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City Hotels Expands Into Third-party Management and Ownership

BETHESDA, MD-Expansion is the name of the game as City Hotels SA announces plans to increase its hotel management and ownership mix during the next three years.

By Diane Cook | Updated on November 16, 2000

BETHESDA, MD-Brussels-based hotel ownership company City Hotel SA plans to expand into third-party hotel management, operate hotels for other institutional and individual investors in the US and increase its portfolio of a dozen hotels to as many as 30 in the US and Europe within the next two to three years.

“City Hotels has managed its own hotels for more than 25 years, first in Europe and for nearly the past decade, in the US,” says Jerry Herman, City Hotel USA’s managing director. “We now have the expertise and infrastructure in place, and proven asset value creation, to expand into third-party management.”

The company signed its first long-term contract to operate the Homewood Suites Hotel, in Falls Church, VA and plans to add up to 20 management contracts within the next several years. Ultimately, the company plans to manage about 25 properties in the US. Expansion will begin ysin Europe. Herman says the firm recently completed a major equity transaction with a subsidiary of the Almanij Group, a large European institutional investor.

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