Atco, NJ - October 12, 2007 - Privately held Infinity Hotel Group ("Infinity"), a leading, independent and progressive investment management company with a focus on the lodging and hospitality industry, today announced the acquisition of the Comfort Inn Pottstown. The hotel will undergo an extensive $1.5 million renovation in early 2008. The hotel will be managed by Infinity Asset Management and continue to operate under franchise license from Choice Hotels International.
The Comfort Inn Pottstown is a 121-unit interior corridor property located minutes from the intersection of Rt. 100 and Rt. 422. Additionally, the hotel has over 3,000 square feet of meeting space and an outdoor pool. "Infinity's investment strategy is driven by the organization's corporate mission of selective acquisition, renovation, and repositioning of first-class, mid-scale properties," said Mayur Chheda, Infinity's Chief Development Officer and Principal. "We are opportunistic investors where our team can create and enhance value through a combination of changes in revenue and operational enhancements, renovations, and repositioning to maximize guest satisfaction and hotel performance."
Scheduled to be completed in early 2008, the extensive $1.5 million dollar renovation plan includes complete new, well-appointed guestroom decor and furnishings, upgraded bathroom amenities, and full renovation of public spaces including lobby, corridors, and meeting rooms. New guestroom amenities include microwave and refrigerator in all rooms. The renovation also will include the addition of a fitness center and 24 hour business center. "With our capital plan to reinvent and upgrade the guestrooms and public spaces in the hotel and thus the overall guest experience, the Comfort Inn Pottstown will be well positioned by quickly become a premier market leader."
Located between Reading and Philadelphia, in vibrant Pottstown, the Comfort Inn is easily accessible from US 422 and State Route 100. Demand generators such as Comcast, Pottstown Memorial Medical Center, Neapco, Dana Corporation, Pottstown Industrial Park, MONTCO, Occidental Chemical, Excelon and Limerick Nuclear Power Plant are each within six miles of the Property. Additionally, the hotel is located minutes from the new Philadelphia Premium Outlets set to open in early November 2008. The Philadelphia Premium Outlets, located in Limerick, PA, will offer upscale outlet shopping with an impressive collection of 120 designer and name brand outlet stores.
About Infinity Hotel Group
Infinity Hotel Group is a leading, independent and progressive investment management company with a focus on the lodging and hospitality industry. Since 1981, IHG has successfully owned, operated, and managed properties throughout the Northeast. As a full service hospitality company, Infinity provides innovative management, development, acquisition, accounting, and capital strategies, as well as a spectrum of consulting expertise.
In June 2007, Infinity was ranked as the #6 fastest growing company in Southern New Jersey. Infinity Hotel Group is headquartered in Atco, NJ and currently manages properties including Comfort Inn - Atlantic City / Absecon, Galloway, NJ, Quality Inn and Suites - Atlantic City / Absecon, Galloway, NJ, Best Western - Monroe Inn and Suites, Williamstown, NJ and Comfort Inn Pottstown, Pottstown, PA. For more information, please visit www.infinityhotelgroup.com
For additional information please visit www.infinityhotelgroup.com or contact: Mayur Chheda, Principal and Chief Development Officer/ Infinity Hotel Group, LLC/ 277 White Horse Pike, Suite 102/ Atco, New Jersey 08004/ Phone: 856.753.3300 x111/ Fax: 856.753.0996/ Email: [email protected]