today we conduct annual reviews of the marketplace considering all factors in order to maintain our focus and commitment to benefit to all three constituencies (customers, co-workers, and shareholders).
Our research subsequently suggested that home health care, with some exceptions, was also headed towards the same fate as in-patient skilled and sub-acute care faculties. Consequently The MedLink Group, Inc. (owned by the new NHCA) decided to either close or sell all of its home health and supplemental staffing offices throughout the country. This process was concluded in 2002. Since none of the remaining companies were owned or operated by NHCA this effectively brought to an end the operations of both NHCA and the MedLink Group, Inc.
The majority of the related shareholders purchased Health Services of Northern New York, Inc., a home care agency in St. Lawrence County, New York, in 1997. This company has consistently been operated as a separate corporate entity. HSNNY provides comprehensive services to hundreds of clients in the largest county (in terms of square miles of property) in New York State. At the time of purchase, the annual sales were just less than five million dollars with sales today exceeding nine million producing industry average margins. HSNNY purchases some of its back office functions from The Hamister Group, Inc.
In 1999, Mr. Hamister formed a company by the name of Premier Self Storage, Inc. This company was formed to respond to the growing market needs of the self-storage business. Mr. Hamister recognized that the majority of the then current supply of such facilities was offering simple "boxes" of semi-secure space. Following multiple customer focus group interviews Hamister decided to enter the industry with a cadre of special features not heretofore offered by the majority of the industry. These add-on services included such things as: improved security including monitoring cameras; improved cleaning and refuse disposal for customers; and other features designed to appeal to female heads of households and manufacturers’ representatives.
In late 2004, the research team of the Hamister Group, Inc. recommended that the company exit the acquisition initiatives of this group because of atypically high capitalization rates being employed by some of the larger publicly traded companies in the business. In keeping with the original philosophy that this market segment was geared more toward development (rather than a long-term hold as is the case with the other segments with which the company is involved), the Hamister Group, Inc. decided that it was time to exit the current portfolio of self-storage facilities. Consequently in January of 2005 PSS sold all of its current portfolio to Public Storage, Inc. (a publicly traded REIT) for $17,518,326 returning a 37% to 41% IRR to its investors (the range is caused by the timing of entry and the price level of entry of each of its shareholders:those that invested at inception earned a 41% IRR annually and those who entered at later dates earned between 37% and 41% IRR annually). This is the second time that Mr. Hamister delivered exit returns that exceeded 35% per annum for the company’s shareholders.
In late 2002 Mr. Hamister formed The Hamister Group, Inc., a management company that provides assisted living, health care, and hotel management services by contract to a host of companies. All companies managed by The Hamister Group, Inc. operate with full individual corporate integrity.
In 2004, following a year of research and discovery, Mark Hamister formed the Hamister Hospitality Group, LLC, whose primary objective is the acquisition of select-service and full-service hotels in the Eastern half of the United States. This natural evolution into hotels started in 1981 when Mr. Hamister decided that his executives and managers would study the hotel industry (specifically Marriott and Disney in some degree of detail) and adopt features of those hotel companies into its assisted living and skilled living facilities. In short, we have been operating with a hotel like environment for over 25 years.
Accordingly, The Hamister Group, Inc., acting as a manager for the Hospitality Group, negotiated the purchase of its first two hotels located in Smyrna, Tennessee. This transaction closed in October 2004 and included the 63-room Nashville Smyrna Fairfield Inn & Suites by Marriott as well as the 76-room Nashville Smyrna Sleep Inn & Suites by Choice Hotels.
Hamister Hospitality Group, LLC successfully completed the purchase of its third hotel on August 17, 2005 with the purchase of the 80 room, all suites, Knoxville Airport Mainstay Suites located in Alcoa, Tennessee. This hotel is located in a suburb of Knoxville, TN and is considered an airport hotel (2 miles from Knoxville Airport). This is the group's first entry into the extended stay sector of the select service hotel segment. MainStay Suites is a brand of Choice Hotels International.
The acquisition process continued on September 21, 2005 with the purchase of the 63-room Sleep Inn at 3330 Preston Highway in Louisville , Kentucky . The Louisville Sleep Inn is located on the Louisville Fairgrounds and is within two miles of the Louisville airport, the Fairground's facilities, Churchill Downs, Louisville University and many other attractions. Hamister Hospitality intends to add a swimming pool and a fitness center within the next six months.
Hamister Hospitality announced the acquisition of the Sleep Inn & Suites located at 150 S. Eastgate Court, Lebanon, Tennessee on December 1, 2005. The Lebanon Tennessee Sleep Inn & Suites is located just off Route 40, near the Route 109 Exit (Exit 232) and is just 10 miles from the Nashville airport. This 73-room hotel was built in 2003 and serves the growing northeast suburb of Nashville.
On October 3, 2006 The Hamister Group purchased 4 Pittsburgh hotels: the Pittsburgh Cranberry Township Residence Inn, the Pittsburgh Airport Hampton Inn, the Pittsburgh Greentree Hampton Inn, and the Pittsburgh Cranberry Township Holiday Inn Express.
The Pittsburgh Cranberry Township Residence Inn is an all-suite hotel with 96 guest rooms, meeting space, an indoor pool, a sport court, and a fitness center. It is located at the cross roads of Interstate 79 and the Pennsylvania Turnpike (I-76) within easy access of downtown Pittsburgh, Grove City Factory Outlet Mall and Moraine State Park. This Pittsburgh hotel is adjacent to the entrance of The Thorn Hill Industrial Park
This Pittsburgh Airport Hampton Inn features 127 guest rooms, meeting space, and a fitness center. The Hampton Inn Pittsburgh Airport is located 6 miles from Pittsburgh International Airport, 1/2 mile from Robert Morris University, 25 miles from Mountaineer Race Track and Casino, and 13 miles from PNC Park and Heinz Field. It is within a short driving distance of the University of Pittsburgh, Carnegie Mellon University, and the University of Pittsburgh Medical Centers.
The Pittsburgh Greentree Hampton Inn features 132 guest rooms, meeting space, and a fitness center. This Pittsburgh hotel is located adjacent to The Foster Plaza and Parkway Center Business Parks. It is within a short distance of PNC Park (the Pittsburgh Pirates Stadium), and Heinz Field (the Pittsburgh Steelers Stadium), Post Gazette Pavilion, Mellon Arena, Station Square and the Carnegie Science Center.
The Pittsburgh Cranberry Township Holiday Inn Express features 101 guest rooms, a meeting room, a fitness center, complimentary continental breakfast, and high-speed wireless internet access. It is a pet friendly hotel located just one mile off Interstate I-79.
Hamister Hospitality acquired its 10th hotel on November 30, 2006. The Pittsburgh Cranberry Township Hampton Inn is a 117-room hotel is conveniently located off Interstate 79 and the Pennsylvania Turnpike (I-76). It features a meeting room, an indoor swimming pool, a sauna, and a fitness center. This Pittsburgh hotel is adjacent to the entrance of Thorn Hill industrial park, which house corporate headquarters for Marconi, the Society of Automotive Engineers, Accredo Health Services, American Eagle Outfitters, Joy Mining, and U.S. Filter.
In 2007, The Hamister Group, Inc. ranked 4212 on the Inc. 5,000 list.
Hamister Hospitality continues to look for attractive opportunities for select-service hotels in growing markets where the terms and price of the transaction are attractive to both Seller and Buyer. We plan to purchase or build 5-10 hotels per year.
We pledge to enhance your experience and deliver beyond your expectations each day!
In Memory of Our Dear Friend and Corporate Officer
LISA CLARK DRISCOLL
July 24, 1958 - January 25, 2006
Former Senior Vice President, Business Development
Lisa Driscoll led the acquisition and development programs of The Hamister Group and its affiliated companies. She was with The Hamister Group for over 24 years, having begun her career in 1982 as an intern while completing an MBA in Health Systems Management at the University at Buffalo . She held a variety of positions with The Hamister Group, including: executive assistant to the Chairman, sports management, strategic planning, operations and marketing roles. As Senior Vice-President she focused on acquisition and development activities.
During her 24-year career with The Hamister Group, she chaired a dozen annual training conferences for all of the firm's leaders around the country and was major contributor to insightful planning and training throughout the Company. She was the recipient of many awards from inside and outside the company in areas of leadership. Throughout her career everyone at The Hamister Group could count on her to provide her best advice and candid assessments. She was thoroughly committed, unfailing, and worked extremely hard at whatever she undertook.
Moreover, Lisa Driscoll was a confidant, a friend, and a partner in the truest form of the word to many at the Hamister Group including its Chairman, Mark Hamister. She was one of the three senior officers responsible for the company. Lisa will be dearly missed by everyone.
She lived in Orchard Park, NY, and is survived by her husband Michael and their three children. The family is active in USTA Tennis, the Orchard Park High School Athletic Booster Club, Varsity Tennis, Orchard Park Youth Soccer and Basketball. Lisa herself was the treasurer of the Eagle Ridge Tennis and Swim Club in Orchard Park. She was a beloved Mother and Wife and talked about her children and her husband frequently at the office. Our corporate family grieves the loss of Lisa with her family.
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