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Firms Tee Up for Luxury, Upscale Management Deals

The slump in the luxury segment has created the need for specialized management, and this duo of operators is looking to capitalize.

By Maria Wood | Updated on June 04, 2009

SEATTLE-Locally based Dow Hotel Co LLC has launched an initiative to market its services specifically to revenue-depleted luxury hotels. At the same time, StepStone Hospitality of Providence, RI is targeting upscale boutique hotels for new management contracts.

“The luxury segment has been the hardest hit, and it’s very apparent that some of the luxury operators don’t have experience in this kind of a downturn,” says DHC president Murray Dow. “Even after 9/11, the luxury segment wasn’t as impacted as it now.”

Dow says his company typically manages upper-upscale hotels such as Hiltons, Marriotts, Embassy Suites and Sheratons, although it has recently been approved to operate luxury brands, including Westin, Le Meridien and InterContinental. The firm is currently finalizing one luxury management deal, Dow says, adding that the DHC has been approached by banks, a special servicer and institutions to manage luxury hotels on their behalf. Over the course of the next 12 to 18 months, Dow plans to sign five new luxury management contracts.

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