DePalma Hotel Corporation’s record-breaking growth drives name-change to DePalma Hotels & Resorts. Portfolio growth continues in 2014.
DePalma adds 440 key “Hotel Bridgewater-Somerset” in Somerset, NJ to portfolio of managed hotels with 60-day pipeline expectations for additional managed properties in Texas, Oklahoma, and Colorado.
Arlington, TX, March 21, 2014: Brian DePalma, President & CEO of DePalma Hotel Corporation announced today the evolution of DePalma Hotel Corporation to become DePalma Hotels & Resorts. “We have doubled our managed key count within the trailing 12 months with an extension of properties under management in a wider variety of property types such as boutique resorts, beach-front hotels, and convention properties” said DePalma. “The DePalma team felt our growth in new property segments was better reflected through a new name reflecting our continued focus on broader geographic representation and the success we bring to new hotels under management regardless of their particular positioning.”
Portfolio performance and success over the trailing 12 months has been a key driver of portfolio growth for DePalma. “We are seeing key metric improvements with our portfolio as a whole”, noted Bob Lepore, Executive Vice President, Performance. “Metrics such as financial performance and index growth continue to demonstrate core success for the portfolio, but we are also proud of our teams for growing other critical metrics such as online property reputation 17% year over year” said Lepore.
The recently-added Hotel Somerset Bridgewater, Somerset New Jersey, in Somerset New Jersey, is an indicator of how portfolio performance drives contract development. The 440 key hotel, recently purchased by New Jersey Hospitality, LLC, is to begin an extensive renovation for conversion to an upper-upscale brand affiliation. “The new owners of the Hotel Somerset Bridgewater asked for extensive information about our company performance from our team as they were vetting management companies” remarked Joseph DePalma, Founder & Chairman for DePalma Hotels & Resorts.” “It was easy to share the combined results of both our long-term contracts and recent hotel additions to the New Jersey Hospitality team. From financial results to Quality Assurance improvements as well as multiple other success metrics, we allowed our portfolio performance data to speak for itself.”
DePalma Hotels & Resorts, founded in 1983, is a national hotel & conference center management company with a diverse portfolio of properties including select-service Inns, full-service conference hotels and independent resorts. DePalma’s broad range of hospitality expertise includes achievements for a wide variety of clients from independent hotel owners and multi-portfolio investment groups to asset management for national financial institutions.