|By PR Newswire||
|January 23, 2014 05:01 AM EST||
DENVER, Jan. 23, 2014 /PRNewswire-iReach/ -- Sage Hospitality, one of the nation's top hotel management and investment companies, recently began management contracts with eight hotels owned by Blackstone and plans to transition one more next month. The nine hotel portfolio includes Full Service, Select Service and extended stay hotels in North Carolina, New Jersey and New York.
"We began this relationship with Blackstone about a year ago and we've added 13 management contracts since," said Michael Everett, Chief Investment Officer of Sage Hospitality. "When our owners want to expand their relationship with us, it is a testament to Sage's commitment to be the very best in our industry."
The portfolio includes a variety of assets in the Marriott, Hilton, Starwood and IHG families. Sage will also be working for the first time with Hyatt and Element brands. Blackstone is the largest real estate private equity firm in the world today with $69 billion of assets under management.
"The brand dynamic is something our team really excels at," said Robert Butler, Senior Vice President Operations for Sage's Select Service Division. "It's exciting to learn the different nuances of hotel brands, it only expands our knowledge in the industry and allows us to be more successful across our entire portfolio."
To view all hotels within the Sage Hospitality portfolio visit www.sagehospitality.com.
Founded in 1984, Sage Hospitality has strategically grown into one of the largest privately held hotel management, investment and development companies in the nation operating a variety of large, full-service hotels and extended stay and select-service properties. Sage Hospitality's comprehensive management portfolio includes major international brands for Marriott, Starwood, Hilton and IHG as well as the independent boutique hotels. Sage Hospitality has further differentiated with the creation of the Sage Restaurant Group, which has created and is managing over nine unique restaurant concepts including the acclaimed Mercat a la Planxa restaurant in Chicago. For more information, please visit www.sagehospitality.com.
Media Contact: Kate Davis, Sage Hospitality, 303-595-7259, [email protected]
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SOURCE Sage Hospitality