Sage and Marriott to revive Mt. Laurel hotel

When it comes to some of the most dynamic initiatives in the hotel and restaurant business, Sage Hospitality has the kind of track record that's pretty easy to recognize. With hotels and restaurants from coast to coast, Denver-based Sage Hospitality Resources not only creates value for the hotel owners and investors through expert asset management; the company develops the kind of desirable properties that attract discerning travelers - and the cycle repeats itself.

Founded in 1984 by partners Walter Isenberg and Zack Neumeyer, Sage Hospitality is the force behind the management of the Mt. Laurel Marriott, the "new" hotel on Route 73, just off the New Jersey Turnpike. Sage transformed the tired ten-story building - formerly a Hilton, a Clarion, and a Radisson - into a sleek, chic hotel that must be a welcome sight for weary wayfarers. But the $11.5 million facelift - which included a total lobby refurbishment, new walls, furniture, and bedding for the guest rooms, and a dazzling new facade - is only part of the story. Milwaukee-based Wave Development LLC is building CoCo Key, a 55,000-square foot, indoor water resort, behind the main building. It's this kind of savvy partnering and planning that have earned Sage a reputation as an innovative leader in the management and development of premium-branded and independent hotels, in 24 states from California to Florida.

The hotel's extreme makeover comes as no great surprise to industry insiders; Sage is known for the turnaround of dozens of distressed properties, as well as the adaptive reuse of historically significant buildings. Take, for example, Chicago's Blackstone Hotel. Erected on the South Loop in 1910, the grand Beaux Arts-style structure by Benjamin Marshall, the storied building fell into disrepair during the 1990s. Now beautifully updated and restored, it is a major player in the revitalization of the neighborhood. Other successful examples of Sage's commitment to adaptive reuse are Rhode Island's Renaissance Providence, housed in a handsome Masonic temple, and the Nines, situated inside the Meier and Frank department store in downtown Portland, Oregon. Such projects have earned Sage the 2002 Conversion of the Year Award by Marriott International for the Renaissance Pittsburgh, and the 2000 California Preservationist's Award for the adaptive reuse of the San Diego Savings and Trust Bank into the Courtyard by Marriott.

The rehabilitation of older properties meshes perfectly with Sage's practice of seeking areas in transition. This not only provides sound opportunities for investors, but also helps the economy of developing areas.

The Mt. Laurel Marriott is one of several properties managed by Sage in the tri-state area. Sage is also responsible for the Holiday Inn Select in Trevose, PA, and the Fairfield Inn by Marriott in Wilmington/Newark, DE. The company's commitment to this region is solid. In fact, the company is also committed to community philanthropy, particularly for children's charities. Among their beneficiaries are Concerts for Kids, Make a Wish Foundation, the National Children's Cancer Society, Special Olympics, and UNICEF, all of which are supported through Sage's Dollars for Dreams company-wide fundraising efforts.

With common sense, vision, a sense of fiscal responsibility, and a heart of gold, Sage Hospitality is making a difference. Wherever they go.

Contact: Liza Deringer | Breslow Partners/ [email protected]/ 215.731.2000 x211


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