Urgo Hotels

Urgo Hotels
Table of Contents
Sections
Executive Summary
Operations
Asset Management
Investment and Development
Project Management
Historical Experience & Case Studies
Urgo Hotels Team Biographies
References
Contact Information
2
Executive Summary
Palm Beach Marriott Singer Island Beach Resort and Spa
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Executive Summary
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Urgo Hotels develops, owns, operates and asset manages hotels
Members of our senior management team and our Chairman have founded, grown and
managed hospitality companies, and have extensive experience acquiring, financing,
developing, redeveloping, repositioning, operating, asset managing and selling hotel
properties. Our senior management team and our Chairman have an average of 20 years of
experience in the lodging industry
Portfolio of 26 hotels today with approximately 3,789 rooms
– In 2009, RevPAR exceeded the RevPAR of the competitive properties in their respective
markets by an average of 39%
Assets sales of approximately $325M have resulted in an IRR of 40% with an equity multiple
well in excess of 10:1.
Manage over $125 million of annual revenue
Recognized as one of the top 100 hotel developers by Hotel Business Magazine and by the
Marriott and Hilton franchise communities as one of the top performing hotel operators
Long-term well established relationships with brands, lenders, brokers and investors
including GE Capital, Wells Fargo, Royal Bank of Canada, Marathon Fund, Marriott, and
Hilton
Courtyard St. John’s, NF
SpringHill Suites Old Montreal
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Operations
Long Island Marriott Hotel and Conference Center
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Operations – Urgo Hotels
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Has achieved outstanding operating results for hotel properties under management and
provides comprehensive hospitality services for a diverse portfolio that includes midscale,
upscale, upper upscale and luxury properties
Has received multiple industry awards including The Marriott Partnership Circle Award, Jim
Conley Award, Hotel of the Year, Chairman’s Award, Development of the Year, Best Opening
Award, 2 Diamond Hotels, Platinum Hotel, Gold Hotel, six Highest Guest Satisfaction Scores
in different categories, Service Excellence award, Sales Team of the Year, Revenue
Management Team of the Year, GM of the Year, Sales Leader of the Year and Highest RevPAR
Properties perform at the top of their respective competitive set; for example:
– The Montreal Airport Courtyard by Marriott achieved the number one ranking in Guest
Satisfaction in the Courtyard system, taking the number one spot from our Quebec City
Courtyard, which at the end of 2006 was number one in Guest Satisfaction in the entire
Marriott hotel chain
– The Stamford, CT Courtyard has achieved an annual RevPAR penetration index of over
200% against a competitive set that includes full service hotels such as Marriott, Hyatt,
Westin, Hilton and consistently ranks in the top five hotels in Guest Satisfaction. The
hotel and its general manager have recently been awarded the Platinum GSS award as
well as Diamond General Manager of the year award
– Upon acquisition and takeover of management of the Washington, DC Hilton Garden
Inn, Urgo Hotels established a sales and marketing, revenue management and
operating plan that led to a 185% increase in NOI within two and a half years. The end
result was a sale price of approximately 2X the acquisition price and an equity multiple
of approximately 5X after two and half years of ownership
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Operations
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Urgo Hotels has created a proprietary revenue management system that allows us to
maximize room night capture. We believe in today's market that an aggressive,
proactive revenue management program is critical to perform at the highest level.
Urgo has a heavy emphasis on direct sales
Urgo has an in house quality assurance program
– Above and beyond brand standards
– Surprise inspections in addition to regularly scheduled brand inspections.
Key personnel at hotels are compensated based on a balanced scorecard
– GSS scores
– RevPar Index
– Quality Assurance inspection scores
– Associate satisfaction scores
– Achieving desired levels of GOP margin
Urgo has a heavy emphasis on operational and sales and marketing training programs
– Brand training programs
– Urgo Hotels in house training programs
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Revenue Management
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Our revenue management department will research and analyze every aspect of hotel
operations in order to determine the most profitable way of reaching optimal revenue goals.
This includes focusing on the following:
– Market Trends And Price Analysis - we will determine demand trends and pricing
modifications that result in achieving maximum room revenue using sophisticated
reporting tools.
– Market / Business Mix - Understanding and recognizing the need to establish an
accurate mix of business in any market is the key to optimizing a hotel’s revenue
potential. Our team of experts will determine the most efficient and profitable
business mix for each hotel.
– Pricing Strategy/Optimization – using our successful restriction strategies and our
comprehensive knowledge in pricing, we will identify pricing and revenue
opportunities that will allow for greater flow through and maximum profitability.
– E-Commerce Visibility/Strategy and Positioning plan will maximize exposure. We will
establish solid long term relationships with numerous market managers. We will
develop and enhance marketing strategies, marketing packages, and promotions for
specific target markets.
– We will leverage Urgo Hotels’ existing relationships with travel agents to maximize
demand capture in the GDS arena (Global Distribution Services).
With all of the above being supported by extensive research and analysis and high -level
reporting tools plus a combined experience of more than 30 years in revenue management,
sales and marketing, operations and hotel development, your hotel is just a step away from
reaching it’s maximum revenue potential.
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Brand Approved Operators
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Industry Awards
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Industry Awards presented to Urgo Hotels:
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2009 Top 50 Hoteliers in Canada
Who’s Who: Owners and Developers 2009
2009 Top U.S. Hotel Companies
2009 Top 100 Owners and Developers
2008 Top Hotel Multi-Unit Owners & Developers
2008 Top Hotel Companies
2008 Top Third-Party Management Companies
2007 Top Hotel Company
2007 Top Hotel Multi-Unit Owners and Developers
2006 Top 100 Owners and Developers
2005 Top 100 Owners and Developers
2003 Top 100 Owners and Developers
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Industry Awards
Marriott International Awards and Recognitions
Marriott International Awards and Recognitions
2009 Marriott Owners Conference
* Partnership Circle Award – Urgo Hotels, L.P.
* Regional Extended Stay Sales Team of the Year
2007 Marriott National Conferences
* Courtyard Hotel of the Year – Quebec City Courtyard
* Opening Hotel (CY) General Manager of the Year –
Mirella Alfiero
* Diamond Hotel – Quebec City Courtyard
* Diamond Hotel – Stamford Downtown Courtyard
* Platinum Hotel – Montreal Airport Courtyard
* Jim Conley Award – Collin Urgo
* Gold Hotel – St. John’s Courtyard
* GSS Gold – West Orange Residence Inn
* GSS Silver – Montreal Airport Residence Inn
* Highest GSS Room Cleanliness – Quebec City Courtyard
* Highest GSS Room Cleanliness – Montreal Airport
Courtyard
* Highest GSS Staff Service – Quebec City Courtyard
* Highest GSS Staff Service – Stamford Downtown
Courtyard
* Highest GSS Overall Maintenance & Upkeep – Montreal
Airport Courtyard
* GSS Loyalty Builder – Syosset Fairfield Inn
2009 Marriott National Conferences
*Conference was cancelled due to the economic
climate
2008 Marriott National Conferences
* Chairman’s Award, Highest GSS Overall
Satisfaction – Quebec City Courtyard
* Diamond Circle – Montreal Airport Courtyard
* Diamond Circle – Quebec City Courtyard
* Diamond General Manager – Jason Trottier,
Quebec City Courtyard
* Gold Hotel – St John’s Newfoundland Courtyard
* Gold Hotel – Stamford Downtown Courtyard
* Silver Hotel – Long Island/MacArthur Airport
Courtyard
* Silver Hotel – Montreal Airport Residence Inn
* Silver Hotel – West Orange Residence Inn
2007 Marriott Owners Conferences
* Service Excellence Award – Courtyard Brand
* Best Opening Award 2007 – Montreal Airport Courtyard
11
Asset Management
Ritz Carlton Hotel White Plains, New York
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Asset Management
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Focus on performance of the property
Monthly review of P&Ls and brand reports to evaluate opportunities for
improvement as well as continued performance
Analysis of revenue management program
Evaluate sales and marketing team and program at the property
Analysis of management and associated staffing model
Ritz-Carlton White Plains, NY
Ritz-Carlton Fort Lauderdale, FL
Kimberly Hotel, NY
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Investment & Development
Hilton Garden Inn Washington, DC
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Investment & Development
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Successful seasoned investment team with extensive experience in deal sourcing,
underwriting, due diligence, financing, operations, feasibility, development,
construction, rebranding, repositioning and dispositions
Maintains stringent underwriting standards and conservative assumptions based on
extensive market experience and research
A demonstrated ability to gauge the optimum time to buy and sell assets and maximize
investment returns
Well established experience negotiating franchise agreements with major hotel brand
companies to achieve optimal results for the property owner
Residence Inn
Baltimore, MD
Hilton Garden Inn Washington, D.C.
Residence Inn, Montreal, Canada
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Investment & Development – Deal Sourcing
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The extensive reliable network of industry contacts developed throughout the 30 year
career of our CEO as well as the careers of the senior management team
Utilize strong existing relationships with franchisors, financial institutions, individuals
and lenders
Expand our existing network of brokers nationwide and focus on our existing personal
relationships that allow us to underwrite deals before they go to market
Direct communication with owners, lenders and franchisors of Target Hotels
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Acquisition team determines key markets to target, makes “on the ground” visits and creates
an in-depth database of all Target Hotels within selected markets
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Investment & Development
Underwriting
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Historical performance
Projected cash flows
Existing Brand and Brand availability
Market dynamics and supply and
demand
Condition of the asset
Brand Property Improvement Plan
requirements
Potential debt financing alternatives
(assumable or new loan)
Deal Process
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Acquisition team sources transaction
Pre underwriting process
– Perform initial due diligence and
underwriting
Review by senior management
Prepare term sheet
Begin full underwriting
Complete due diligence
Submit for investment committee
approval
Complete all relevant agreements
including purchase and sale
agreement
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Project Management
Courtyard by Marriott Stamford, CT
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Project Management
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Construction, planning, architecture, design, entitlement and development expertise
Team members oversee each project from conception through completion
In-depth experience in repositioning, rebranding and redeveloping assets
A demonstrated record of achieving value creation throughout the contractor
selection, design, construction and implementation process
Long-term established relationships with the architecture and construction divisions of
key franchise companies and understands well how to work within their various brand
requirements
Hilton Garden Inn & Homewood Suites Rockville, MD
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Portfolio Overview
Current Portfolio
Hotel
Ocean Point Beach Resort
Hampton Inn & Suites Inner Harbour
Double Tree Columbia
Wyndham Pittsburgh (Conversion to a Hilton Garden Inn)
Double Tree Carson
Fairfield Inn Washington, DC
Palm Beach Marriott Singer Island Beach Resort & Spa
Hilton Garden Inn Washington DC
Hilton Garden Inn Burlington
Hampton Inn Garden City
Homewood Suites Mont Tremblant
Residence Inn Inner Harbour
Residence Inn West Orange
Courtyard Ronkonkoma Long Island
Courtyard Stamford
Fairfield Inn Syosset
Residence Inn Mont Tremblant
Residence Inn Montreal Airport
Courtyard Montreal Airport
Courtyard Quebec City
Courtyard St. Johns
Springhill Suites Old Montreal
Cocodimama Resort
Homewood Suites Rockville
Hilton Garden Inn Rockville
Residence Inn Bethesda
Total
Location
Pompano Beach, FL
Baltimore, MD
Columbia, MD
Pittsburgh, PA
Carson, CA
Washington, DC
Palm Beach, FL
Washington, DC
Burlington, MA
Garden City, NY
Mont Tremblant, Canada
Baltimore, MD
West Orange, NJ
Ronkonkoma, NY
Stamford, CT
Syosset, NY
Mont Tremblant, Canada
Montreal, Canada
Montreal, Canada
Quebec City, Canada
St Johns, Canada
Montreal, Canada
Eleuthera, Bahamas
Rockville, MD
Rockville, MD
Bethesda, MD
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Meeting Space
1,191
15,312
6,236
5,674
3,000
3,837
4,200
900
440
1,536
1,190
6,390
877
752
1,364
5,607
5,607
1,380
1,680
2,000
0
2,919
2,919
5,399
80,410
F&B
US Steak House
Morgan's Restaurant
Terranova Bar & Grill
Scoreboard Bar, Bamboo Grill
Solu, Lagoon Grill, The Reef
Grist Mill
Great American Grille
17 Light St
The Lounge
The Bistro
R Bar
Caseys
Orville Restaurant, The Lounge
Orville Restaurant, The Lounge
Que Sera Sera
Smitty's Restaurant & Bar
Le Saint-Gabriel
Coco di Mama
Great American Grille
Great American Grille
Rooms Management Conversion
100
x
x
116
x
152
x
x
198
x
x
224
x
198
x
x
239
x
x
300
x
179
x
143
x
98
x
x
188
x
128
x
154
x
115
x
82
x
124
x
169
x
160
x
111
x
x
89
x
124
x
12
x
87
x
112
x
187
x
3,789
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Portfolio Overview
Current Portfolio - Asset Management
Hotel
Location
The Kimberly Hotel
New York, NY
Ritz-Carlton White Plains
White Plains, NY
9,250
Ritz-Carlton Fort Lauderdale
Total
Fort Lauderdale, FL
3
24,000
33,996
Hotel
Residence Inn New Rochelle
Residence Inn Plainview
Residence Inn White Plains
Best Western Key Bridge
Marriott Long Island
Hilton
Holiday Inn JFK (former Hilton)
Hilton (former Sheraton)
Hilton
Sheraton
Doubletree Park Terrace
Holiday Inn (former Sheraton)
Sheraton
Holiday Inn (former Sheraton)
Holiday Inn (former Sheraton)
Location
New Rochelle, NY
Plainview, NY
White Plains, NY
Rosslyn, VA
Uniondale, NY
Springfield, IL
Jamaica, NY
Mount Laurel, NJ
Wilmington, NC
Needham, MA
Washington, DC
Mansfield. MA
Portsmouth, NH
Andover, MA
Boxborough, MA
Asset
Management Conversion
Meeting Space
F&B
Rooms
746
Upstairs at the Kimberly
BLT Steak, Lobby Restaurant
and Lounge, 42 (Rooftop
Restaurant)
Via Luna, Lobby Lounge,
Poolside Café
188
x
146
x
192
526
x
Past Experience
Total
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Meeting Space
3,300
10,000
505
500
28,000
42,000
11,300
10,400
28,000
14,400
6,000
14,900
13,550
5,520
28,000
216,375
F&B
Rooms Management Conversion
124
x
Pete's Place and Baldino's
170
x
x
Aberdeen
134
x
x
178
x
Champions, Prime Seasons, Skylight Lounge
617
Bennigan's Tavern and Grill
360
x
Bistro Restaurant
320
x
The Haymarket
300
x
Ruth's Chris, Innovations, Riverside Café
272
x
Bullards and Trophies Sports Bar
247
x
15 Ria
220
x
Pikes Peak Mining Company
202
x
Harbor's Edge and River Watch Lounge200
x
Garden Court
188
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Minuteman Bar and Grill
143
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3,675
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Historical Experience & Case Studies
Residence Inn by Marriott West Orange, NJ
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Historical Experience
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Conversion of Luxury Collection to Marriott Resort and Spa (Palm Beach, Singer Island, FL)
In October, 2009 Urgo Hotels acquired WCI’s interest in the 239 unit Luxury Collection hotel in Palm BeachSinger Island, Florida. Upon closing, Urgo Hotels repositioned the hotel as a Marriott Resort and Spa. In 2010,
while the market is experiencing declining RevPAR growth, Urgo Hotels is on pace to grow RevPAR at the
Resort at an annual rate of 15% while decreasing operating expenses substantially.
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Conversion from a Red Roof Inn to Marriott Fairfield Inn & Suites
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In 2010, Urgo Hotels assisted RLJ Development in the successful repositioning and rebranding of a Red Roof
Inn to a Fairfield Inn & Suites by Marriott. This 198-room hotel is located in the heart of downtown
Washington, DC on H Street.
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The Park Terrace Hotel – Washington D.C.
In 1985, an affiliate of Urgo Hotels converted a Best Western located at Scott Circle in northwest Washington,
D.C. to a four star 220 room full service hotel known as the Doubletree Park Terrace Hotel. The ground floor
garage was converted to an elegant function room, the storage space to a fine dining award-winning
restaurant, the small lobby to a spacious two-story lobby bar and lounge. The roof top pool on the five-story
hotel wing was removed and 27 suites were added on three additional floors to match the eight-story
structure. The entire façade of the building was refaced using the addition of French balconies and decorative
eye brows as exterior features. All guest rooms were completely renovated with new all-marble bathrooms. A
circular drive and front Parisian style garden terrace provided the final touch to what became known as a
miracle on Rhode Island Avenue.
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Conversion of Property to Residence Inn by Marriott (Plainview, NY)
Originally built as a luxury senior citizens retirement home, this property had previously been converted to
the Green Briar Hotel and Conference Center. Urgo Hotels renovated the hotel according to Marriott’s PIP,
increased the keys from 147 to 170, restructured the debt for the ownership, and repositioned the hotel as a
Residence Inn by Marriott. In the very first year under Urgo Management the hotel achieved the highest
RevPAR in the Residence Inn system. For the next 20 years the Plainview Residence Inn continued to out
perform the entire Long Island market surpassing even the most important full service competitors.
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Historical Experience
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Conversion Two Properties to Residence Inn by Marriott (Bethesda, MD and Montreal)
Urgo Hotels converted the Guest Quarters Apartments in Bethesda, MD to a Residence Inn by Marriott, and
also converted Richelieu Towers Apartments in downtown Montreal to a Residence Inn by Marriott. Both
projects have been extraordinarily successful.
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Development of the Courtyard and Residence Inn at the Montreal Airport
Urgo Hotels developed a 329 room hotel Marriott hotel complex at the Montreal airport. Urgo Hotels is an
owner of the property and operates the property. Urgo developed the two hotels together sharing common
facilities including roughly 7,000 square feet of meeting space, back of house space, a pool, health club, and
other amenities. This development was the first of its kind for Marriott and won the best opening award from
Marriott. This Courtyard Hotel also achieved the highest guest satisfaction in the Courtyard system and
consistently achieves the highest RevPAR in the market which includes Marriott and Hilton full service hotels.
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Repositioning Americana Hotels Realty Corporation
Urgo Hotels was successful in repositioning and selling Americana Hotels Realty Corporation’s portfolio of
eight full service hotels including four full service Hiltons, in a short period of time, exceeding the
expectations of Americana.
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Blakeley Maddox Investments
Urgo Hotels assumed control and management of Blakeley Maddox Investments’ eight-hotel portfolio
including seven Sheratons, taking over the existing management entity overnight. After assuming
management, Urgo was successful in repositioning, renovating, and disposing of the hotels in under two
years, achieving exceptional results for the ownership in a brief period of time.
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Case Studies – Hilton Garden Inn Washington, D.C.
Investment Overview
Total Cost
Debt
Equity
$42.0m
$28.9m
$13.1m
Equity IRR
Equity Multiple
72%
4.92
Keys
Cost per Key
300
$140,000
Investment Date
Exit Date
Hold Period (Months)
2001
2004
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• Acquired a 300 room Hilton Garden Inn in downtown Washington, D.C.
•Increased NOI 185% from the time of purchase to sale
•Sold the asset for approximately 200% of the original purchase price
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Case Studies – Residence Inn Baltimore
Investment Overview
Total Cost
Debt
Equity
$31.0m
$20.7m
$10.3m
Equity IRR
Equity Multiple
40%
1.97
Keys
Cost per Key
190
$163,000
Investment Date
Exit Date
Hold Period (Months)
2004
2006
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•Developed a 188 key high rise Residence Inn by Marriott at the Inner Harbor in
Baltimore, MD
•Sold the hotel at completion to a unsolicited bidder
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Case Studies – Residence Inn White Plains, NY
Investment Overview
Total Cost
Debt
Equity
$10.0m
$2.1m
$7.9m
Equity IRR
Equity Multiple
35%
7.37
Keys
Cost per Key
135
$74,000
Investment Date
Exit Date
Hold Period (Months)
1997
2007
122
•Purchased an underperforming condominium building and converted it to a
Residence Inn by Marriott
•Achieved one of the highest RevPARs in the brand
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Case Studies – Residence Inn Montreal
Investment Overview
Total Cost
Debt
Equity
$24.8m
$15.8m
$9.0m
Equity IRR
Equity Multiple
54%
2.26
Keys
Cost per Key
190
$130,526
Investment Date
Exit Date
Hold Period (Months)
2004
2006
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•Purchased an apartment building in the center of downtown Montreal and
converted it to a Residence Inn by Marriott
•Sold the hotel upon stabilization (23 months after acquisition), achieving an IRR
of 54%
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Case Studies – Long Island Marriott
Investment Overview
Total Cost
Debt
Equity
$25.3m
$24.5m
$0.79m
Equity IRR
Equity Multiple
29%
193.77
Keys
Cost per Key
620
$40,800
Investment Date
Exit Date
Hold Period (Months)
1985
2009
288
•Developed a 620 room full-service Marriott Hotel with approximately 40,000 SF
of function space
•Purchased existing debt on the property at a discount
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Urgo Hotels Team Biographies
Courtyard by Marriott, Quebec City
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Team Biographies
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Urgo Hotels’ senior team members average over 20 years of professional experience in all aspects of the hospitality
industry. In addition to the development, acquisition, financing and operation of several hotels for Urgo Hotels,
members of senior management have encountered and resolved complex financing, investment, acquisition,
development and redevelopment issues relating to all hotel property types for several clients over the years
Donald J. Urgo, Sr. – President & CEO
Mr. Urgo received his undergraduate and law degrees from Fordham University in New York and began his law
practice in 1962 with the New York law firm of Hughes, Hubbard and Reed. He developed a specialty in
international business transactions with emphasis on the hotel and airlines industries. In 1972, Mr. Urgo was
retained by the Marriott Corporation to spearhead an effort to expand the Company’s operations throughout the
world. During the next 15 years, he was directly responsible for a number of key acquisitions and joint ventures
including the acquisition of the Sun Line Cruise Line; the acquisition of the Howard Johnson Company and
divestment of the Howard Johnson franchise group to Prime Motor Inns; and the development and acquisition of
numerous hotels and air catering facilities throughout the world. Mr. Urgo also played a key role in the conversion
of the Essex House Tower in New York and the Camelback Inn in Scottsdale, Arizona to condominium hotels. In
addition to his work for Marriott, Mr. Urgo has acted as counsel and advisor to a number of institutional,
development and operating clients including, among others, Howard Johnson, the Trammel Crow Organization, Ted
Lerner Enterprises, Americana Hotels and Realty Corporation, the Bank of New York, Riggs National Bank of
Washington, DC, the Travelers Insurance Company and Merrill Lynch. Throughout his career, Mr. Urgo has also
rendered professional services regarding hotel and other matters to a number of airline clients including TWA,
Northwest, Pan American, Aer Lingus, and BWIA. As an integral part of his comprehensive range of advisory and
investment services, Mr. Urgo co-founded a hotel management company whose primary role has been to manage
hotel assets for clients and investment partnerships in which he participates. While over the years Mr. Urgo has
maintained a close working relationship with Marriott that has enabled his firm to maximize the value of the
Marriott Hotels in which he is involved, he also has established solid relationships with executive management
throughout the hotel industry which enhance his ability to develop and operate additional brands when and where
appropriate.
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Team Biographies
Donald J. Urgo, Jr. – Principal/Senior Vice President, General Counsel
Don Urgo, Jr. received a B.B.S. in Finance from the University of Notre Dame followed by a law degree from the Columbia
School of Law, Catholic University of America in 1990. He spent six years in private practice as a litigation attorney pract icing
in the state and federal courts of Maryland and the District of Columbia. While concentrating in the areas of contract and
commercial law, torts and workers' compensation matters, Mr. Urgo’s clients included companies such as Bell
Atlantic/Verizon, Marriott International, Inc., Liberty Mutual Insurance Company and the Travelers Insurance Company. Mr.
Urgo left private practice to join Integrated Communications Corporation in 1996. A privately held firm headquartered in
Delray Beach, Florida, ICC is a communications marketing and management company that specializes in servicing the
hospitality industry and handles a wide array of communications services for more than 2,300 hotels and motels nationwide.
As General Counsel for ICC, Mr. Urgo handled all of the firm’s legal and regulatory affairs. He was directly responsible for
negotiating and handling the company's agreements with all of its current carriers, agents and customers, including contracts
with MCI Communications Corporation worth approximately $150 million in revenue. Since joining Urgo Hotels in 1998, Mr.
Urgo’s role has expanded from handling the day-to-day legal affairs of the organization to include active participation in the
company’s corporate and management activities. His legal background and entrepreneurial experience are a perfect
complement to the industry expertise of the firm’s other executive team members.
Kevin M. Urgo – Principal/Senior Vice President, Development and Finance
Since joining Urgo Hotels in August of 1998, Kevin Urgo has been actively involved in all aspects of the company’s
development and management activities. Mr. Urgo’s primary focus is the oversight of the company’s acquisition,
development, finance, investor and owner relations, strategic planning and corporate and project financing activities. Prior to
joining Urgo Hotels, Mr. Urgo was Vice President of Acquisitions and Development with Sunburst Hospitality Corporation, a
New York Stock Exchange company and a spin-off company of Choice Hotels International and Manor Care, Inc. While at
Sunburst Hospitality and its predecessors since 1995, Mr. Urgo was responsible for the company’s acquisition and
development activities in the Southeast and Mid-Atlantic regions, which included the active involvement and oversight of
more than 25 hotel acquisitions and development projects. Prior to joining Sunburst Hospitality, Mr. Urgo worked as a
consultant with Arthur Consulting Group International, acting as advisor to several institutional groups, various domestic an d
international governmental organizations and private developers including, among others, Hyatt Corporation, Choice Hotels
International, Industria Nacional Hotelera, the World Bank, Organization of American States, the City of Oakland, CA and the
City of Quincy, MA. While with Arthur Consulting Group, Mr. Urgo conducted hotel and restaurant market and feasibility
studies, appraisals and economic impact studies, as well as tourism area development studies and strategic planning
assignments. Prior to his tenure with Arthur Consulting Group International, Mr. Urgo worked for various financial
institutions.
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Team Biographies
Collin D. Urgo – Principal/Senior Vice President, Operations/Marketing
Collin Urgo began his career with Residence Inn by Marriott in 1990 as a member of the opening team at the
Plainview Residence Inn by Marriott, the first extended stay property ever to be converted by Residence Inn, or any
other major hotel chain. Since then he has been a member of, or managed, the conversion or opening of more
than 15 upscale extended stay, select service and focused service hotels for Marriott and Hilton. His experience
with Marriott began in housekeeping and took him through maintenance, meetings / banquets, food service, front
office and sales from 1990 to 1995. After serving as Business Travel Sales Manager on the opening team at the
Gaithersburg Washingtonian Center Marriott in 1992 and serving as a Regional Sales Manager for twenty-five
Courtyard and Fairfield Inn by Marriott hotels in Washington, DC, Maryland and Virginia from 2003 to 2005, he
joined Urgo Hotels to open the White Plains, New York Residence Inn by Marriott as Director of Sales. Collin
became the General Manager of the White Plains Residence Inn by Marriott in 1999. He was named General
Manager of the Year 2001 for Residence Inn by Marriott’s northeast region and the “Business Person of the Year
2001” for Westchester County, New York while holding that position until 2002, when he became V. P. Operations
for Urgo Hotels. He has spent the better part of his fifteen years in the industry representing high end branded
extended stay, select service and focused service hotels such as Residence Inn, Courtyard, Spring Hill Suites and
Fairfield Inn by Marriott and Homewood Suites and Hilton Garden Inn by Hilton. He is one of the most experienced
executives in the industry when it comes to positioning, marketing, selling and operating these atypical hotels.
Phil Daniel – Senior Vice President, Finance
Phil Daniel worked for Americana Hotels Corporation from 1973 to 1987, holding a variety of positions including
Vice President, Accounting; Director of Financial Services; Northeast Regional Controller, Property Controller, and
Assistant General Manager. From 1985 to 1987, Mr. Daniel assisted Americana Hotels Corporation, Americana
Hotels & Realty Corporation, and Bass Enterprises in Ft. Worth, Texas, with the sale and disposition of 36 Hotels,
Resorts and Inns. Since joining Urgo Hotels in 1987, Mr. Daniel has served as Corporate Controller and Chief
Financial Officer for 19 Hotels and several affiliates and partnerships. During that time, he continued to assist
Americana Hotels & Realty Corporation in Boston with the sale of its hotels and liquidation of its Real Estate
Investment Trust. Presently, Mr. Daniel supervises the operations of Urgo Hotels’ managed properties as well as the
financial and accounting administration.
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Team Biographies
Richard Riccio – Vice President, US Operations
Richard Riccio received a B.S. in Marketing and Finance form the University of Connecticut in 1989. He has been a
presence in the hotel industry since 1987. He started in the industry as a front line employee, a Bellman at the
Marriott Trumbull, CT. After joining Residence Inn by Marriott in 1990, he quickly became a General Manager
specializing in opening and ramping up hotels throughout the United States. In 1997, Richard was honoured as
Marriott's Opening General Manager of the Year. Richard has been a member of the Residence Inn by Marriott
System Standards Board since 1998. The Residence Inn System Board assists Marriott International in setting
guidelines and standards for the brand. Richard joined Urgo Hotels in October, of 2003 to head US Operations.
Richard continues to focus the portfolio of Marriot and Hilton products on three major themes: revenue
generation, exceptional service and return on owner investment.
Serge Primeau – Vice President, Canadian Operations
Serge Primeau has a degree in political science from the University of Ottawa. He has been in the hotel industry for
more than 15 years. His career started on the sales side as Account Executive, Director of Sales, and Director of
Sales & Marketing for Le Chantecler Resort and Conference Center over the course of 8 years. He was General
Manager of Hotel La Sapiniere, a well-known hotel recognized for its 4-Star service, outstanding dining and wine
cellar. He joined Urgo Hotels at the Marriott Residence Inn in Mont-Tremblant in 1997, acting as General Manager
while becoming Vice President of Canadian Operations for the company. He has been a board and executive
member of Quebec Resort and Country Inns for 3 years, founding member of the Laurentian Convention Bureau
and is President of The Maple Route Association (comprised of all Eastern Canada's key suppliers of tourism
products to the Japanese market). He is also a board member of the Tremblant Resort Association and is involved
in the marketing committee of the Tremblant Resort as well as many other sub-committees. He has a wide
knowledge of the national and international markets and has been involved in many tourism missions in Europe,
Japan and the United States along with Tourism Quebec and the Canadian Tourism Commission.
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Team Biographies
Robert Spence – Vice President, Quality Assurance and Construction
Robert Spence is presently responsible for Quality Assurance for Urgo Hotels. Robert’s primary focus is to ensure
that the high standard of Quality Assurance is consistent throughout the company’s properties. On a daily basis,
Robert focuses on the execution of new systems and standards within the hotels. Robert is also heavily involved
with new construction projects and property-specific major renovations. Robert’s corporate responsibilities include,
in part, training all Chief Engineers on fire protection and life safety systems within the hotels; understanding and
managing departmental budgets and inventories; facilitating communication inside and outside of the hotels; as
well as daily job duties and oversight. Robert brings over 25 years of engineering and general construction expertise
to Urgo Hotels. Having formerly served as Regional Director of Engineering for the company, he has mastered all
phases of mechanical equipment, including HVAC, electrical, plumbing, carpentry, painting and maintenance for
indoor and outdoor pools and spas. Robert’s overall expertise and command of the hospitality industry, as well as
his detailed working knowledge of Marriott and Urgo Hotels systems and procedures, continues to be a major
contribution to the current and future success of Urgo Hotels.
Ellen Wimsatt – Corporate Director of Human Resources
As Corporate Director of Human Resources for Urgo Hotels, Ms. Wimsatt works closely with general managers and
senior management on management recruiting, staffing, and career development issues. Her responsibilities also
cover overall human resources administration and employee relations. Prior to joining Urgo Hotels in July 2003,
Ms. Wimsatt spent 15 years with Marriott International. As Director of Employment and Director of Career
Development for the Residence Inn brand, Ms. Wimsatt managed all management staffing and succession planning
initiatives for the Regional Operations and Regional Sales teams. She created and facilitated training programs for
hotel general managers and sales directors at national conferences. She was the Residence Inn brand liaison on
many corporate-wide initiates (eg: Sales 2000; Marriott’s Career Management System; Cross Brand Training;
Marriott Lodging Relocation). Her experience with Marriott covers all brands, international and domestic hotels,
franchise relations, and corporate and executive staff. Ms. Wimsatt’s career began in Wichita, Kansas, where she
was part of the transition team when Marriott acquired the Residence Inn Company in 1987.
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Team Biographies
James Bowne – Corporate Controller
James Bowne received a B.S. in Accounting from Mt. St. Mary's University in 1979 followed by an M.B.A degree
from The Graduate School at Hood College in 1994. He began his career in the hospitality industry in 1977 with
Sheraton Inns holding a variety of positions progressing to Property Controller. Since then James has held positions
as In-charge Auditor, Manager of Accounting, Director of Accounting Services & Financial Reporting and Direktor
Buchhalter und Finanzen-Prokurist for such companies as Phillips-Van Heusen Corporation, Revlon, Inc., Manor
Care, Inc., Choice Hotels International, Inc., Quality Inns International (Deutschland) GmbH and more recently with
Urgo Hotels as Corporate Controller. James’s accounting career spans 33 years, of which 29 is related to the
hospitality industry in the area of financial reporting and compliance. He also has considerable experience in
system design, documentation and implementation. His current responsibilities in addition to financial reporting
include cash management, budgeting, financial analysis and employee development.
Adele Duba – Regional Controller
Adele worked for Marquis Hotels & Resorts, Inc., a Southwest Florida-based hotel management & development
company from 1974 to 1985; holding a variety of positions including Assistant Controller for South Seas Plantation
Resort; Controller for Sundial Beach & Tennis Resort; and Assistant Corporate Controller. From 1985 to 1987, Adele
worked for Americana Hotels Corporation in Fort Worth, Texas as Director of Property Accounting, and assisted with
the sale and disposition of 36 Hotels, Resorts and Inns. Since joining Urgo Hotels in 1987, Adele has served as
Corporate Internal Auditor; Vice President & Northeast Regional Controller in charge of the day to day accounting
operations of nine hotels in the greater Boston area; and assisted in the sale and disposition of the hotels for a
Boston-based investment group. Presently, Adele provides centralized accounting services for five Urgo-managed
hotels and the accounting and administration of an Urgo-managed Canadian partnership. Ms. Duba attended the
University of Southwest Florida, and holds a CHA designation from the American Hotel & Lodging Association.
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Team Biographies
Mark Roland – Regional Controller
Mark has an MBA from the University of Phoenix and is a Certified Hospitality Accountant Executive. He is a member of the
Institute of Management Accountants and former President for the Mid-Florida Chapter of Hospitality Finance and Technology
Professionals. Mark has worked as an Accountant in the hospitality industry for 20+ years. During his time in the industry he
has gained experience in both centralized and decentralized accounting environments. His property level experience includes
convention, business, airport, and resort hotels. Mark’s hospitality career started as a Night Auditor with the 814 room Walt
Disney World Hilton in 1986. After steadily progressing for 13 years with Hilton Hotels at both the property level and the
corporate office environments he moved on to Interstate Hotels as an Area Controller. At Interstate Hotels he directed the
operational accounting for 23 separate resorts consisting of 9 different franchise brands in 12 States. After Interstate Hote ls
merged with MeriStar Hotels back in 2003 Mark moved on to Starwood Hotels. During his next 5+ years at Starwood Hotels he
was a Regional Director of Finance where he directed the Accounting for 22 separate resorts consisting of 4 different franchi se
brands. While with Starwood he was also involved in the opening and acquisition of 10 resorts from Kauai, Hawaii to Cancun,
Mexico. Mark is currently working as the Director of Finance for Urgo Hotels at the 4 Diamond Palm Beach Marriott Resort on
Singer Island.
Jeff Segan – Regional Manager
Mr. Segan joined Urgo Hotels in November 2009, and currently manages the Palm Beach Marriott Singer Island Beach Resort
and Spa for the company. The 239-room luxury, beach front condo hotel includes four food and beverage outlets, a spa, and
4500 sq. ft. of meeting space. Prior to joining Urgo Hotels, Mr. Segan was GM of the Marriott Bay Point Golf Resort and Spa, a
356 room Marriott resort in Panama City, Florida. The hotel has over 40,000 sq. ft. of meeting space and reported $18M
annual revenues. Prior GM experience includes the Marriott Suites Clearwater Beach on Sand Key, a 220 all suite property
with $16M in annual revenues. Mr. Segan earned an Associates Degree at the Culinary Institute of America in NY, and began
his hospitality career in the food and beverage discipline. As Executive Chef with Columbia Sussex Hotel Corporation (19891991), he was responsible for menu design and implementation in 54 hotels. As Executive Chef with Winegardner &
Hammons, Inc. (1997-2005), Mr. Segan was responsible for training hotel Sous Chefs and AGMs in culinary operations, menu
implementation, and cost controls. He was awarded “Midwest Chef of the Year” by Marriott in 1999, as well as “Best Overall
Food & Beverage Operation – Midwest” in 1999 and 2000. His extensive food & beverage experience is only topped by his
passion for the discipline, and both have led to an impressive career as General Manager.
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Team Biographies
Scott M. Kneer – Regional Manager
Scott Kneer joined Urgo Hotels in 1999 as Assistant General Manager. In his impressive career with the company,
Mr. Kneer has directed the sales and operations efforts of our White Plains Residence Inn and our New Rochelle
Residence Inn, as well as directed sales and training efforts at other hotels in our portfolio. Mr. Kneer was
recognized by Marriott International in 2004 as “Direct Sales Leader of the Year”, and the hotels under his
leadership have consistently been recognized with ADR, OCC and Revpar awards from Marriott. Mr. Kneer began his
hospitality career in catering sales and conference services management, before joining Novotel as Front Office
Manager in 1994. His passion for training, sales, associate development, quality assurance, and his extensive
experience with Marriott branded hotels, has prepared Mr. Kneer Regional Manger.
John J. Rish – Regional Manager
John Rish joined Urgo Hotels in August 2004, as Assistant General Manager at our 300-room Hilton Garden Inn in
Washington DC. He was promoted to General Manager in 2005, and some of his accomplishments at this hotel
include managing a complete renovation of guest rooms and public space; revamping the food and beverage
programs to ensure quality service and profitability; and repositioning the hotel to dominate the market, resulting
in RevPAR indexes of over 130 as measured by Smith Travel Research. Mr. Rish led his team in achieving the “2008
Hotel of the Year” for Urgo Hotels. Mr. Rish has over 20 years of hospitality industry experience, with extensive
experience in operations, owner relations, budgeting and forecasting, and revenue management. His experience
with the Hilton and Sheraton brands, as well as independent full service hotels, has afforded him the title of
Regional Manager.
Larry Saward – Regional Vice President
Larry Saward is a senior executive with over 35 years experience in the marketing and operations of high profile,
multi-national luxury hotel chains. Mr. Saward started as a management trainee at the Westin Benson Hotel in
Portland, Oregon after graduating with a B.S. from Pacific University. He held a variety of positions within Starwood
Hotels (Westin, Sheraton, Le Meridien) including Resident Manager, General Manager, and Vice President
Operations. Having managed hotels in Singapore, Mexico, and Spain, Mr. Saward has a diverse and global
perspective. Prior to joining Urgo Hotels in 2010, Mr. Saward was National Hotel Operations Manager for American
Property Management Corp. where he provided oversight to a portfolio of hotels which included Hilton, Starwood,
Carlson and Independent properties.
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Team Biographies
Melissa Sibal – Director of Revenue Management
Melissa Sibal has a bachelor’s degree in Economics and has been working for Urgo Hotels since 2002. As a Director
of Revenue Management, she works closely with the Executive Leadership and property General Managers and
plays an integral role in stirring and coordinating revenue management efforts and best practices to increase hotels’
market share and deliver optimized revenue. Before joining Urgo Hotels, Melissa held a variety of revenue
management, operations and reservations positions at Interstate Hotels & Resort (formerly Meristar Hotels) and
Hilton Hotels Corp. She also has an extensive background in Property Development, Sales & Marketing and
Corporate Leasing.
Athena Aniceto – Corporate Revenue Manager
Athena Aniceto joined Urgo Hotels in 2006 from Classic Hospitality, Washington DC. Athena brings with her 10
years of reservation and revenue management experience and is responsible Revenue Management of the
company’s Hilton portfolio. During her tenure with Urgo, Athena has guided the portfolio to substantial increases
RevPAR highlighted by the Hilton Garden Inn Washington DC record breaking performance in 2009 leading all
Garden Inns system wide. Athena possess the necessary talent of rational logic for her roll but compliments her
recommendations with long term market positioning.
Mark Ginocchio – Project Manager
Mr. Ginocchio has over 20 years experience in architecture, design, and construction management. Early in his career his
portfolio grew with projects in India (planning a gated residential housing with retail, temple and service buildings), and Haiti
(planning and designing the city market and transit terminus in Port au Prince, Haiti). In 2005 Mr. Ginocchio was assigned
project director for the Marriott Cavendish Montreal, a 329 room Courtyard and Residence Inn hotel complex with a shared
conference center, which would lead to his relationship with Urgo Hotels. Over the last seven years, Mr. Ginocchio’s
experience includes design and construction of the Marriott Calgary Airport (329 rooms and conference center), the
Residence Inn Faubourg Boisbriand (125 suite hotel with restaurant), Homewood Suites Dorval (125 suite Hilton brand hotel),
and the Boca Raton Bridge Hotel (conversion of existing hotel to a 145 Courtyard by Marriott). Mr. Ginocchio earned his
Bachelor of Architecture from the University of Kentucky. He has received numerous honors and awards, including the “2004
Research Award”, presented by the Canadian International Development Agency, for his work on the patterns of growth and
living study on a community in Bogota, Columbia. He served as Adjunct Professor and Course Lecturer at McGill University, as
well as Field Lecturer in India, teaching traditional and contemporary architecture of Central India, sponsored through the
University of Kentucky. Mr. Ginocchio’s work has been published in Canada, India, Japan, and the United States.
39
References
40
References
Marriott International – Bob McCarthy
President - North American Lodging
Operations
& Global Brand Management
Phone: (301) 380-3000
RLJ Development – Tom Baltimore
President
Phone: (301) 896-0206
Marriott International – Tim Marvin
Senior Vice President, Development
Phone: (301) 380-2283
Cappelli Enterprises Inc – Louis Cappelli
President
Phone: (914) 769-6500
Marriott International – Liam Brown
Executive Vice President,
Development
Phone: (301) 380-3000
Inland America – Craig Lambert
Senior VP – Hotel Asset Management
Phone: (703) 980-2347
Hilton Hotels – Tom Lorenzo
Vice President, Managing Director
Phone: (203) 463-3407
GE Canada – Ed Khediguian
Senior Vice President
Phone: (514) 394-3201
RLJ Development – Ross Bierkan
Executive Vice President
Phone: (301) 280-7724
41
Contact Information
42
Contact Information
For further information please contact:
Phone: 240-482-1943
Mobile: 301-529-6083
Kevin.Urgo@urgohotels.com
Kevin M. Urgo
WWW.URGOHOTELS.COM
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