Actus Lend Lease, part of Lend Lease Corp. Ltd., was chosen in September 2006 to acquire, finance, design, develop, operate and own the hotels. The total project, valued at more than $2.4 billion, involves construction and renovation of at least 45 hotels.
The hotel contract is a first for the Army, which is underfunded on capital repairs and maintenance, and for Actus Lend Lease, which has been a frequent developer of family housing on military bases for years. Actus Lend Lease will work with InterContinental Hotels Group to operate and manage the Army hotels.
"Never before has the Army partnered on such a wide scale with private sector firms to construct, renovate, maintain, operate and manage hotels on military installations," Dale Connor, Actus Lend Lease managing director, stated in a release. He added that the PAL program will provide superior hospitality services and facilities for soldiers and their families, as well as government personnel visiting bases.
Actus Lend Lease now has ten operational installations nationwide with total development value of approximately $5.8 billion. It is also the preferred bidder on two other projects with a combined initial development budget exceeding $800 million.
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