Hamister Partners with HSBC to Acquire Pittsburgh Portfolio
OCTOBER 9, 2006. The Hamister Hospitality Group, LLC doubled its size on October 3, 2006 with the purchase of four Pittsburgh hotels: the Cranberry Township Residence Inn by Marriott, the Greentree Hampton Inn by Hilton, the Pittsburgh Airport Hampton Inn by Hilton, and the Cranberry Township Holiday Inn Express by Intercontinental Hotels. The total number of rooms owned by the company increased from 369 to 825. HSBC Capital partnered with the Hamister Group in providing equity capital to fund the transaction.
'We are very excited about the prospects for this investment,' said Stephen Hindmarch, a Managing Director of HSBC Capital (USA) Inc. 'This transaction provides HSBC Capital the opportunity to partner with a seasoned management team and rising leader in the hospitality industry.'
Mark Hamister, a recognized long-term care leader, founded Hamister Hospitality in 2004 with the purchase of a Fairfield Inn and a Sleep Inn in the Nashville metro. In 2005 he acquired three more Choice branded properties in Tennessee and Kentucky.
'We wanted to diversity our portfolio by entering a business that we know and understand,' commented Hamister. 'Since we have been operating our adult living facilities like luxury hotels since the 1980's, our team already has the skill sets necessary for hotel management.'
Hamister Hospitality proved its determination to excel in the hotel business last week, when two of the properties it manages, the Nashville Smyrna Sleep Inn and the Lebanon Tennessee Sleep Inn, earned Choice International Gold and Platinum Hospitality Awards. These awards are presented annually to hotels who rate in the top percentage of Choice's rigorous quality assurance and customer satisfaction standards. Evaluation criteria include staff professionalism, attitude, and training; safety and security; maintenance and energy conservation; and physical conditions.
The company is confident that its newly acquired Pittsburgh hotels will maintain the same outstanding level of service. Hampton Inns have been given the 'Highest Guest Satisfaction Among Mid-Priced Hotels with Limited Service' award by J.D. Powers and Associates and all four hotels have great staff and management teams.
Hamister believes that the company's success in both the long-term care and hotel industries is due to four factors: a determination to hire the right people for the right positions; commitment to listening to its customers and fulfilling their needs, wants, and desires; a constant push for excellence and a refusal to accept mediocrity; and good financial partners.
Hamister Hospitality plans to buy or develop five to ten Marriott, Hilton, Intercontinental, or Choice branded hotels per year.
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