Konover Completes Multi-million Dollar Renovations at Eleven Hotels
Solidifies Its Position in the Midwest
WEST HARTFORD, CT, March 25, 2008. Konover Properties Corporation announced its 2007 year-end achievements demonstrating continued growth in all major real estate markets.
West Hartford based Konover Properties Corporation develops, builds, acquires, manages, and owns real estate across many market segments, including hotels, residential, office, retail, industrial, mixed use, and specialty properties. The organization includes Konover Commercial Corporation, Konover Residential Corporation, Konover Hotel Corporation, SK Properties Development Corporation, and SIKON Construction Services, LLC.
"While the housing market may be in a down cycle," said Simon Konover, President and CEO, "Konover Properties Corporation continues to flourish as demonstrated by the continued success within our five divisions."
The Konover Hotel division solidified its position in the Midwest hospitality market in 2007 by completing multi-million dollar renovations at its eleven hotels in the region. A Konover-related entity purchased an ownership interest in the hotels in late 2006 and Konover Hotel Corporation assumed management of the properties.
"The focus of our efforts in the Midwest this year was to streamline operations, automate back office processes and invest in facility upgrades that will benefit our guests," said Peter H. Mason, CHA, Executive Vice President of Konover Hotel Corporation. "With the completion of these renovations and the launch of all new hotel websites, we have successfully increased occupancy rates and are well positioned for continued growth."
Konover Hotel Corporation's mixed portfolio of nine brands includes 20 select and full service hotels in four states, including the Connecticut Expo Center in Hartford and the Sheraton Hotel at Bradley International Airport. 2007 marked the Sheraton's 20th year of success in Windsor Locks.
"The Sheraton Hotel at Bradley International Airport is a premier facility," said Mr. Mason. "Its successful partnership with Bradley Airport is indicative of the growth and longevity we strive for at all our facilities."
Konover Hotel's success in the market was well recognized by the industry in 2007, as Simon Konover, President and CEO, was named 2007 Connecticut Hotelier by the Connecticut Lodging Association.
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