Two Marriott Hotels Will Anchor 100-Acre Master-Planned Community
RALEIGH-DURHAM, N.C., Aug. 11 /PRNewswire/ -- Jackson-Shaw, a national
real estate development and investment firm, today announced that it has
awarded management contracts to operate two Marriott properties in the
Dallas area to Concord Hospitality Enterprises, one of the nation's
top-ranked hotel developer/owner/operators. Concord also will provide
pre-opening services for the hotels.
The two properties, a 102-room Residence Inn and 104-room Fairfield Inn
& Suites, will anchor The Cascades at The Colony, Jackson-Shaw's 100-acre,
master-planned community in The Colony, Texas, a suburb of Dallas. The
hotels are expected to open in the spring of 2009 and represent
Jackson-Shaw's continued commitment to expanding its hotel portfolio, with
the planned development of another property in Dallas and one in
Jacksonville, Florida.
"We went through an extensive process to choose a hotel management
company that was aligned with our vision for the community, as well as with
our values as a developer," said Christopher Sheldon, vice president of
hotel operations at Jackson-Shaw. "Concord has the expertise and experience
to deliver the level of quality and excellence we expect for these
properties, which are located along a major corridor in an emerging
suburb."
The addition of the two contracts increases Concord's managed
properties to half of the company's total portfolio of more than 50 hotels,
and moves the company towards its stated goal of doubling its portfolio
size by 2010.
"Jackson-Shaw is one of the most respected real estate developers in
the country, and we look forward to partnering with them to extend their
track record of excellence," said Grant Sabroff, senior vice president of
business development at Concord. "Concord intends to build on its
reputation for successfully positioning new hotels and providing excellence
in pre-opening services, in addition to working hand-in-hand with the
owners and Marriott to leverage our expertise in managing upper
select-service hotels."
The Residence Inn, located at 6900 Cascades Court, will feature a 350
square-foot meeting room, a business library, exercise room, all-purpose
sports center for basketball, tennis and volleyball, guest laundry
facility, outdoor pool and whirlpool, complimentary in-room high-speed
Internet access and surface parking for 107 cars.
The select-service PLUS, Marriott Fairfield Inn & Suites, located at
5909 Stone Creek Drive, will feature a 5,500 square-foot events center made
up of a 3,500 square-foot ballroom and two 1,000 square-foot meeting rooms.
Additionally, there will be a business library, exercise room, guest
laundry facility, outdoor pool and whirlpool, complimentary in-room
high-speed Internet access and a complimentary hot breakfast will be
offered each morning. The property will include surface parking for 133
cars.
Jackson-Shaw has completed the first phase of The Cascades at The
Colony, known as the Campus @ Cascades, comprising six buildings totaling
over 200,000 square feet of flex space, as well as the project's focal
point, a two-acre park with cascading water feature. Upon completion of the
entire development, The Cascades at The Colony will include 200,000 square
feet of office space, 200,000 square feet of flex space and 100,000 square
feet of retail space, in addition to the two hotel properties. In addition,
KB Homes will develop 184 townhome units and 108 garden homes.
About Jackson-Shaw
Jackson-Shaw, a national real estate development company headquartered
in Dallas, Texas, has more than 37 years of experience in the development
of diversified real estate properties. The company has completed more than
38 million square feet of development since its founding in 1971. Today,
Jackson-Shaw focuses its development activity on a variety of project
types, including office, industrial, mixed use, hospitality and
residential. The company's consistent goal is to increase and enhance
values in real property assets for both its clients and capital partners.
About Concord Hospitality
Concord Hospitality Enterprises Company, an award-winning hotel
management and development company based in Raleigh-Durham, N.C., manages
50 hotels and with over 6,000 guest rooms in 11 states and two Canadian
providences under such well-known brands as Renaissance, Marriott,
Courtyard by Marriott, Residence Inn by Marriott, Fairfield Inn and Suites
by Marriott, SpringHill Suites by Marriott, and Hampton Inn and Suites, and
an independent boutique hotel. Formed in 1985, the company was recently
listed as one of the top management companies in the nation by Hotel &
Motel Management. Concord properties are some of the most awarded hotels in
the country, having won nearly 30 honors in the past two years alone. For
more information, visit http://www.concordhotels.com.
Contact: Melanie Boyer, Jerry Daly
(703) 435-6293
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[Via Real Estate Newswire]
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