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Concord Building with Confidence

RALEIGH, NC-Concord Hospitality is building four hotels and developing an additional five, and it plans to push rates higher.

By Ryan Clark | Updated on September 28, 2010

RALEIGH, NC-Concord Hospitality Enterprises is approaching the future with confidence. Recently, the company signed contracts to manage 18 hotels and is currently building four and developing five more. President and CEO of Concord Hospitality Mark Laport says that it is part of the company’s “three-pronged growth strategy” of third-party management, joint ventures and wholly-owned properties.  

Currently, many companies are having problems getting their hands on financing for any type of new development, particularly in a sector that is waiting for demand to push rates higher. Laport tells GlobeSt.com that Concord hasn’t run into some of these issues, explaining that a lot has to do with their reputation. Marriot has been a close ally for over 20 years and much of their money is coming from smaller banks that have fared well during the downturn. It helps that Concord never had to turn over any properties, he points out.

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