VIKING HOSPITALITY FUND TO BUILD
119-ROOM SPRINGHILL SUITES BY MARRIOTT IN BATON ROUGE
The 119-room hotel is the
first for Viking Hospitality Fund
DALLAS, May 8, 2008 – Viking
Hospitality Fund has announced the development of a 119-room
SpringHill Suites by Marriott in Baton Rouge, Louisiana. The
property is the first for Viking Hospitality Fund, which was formed
in September 2007 by Dallas-based Prism Hotels & Resorts, Cambridge,
Wisconsin-based Telemark Hotel Developers, and Atlanta-based Hotel
Assets Group (“Hotel AG”) as a joint venture to build new select-
and limited-service hotel properties nationwide under the Hilton and
Marriott brands.
The hotel will be built at 7980 Howell
Boulevard, near Baton Rouge Metropolitan Airport. Once completed in
early 2009, it will be managed by Prism Hotels & Resorts.
“This hotel is the first in a series of
select-service hotel developments from Viking,” said Al Whitehouse,
senior vice president of acquisitions at Prism Hotels & Resorts.
“We are actively seeking additional sites for development throughout
the country and plan to construct as many as 30 new hotels
nationwide over the next three years at a rate of 8-10 each year.”
SpringHill Suites by Marriott is a
moderately priced, all-suite lodging brand with guest suites up to
25 percent larger than traditional hotel rooms. Launched in 1998,
SpringHill Suites by Marriott has 177 locations worldwide.
About Viking Hospitality Fund
Viking Hospitality Fund, LLC, is a joint
venture that builds new select- and limited-service hotel properties
across the United States under the Hilton and Marriott brands.
Viking Hospitality Fund consists of Hotel AG as the broker of the
real estate transactions; Telemark as the developer of the
properties; and Prism Hotels & Resorts, which currently manages more
than 5,000 rooms in the United States and the Caribbean, as the
manager of the properties once they’re completed.
