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June 2007 |
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Thayer Acquires Three Marriott-branded Hotels at Miami Airport |
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Thayer Lodging Group today announced that it has acquired a complex of
three Marriott-branded hotels at Miami International Airport from Marriott International,
Inc. (NYSE: MAR) for $57.5 million. Thayer said it plans to invest an additional $65 million
to totally makeover the complex. The renovation/construction will take place in phases, with
a final completion date planned for early 2009 to coincide with completion of a major expansion
of the airport and regional transportation hub. Marriott will continue to manage the hotels
and oversee all construction and renovation projects......
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Thayer Lodging Group Planning a 575 room Expansion at the Wyndham Miami Airport Hotel and Executive Meeting Center.
June 6, 2006 - Thayer Lodging Group, owner of the Wyndham Miami Airport Hotel and Executive Meeting Center, is please to announce its plans for expansion. Thomas Kammerer, Managing Director of Thayer, said, “We´re looking at a 575 room expansion and a 50,000 SF addition of meeting space. We expect a defined scope decision by the end of the third quarter.” The plans follow a recent renovation to the hotel and construction of an Executive Meeting Center.
Thayer has recently unveiled its renovations and revolutionary Executive Meeting Center (EMC) concept. Selim Soliman, General Manager of the hotel, said, "We are committed to being THE hotel destination for the Miami International Airport area. With a renovation budget exceeding $11-Million for 2005 and 2006, you can see our progress in remodeling and improving the property. Additionally, our expansion plans reflect our commitment to compliment the overall airport's growth project. From guest comfort to our themed décor, and most importantly our revolutionary airport traveler conveniences, we will have a unique position to exceed guests´ expectations."
EMCs offer a neutral location for first class corporate conferences and training meetings. Each meeting room boasts state of the art touch screens, wireless audio visual controls and network access from the comfort of a Herman Miller ergonomic seat at a glare-free top conference table. The 20,000 SF meeting center and ballroom can accommodate up to 920 banquet attendees or 558 conference attendees. Meeting planners have dedicated offices to orchestrate their event and they have a personal meeting concierge with a dedicated planning team to assuage the otherwise hectic process and provide a plethora of business services.
Thayer was founded in 1991 by Leland Pillsbury and Fred Malek to develop and own hotel real estate throughout the United States. Since its founding, Thayer has successfully launched four venture funds and six single purpose investment entities with total capital commitments in excess of $3.5 billion. The company has developed, built, or acquired over 35 hotels since inception, including the world-class Grande Lakes Resort in Orlando, Florida, the largest and most expensive non-gaming resort ever built in the United States.
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