Shamrock-Hostmark Fund Successfully Completes First Asset Sale
JULY 14, 2008. The Shamrock-Hostmark Hotel Fund, LP, announced the sale of a SpringHill Suites by Marriott located in Miami, Florida. The transaction took place on June 30, 2008.
The Fund acquired the 7-story, 151-room AmeriSuites Hotel located in Miami, Florida, adjacent to Miami International Airport in November, 2005. The property was rebranded at acquisition from an AmeriSuites to Springhill Suites by Marriott. While repositioning the asset, operator Hostmark Hospitality Group leveraged executive talent to produce an aggressive performance objective and deliver an improved guest experience. The hotel produced a total return to the Fund of 2.3X and an IRR of approximately 43%.
Since its inception in November, 2005, the Fund has acquired six hotels that fit the qualifying criteria. The Fund's portfolio includes hotels in Princeton, NJ, San Antonio, TX, Tampa, FL, Palm Desert, CA, and Andover, MA.
With the combined experience of managing over $3 billion in commercial assets, the Fund's co-sponsors are uniquely positioned to capitalize on the opportunities that exist in the lodging market today. Relying on a talented team with over 100 years of experience in commercial real estate management, the Fund is actively pursuing hotel investments in major markets throughout the United States that would benefit from enhanced management and/or repositioning to enable the Fund to achieve superior returns in today's investment markets.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
