Prism Hotels & Resorts Adds Sheraton Dallas Fort Worth to Hotel Management Portfolio

More than $7 million committed to extensive hotel renovations

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. May 27, 2014

DALLAS - May 27, 2014 - Dallas-based Prism Hotels & Resorts, a premier full service hotel investment, management and advisory company, announced today that it has assumed management of the Sheraton Dallas Fort Worth Airport Hotel, in partnership with the property's owner and asset manager, Los Angeles-based Stratford Hospitality. Steve Van, president of Prism Hotels & Resorts, made the announcement.

More than $7 million has been committed to renovating the 303-room hotel that will largely impact the hotel's grand three-story atrium, guest rooms, lobby, dining facilities and pool area, with work beginning in June. These renovations are in addition to the more than $1 million that has already been invested in upgrading the hotel's Wi-Fi and state-of-the-art Internet system and new luxury bedding. This investment is reflective of Prism and Stratford's long-term commitment to and vision for this property, with a goal for it to become one of the most recognized Sheraton hotels in the brand's portfolio for both guest service and experience.

“This is an exciting opportunity for us to take the reigns of this prominent hotel in the Dallas community in partnership with Stratford Hospitality,” said Mark Van Amerongen, Prism's senior vice president of operations. “Our plans for this extensive renovation will build on the pillars that make the Sheraton brand great, transform the guest experience and lead to a strengthened positive reputation for this hotel for years to come.”

For more than 30 years, Prism has been delivering results for a diverse range of properties from boutique hotels to exclusive resorts for major brands, including several Sheratons. “Prism's excellent industry reputation for sound results-generating management practices, coupled with their keen understanding of the Dallas market, made them the right management company for this property. We look forward to a strong future together,” said Jan Erik Redrupp, principal of Stratford Hospitality.

As an all-in-one hospitality solution, Prism offers a full range of services in addition to hotel management, including hotel receivership/real estate owned (REO) management, and a variety of advisory services, including project management, due diligence consulting, and the facilitation of brand transitions.

About Prism Hotels & Resorts

As an award winning full service hotel management, investment, and advisory services company, Dallas-based Prism Hotels & Resorts has developed a reputation for operational excellence by increasing hotel performance and delivering measurable results. With 30 years of experience, Prism leverages top industry talent to produce a best-in-class experience that extends from the front desk to the bottom line. Prism currently manages more than 30 hotels for multiple institutional and private owners including urban, suburban and resort destinations. The company has expertise managing all major brands as well as independent destination hotels. For more information, please visit www.prismhotels.com.

About Stratford Hospitality:

Stratford Hospitality provides creative investment strategies to investors in today's hospitality world. As principals and advisors, the company's goal, is to solve complex issues confronting owners and lenders through innovative structures and accretive consulting.

The firm's entrepreneurial spirit, coupled with complementary backgrounds in operations and investments advisory, provides partners with a broad spectrum of perspectives to face the challenges of today's hospitality stakeholders.

For more information please visit stratfordhospitality.com.

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