Case Studies

Case studies are described below, organized in the following categories (select to view):

Joint Venture Formation

Reposition Asset through Direct Operations

Long Term Asset Management

Development Services

Consulting and Due Diligence

Joint Venture Formation

Property: D/FW Hilton Lakes Hotel & Conference Center,
Grapevine, Texas, 400 Key, IACC Approved
Executive Conference Center located 2 miles from D/FW International Airport.

Services: Quorum sourced and underwrote the acquisition opportunity on behalf of an investment partnership consisting of a private real estate investment trust (REIT) and a limited liability company (LLC). Hotel was purchased from Hilton Corporation and is operated by Quorum under a long-term franchise agreement with Hilton. Recently completed a significant renovation. Since assuming management of DFW Hilton, RevPAR has increased 24%.

Property: Hilton Phoenix East, Mesa, Arizona

Services: Quorum was engaged by the lender in 1990 to take over management of this 260-key Hilton franchised property upon foreclosure. Quorum improved operations and formed an investment group to purchase the property in 1993. Quorum continues to operate this property and recently completed a $9M renovation. The Hilton Phoenix East consistently achieves over 100% of the RevPAR Index against the competitive set.

Other Properties Operated on behalf of this client:

• Embassy Suites Denver, Colorado 236 Keys
• Holiday Inn Boca Raton, Florida 184 Keys
• Holiday Inn Park Central, Orlando, Florida 344 Keys
• Holiday Inn Casper, Wyoming 200 Keys
• Holiday Inn Executive Center, Virginia Beach, Virginia 331 Keys

Reposition Asset through Direct Operations

Property: Quorum Hotel Tampa, Tampa, Florida (Former Crowne Plaza Westshore) 262-Key, AAA-4-Diamond hotel located within the Westshore area of Tampa, FL, near the Tampa Airport

Services: Quorum was engaged in 1994 to assume operation of this hotel on behalf of an investment partnership. After operating and improving operations under a Crown Plaza franchise for 10 years, Quorum converted the property to the Quorum Hotel Tampa in late 2004 upon the expiration of the Crowne Plaza franchise. In addition to the savings associated with removing Crowne Plaza, Quorum has met or exceeded all previous financial metrics achieved as a Crowne Plaza. Quorum has supervised multiple renovations of this property. RevPAR at the Quorum Hotel Tampa has increased 23% since 2005, advancing two ranks against the competitive set.

Property: Radisson Suites, Tucson, Arizona
300-key, AAA-4 Diamond all suite hotel located in Tucson, AZ

Services: Quorum was engaged by the lender when it foreclosed on the owner of the former Doubletree Suites. Quorum repositioned the hotel to a Radisson franchise (there were too many Doubletree products in the market) and supervised a $4M± renovation of the facility.

Other Properties Repositioned Thru Direct Operations:

• Brown Palace Hotel Denver, Colorado 240 Keys
• Denver Inn (now Comfort Inn), Colorado 230 Keys
• Hilton Lake Arrowhead Resort, California 281 Keys
• Holiday Inn Lawrence, Kansas 116 Keys
• Holiday Inn Manhattan, Kansas 192 Keys
• Hotel Plaza II Toronto, Canada 258 Keys
• Radisson Fort Worth, Texas 517 Keys
• Radisson Pan American Resort, North Miami, Florida 280 Keys
• Sheraton Galleria Houston, Texas 314 Keys
• Tremont Hotel Chicago, Illinois 130 Keys
• Whitehall Hotel Chicago, Illinois 221 Keys

Long Term Asset Management

Property: The Ritz-Carlton Hotel & Spa New Orleans

Services: Quorum was engaged in 2000 by the majority partner to replace the developer of this 3-hotel, $300 million, 800-key complex under construction in New Orleans, Louisiana. Quorum assumed the role of General Partner and supervised the completion of construction and the opening activities of the Ritz-Carlton Hotel Company. Since opening, Quorum has also served as the Asset Manager. In 2005, Quorum was tasked with the enormous rebuilding process in the aftermath of Hurricane Katrina and the coordination of ownership’s $110M insurance claim. The complex was successfully re-opened in December 2006. Quorum continues to asset manage the activities of Ritz-Carlton. 

Other Asset Managed Properties:

• Hyatt Charlotte, North Carolina 260 Keys
• Hyatt Fair Lakes, Virginia 280 Keys
• Hyatt Dulles, Dulles, Virginia 280 Keys
• Iberville Suites New Orleans, Louisiana 230 Keys
• Maison Orleans New Orleans, Louisiana 75 Keys
• Marriott City Center Charlotte, North Carolina 434 Keys
• Ritz-Carlton Coconut Grove, Florida 115 Keys
• Westin St. Louis, St. Louis, Missouri 262 Keys
• Westin Beechwood, Fort Worth, Texas 286 Keys

Properties: New Orleans, LA, Coconut Grove, FL, Los Angeles, CA

Services: Quorum has assisted numerous investors in the overall planning and designing of new hospitality projects. The company is currently assisting in the development of all hospitality elements contained within the LA LIVE project in downtown Los Angeles, CA. This will include a 54-story, 1,089 key, multi-branded, convention center operation containing both a JW Marriott and Ritz-Carlton hotel, as well as 200+ Ritz-Carlton Residences.

Quorum was engaged by the owner to design and coordinate a "Request for Proposal" process for this project that resulted in the receipt of aggressive branding/management bids by the four (4) major industry brands-Hilton, Hyatt, Marriott & Starwood. Quorum then assisted the owner through all phases of contract negotiations with the Marriott Hotel Corporation and continues to assist the developer in significant decisions relating to the hotel operations.

Quorum has also been engaged by investors to assume development responsibilities in projects involving the construction of other Ritz-Carlton projects as well as other internationally branded assets. In this role, Quorum represents the owner/developer in dealing with the chain operator so as to ensure a good balance between owner equity and brand equity issues.

Consulting and Due Diligence

Properties: Aston Waikiki Honolulu, Hawaii 644 Keys; Denver Marriott, Denver, Colorado 800 Keys; Courtyard Hotel Kauai, Hawaii 360 Keys

Services: Quorum has been engaged by numerous institutional clients over the years to assist in their underwriting of debt and/or equity investments in hospitality assets. Many global real estate funds utilize Quorum's services to provide them with an operator’s perspective as to the condition and market potential of various assets.

Other Notable Consulting & Due Diligence Assignments:

• Birmingham Marriott 300 Keys
• Blake Hotel, Charlotte, North Carolina 175 Keys
• Burlington Marriott, Burlington, Massachusetts 404 Keys
• Cincinnati Airport Marriott 300 Keys
• Cincinnati North Marriott 297 Keys
• Cincinnati Northeast Marriott 300 Keys
• Columbus Northwest Marriott 297 Keys
• DFW Marriott 300 Keys
• Eastland Park Hotel, Portland, Maine 202 Keys
• Embassy Suites, Alexandria, Virginia 298 Keys
• Essex House, New York, New York 515 Keys
• Grand Hyatt San Diego, California 1,625 Keys
• Grand Wailea, Maui, Hawaii 780 Keys
• Hartford Marriott 301 Keys
• Hilton Alexandria, Virginia 241 Keys
• LA Live Convention Center Hotel 1,089 Keys
• Rancho Bernardo Resort, California 288 Keys
• Savannah DeSoto Hilton, Savannah, Georgia 245 Keys
• Sheraton Grand, New Bern, North Carolina 350 Keys
• Sonesta Key Biscayne Resort, Miami, Florida 389 Keys
• Sonesta Boston, Massachusetts 400 Keys
• Stamford Marriott, Stamford, Connecticut 506 Keys
• Surf & Sand Resort, Laguna, California 164 Keys
• Westin Galleria, Dallas, Texas 432 Keys