Stalled Development Projects
Embassy Suites, Tampa, FL
188 Inverness Drive, Englewood, CO
Marriott, Burr Ridge, IL
Eagle Hospitality Properties Trust
William P. Butler
Thomas E. Banta
Daniel T. Fay
Robert D. Fessler
Dan W. Daniele
Nicholas J. Heekin
Property Type: Full Service Hotel
Corporex identified an outstanding location with an underperforming asset, acquired the property and leveraged relationships in the lodging industry to upgrade the flag from Guest Quarters to Embassy Suites.
, a Corporex affiliate, assumed management responsibilities.
In the first year of ownership, GOP margin increased by 7 points.
In the three years prior to the sale of the hotel, the property GOP margin was, on average, 10 points higher than the competitive set.
Property sold for $33.3M in 2004
Return on Investment
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