Olympus Hospitality Consolidates Four Niche Brands
<B>Olympus Hospitality Consolidates Four Niche Brands</B>
By Bruce Serlen
A new hotel company was born earlier this month when Olympus Hospitality Group brought four niche brands together under one umbrella. Included in the package are a number of full- or limited-service business hotels.
For the corporate travel buyer, the group's Unique Hotels brand has a strong presence in the tight New York City market, with five of its seven properties located there. Likewise, the two franchise brands--Park Plaza International and Park Inns International--have a portfolio of nearly 100 properties and are a strong presence in Jakarta, Indonesia, and Kuala Lumpur, Malaysia. The fourth brand, Rockresorts, carries a well-known classic name in the resort segment.
"Clearly, the corporate travel buyer is a key target for Unique Hotels," said L.K. Eric Prevette, president. "These are boutique properties, which allows us to stress personal service. Some, like the Hotel Wales in New York, are located in residential neighborhoods where we can assure business guests a safer and quieter experience than they may be able to get at a more hectic midtown location."
Under Prevette and executive vice president Carlos Lopes, Olympus intends to expand all four brands, both in the United States and internationally. "For the Unique brand, we believe there are opportunities to take existing urban properties and convert them, instilling our own standards of service and stylish design," he said.
Similarly, Olympus foresees franchising opportunities for the Park Plaza and Park Inns units throughout Asia, as the local economies continue to strengthen. "We also see opportunities in Europe," Prevette said, citing a Park Plaza that recently launched in Budapest.
"As we build these Olympus brands, we know the importance of repeat business," Prevette said, "so we expect to introduce club-type programs in the foreseeable future that include special privileges for frequent guests."
Funding for Scottsdale, Ariz.-based Olympus comes from the Olympus Real Estate Corp., which is based in Dallas and New York.