Pittsburgh Case Study
As the Hamister Group, Inc.’s hotel management efforts were in their early stages of development, the company began focusing on three hotel properties near Pittsburgh, Pennsylvania.
The hotels were being marketed for sale and the owner had a dilemma on his hands.
For starters, all three properties at risk of losing their flag affiliation from Hilton, which would have been a devastating blow to the operation of the properties. The owner had two months to either sell the properties or to complete a total refresh of each hotel. He was running out of time and money.
The Hamister Group, Inc. stepped in as a purchaser of the three properties, confident they could meet the challenge of turning the operations around and realizing the potential of each individual hotel. The company even assumed the prior owner’s mortgage financing.
After only five months, the Hamister Group team completed all of the refresh work and secured a new 10-year franchise agreement for each property.
Today, the same three hotel properties that were once at risk of losing their flag affiliation are a source of operational pride for The Hamister Group, Inc.
The hotels paid dividends of 8% in their first year under Hamister ownership and management, 15 % in their second year, and 20% in every year since.
To talk about how we can help you, contact Dan Hamister, our Senior Vice President of Business Development at DMH@HamisterGroup.com or call (716) 839-4000.
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