Kana Hotel Group Adds Five Contracts in 1Q; Three Additional Coming on April 1st

• 
  SAVE
• 
  SHARE
• 
  TEXT SIZE
• 
  PRINT
• 
  COMMENT
• 
  PDF

. March 12, 2013

March 12, 2013 - Kana Hotel Group is pleased to announce that they have added five new management contracts in the 1st Quarter of 2013, with three additional contracts coming on board on April 1st. This growth in third party contracts is in addition to Kana's own development pipeline of four premium branded hotels that are opening over the next few months. “The contracts that we've added this quarter come to us from three different ownership groups.

When you have a winning operating formula, such a strong team, and a successful track record, other owners and investors take notice; we've had a lot of inquiries for management assistance.” said Kevin Mahoney, President of Kana Hotel Group. He went on to say “This is an exciting time in Kana's growth cycle; in late 2010 we were exclusively owned and operated properties totaling roughly 13 hotels. Fast forward just over two years and we're approaching 35 properties, with a healthy combination of both owned and third party managed properties”.

The properties added so far in 1st Quarter (totaling 597 rooms) are:
• Embassy Suites Birmingham / Hoover, AL - 208 rooms
• Hilton Garden Inn Tuscaloosa, AL - 122 rooms
• Hampton Inn Beeville, TX - 70 rooms
• Hampton Inn Birmingham I-65, AL - 97 rooms
• Holiday Inn Sunspree Resort, Galveston TX - 100 rooms

Three additional Hotels have already been signed for an April 1st start date. In addition to the third party growth this year, Kana is also opening four additional properties of their own consisting of:

• Embassy Suites Knoxville West - 140 rooms opening May
1st
• Courtyard by Marriott, N. Littlerock, AR - 98 rooms opening August 15th
• Springhill Suites by Marriott, Ridgeland, MS - 96 rooms opening September 15th • Homewood Suites, Mobile, AL - 98 rooms opening Dec 2013

Upon completion of these projects this will bring the total number of Kana Hotel Group developed properties to 21 out of the existing portfolio. Alpesh Patel, CEO of Kana Hotel Group said “We have been fortunate in the last few years with a strong pool of investment partners, and a solid development and operational record within the Hilton and Marriott brands.” He went on to say “In addition to our current projects, we have some other very exciting developments that we hope to announce soon, and are looking forward to an exciting 2014 and 2015 development pipeline.”

About Kana Hotel Group
Kana Hotel Group is located in Knoxville, TN, with additional offices in Tampa, FL. Kana is an award winning independent third party management company with over 3,000 hotel rooms under management, and additional 500+ rooms in development. The portfolio is well diversified amongst major brands such as Hilton, Marriott, and IHG. Kana Hotel Group has extensive relationships with institutional owners and lenders as well as individual ownership groups. More information can be found at www.kanahotelgroup.com.