And Innkeepers USA has hired Island Hospitality Management LLC, also based in Palm Beach, to manage the 17-story property at 1212 Pacific Ave. ". "The hotel will appeal to an array of guests, including summer beachgoers, business travelers, convention attendees, and gamers," says Jeff Waldt, the latter company's SVP of marketing and sales.

The newly reopened property is located just off this city's famed boardwalk. It does have a small meeting space, amounting to 1,200 sf and capable of handling up to 44 people.

In terms of the overall hospitality picture, "we believe this phase of the business cycle will create additional opportunities for experienced operators," says Island Hospitality president/CEO Jeffrey Fisher, in a statement. "Currently, we are seeing two types of activity. Investors seek management companies with repositioning expertise. And we find that owners want operators who know how to optimize returns."

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