SOURCE: GF Management

GF Management

June 06, 2016 10:00 ET

GF Management Builds Florida Presence With Acquisition of the DoubleTree by Hilton Hotel Orlando Airport

PHILADELPHIA, PA--(Marketwired - June 06, 2016) - GF Management, a leading national hotel ownership and management company, announces that, through its affiliate, it has acquired the 353-room DoubleTree by Hilton Hotel Orlando Airport located two miles from Orlando International Airport. This acquisition is the third hotel in the Orlando market acquired by the Company in recent years, adding to the 2013 acquisitions of the Embassy Suites Lake Buena Vista Resort, and the Hilton Garden Inn Orlando/North Lake Mary.

The hotel will maintain its affiliation with the DoubleTree by Hilton brand and will be undertaking a renovation in excess of $8 million which will take place over the next 18 months. The impactful renovation planned for the property will focus on improvements to the public space, guest rooms, and most importantly, the overall guest experience. "We take great pride in the hotels that we own and manage," says Jeff Kolessar, Senior Vice President of Development and Acquisitions for GF Management. "We have enjoyed many acknowledgments of our capital improvements through renovation awards from various brands, and through direct guest feedback. The renovations for the DoubleTree Orlando Airport will certainly exceed expectations."

As an owner and operator for nearly three decades, GF has a disciplined and focused acquisition strategy, identifying assets of value to expand the Company's owned portfolio, with a long term hold model. Since acquiring its first hotel in 1988, GF has grown into one of America's leading hotel owners and managers with 23 hospitality assets now under ownership by its principals and affiliates. This owned portfolio now includes six hotels under various Hilton flags. GF's total owned and managed portfolio consists of 85 hospitality assets in 28 states, comprising over 14,000 rooms.

"The acquisition of the DoubleTree by Hilton Hotel Orlando Airport continues to mark milestones towards GF Management's growth objectives," Kolessar continues. "We will continue to identify quality assets to expand the Company's owned portfolio, and we are prepared for additional growth throughout the remainder of 2016 and into the future."

About DoubleTree by Hilton Hotel Orlando Airport
The DoubleTree by Hilton Hotel Orlando Airport offers convenient access to the Orlando International Airport with 24-hour shuttle service and is situated away from the bustle of Central Florida theme parks, but close enough to reach favorite Orlando attractions in just 20 minutes. The 353 rooms or suites at the hotel offer generous work surfaces, WiFi access and in-room dining. All guest rooms include luxurious bedding and flat-screen TVs, perfect for both business and leisure guests. In addition, the hotel boasts two onsite restaurants and upscale catering options for meetings and events. The DoubleTree hotel provides more than 11,000 square feet of event space, suitable for social, corporate and wedding events. The outdoor patio with a dynamic water feature makes for great entertainment. Additionally, onsite is a modern fitness room, indoor heated swimming pool and hot tub.

About GF Management
GF Management is an award-winning, full-service hospitality ownership, management and advisory company founded in 1988 and based in Center City Philadelphia. With approximately 85 hospitality assets under management, including hotels, resorts, conference centers, catering facilities, casinos and golf courses in 28 states, GF Management specializes in third-party management, asset management and advisory services for a variety of individual, private, institutional and financial clients. Many of GF's core hospitality assets within the portfolio are owned by its principals and therein provide the strength and balance of ownership and management. The Company is currently seeking to expand its portfolio of full-service ownership and management assignments through long-term contracts and joint-venture investment opportunities. For more information about GF Management call 215-972-2222 or visit www.GFHotels.com.

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