Hamister Hospitality Partners with HSBC Capital in Acquiring its 10th Hotel
Buffalo, NY (December 1, 2006) – The Hamister Hospitality Group, LLC purchased the Pittsburgh Cranberry Township Hampton Inn in partnership with HSBC Capital (USA) Inc. on November 30, 2006. Hamister Hospitality now owns and manages 3 hotels in Cranberry Township, one of the fastest growing areas in the US in terms of population and business.
“We are especially enthusiastic about the addition of another Hampton Inn to our portfolio,” said Mark Hamister, CEO of The Hamister Group, Inc.. “Hampton Inn was given the J. D. Power award of ‘Highest Guest Satisfaction Among Mid-Priced Hotels with Limited Service’ and is one of the most popular select-service hotel brands.”
Hamister Hospitality will retain the excellent staff and management already in place at the Cranberry Township Hampton Inn.
The company intends to purchase 7 to 10 hotels in the Greater Pittsburgh area by 2010. This Pittsburgh initiative forms part of Hamister Hospitality’s plan to acquire and/or build 50 hotels by 2012.
About HSBC Capital (USA) Inc.
HSBC Capital (USA) Inc. was established in 1991 and currently manages approximately $600 million in committed capital. HSBC Capital provides private equity and mezzanine capital to profitable small to mid size companies and real estate opportunities across the United States. HSBC Capital is part of the HSBC Group, one of the world’s leading financial institutions. For more information, visit http://www.hsbc.com
For more information on Hamister Hospitality, visit www.hamisterhospitality.com |