Industry veterans launch Associated venture

18th Sep 2006

Combining more than 75 years of
expertise, lodging industry veterans Jay Fishman, Bryan Curry, and Gary
Wood have teamed up to form Associated Hotels.The new management
company will concentrate largely on third-party management contracts, as
well as select hotel acquisitions, and is a successor to Seymour N. Logan
Associates, Inc., a Chicago family-owned real estate and hotel company
dating back to 1942.
  The new company’s main objective is to own and operate top quality
hotels where it can increase and enhance value. Associated is targeting
branded and independent mid-priced to upper mid-priced properties in the
Midwest. These hotels generally have between 100 and 500 rooms and could
include food and beverage operations or be limited service.
  Associated plans to own and/or operate 15 to 20 hotels within the next
three years and to continue to offer its property owners personalized
service—with direct access to the company’s three principals. Associated
is looking to work with a variety of hotel owners—including individual
developers, venture capital firms, financial institutions, REITs, and
insurance companies.
  “We will work with owners who are committed to the quality and success
of their assets and can benefit from our expertise in enhancing the revenue
and overall performance of their properties,” says Associated President Jay
Fishman. “It is important that our owners know that they will be dealing
with an Associated principal at all times.”
  Associated currently operates six first-class hotels with a total of
1,920 rooms that generate $50 million in annual revenue. These properties
are the following: Holiday Inn Rolling Meadows (Ill.); Holiday Inn
Select-Minneapolis Airport; Holiday Inn Select-St. Louis; Holiday Inn
Select-Appleton, Wis.; Radisson Duluth (Minn.); and
  The principals of Associated Hotels have diverse backgrounds in just
about every aspect of hotel management.
  Jay Fishman has 22 years of experience in the hotel industry. Prior to
working with Seymour N. Logan Associates, the Chicago native was senior
vice president/ hotel investments at VMS Realty Partners for more than a
decade. His expertise includes the development and implementation of
workout strategies, hotel repositioning, negotiation and administration of
management and franchise agreements, and portfolio management.
  Bryan Curry has more than 20 years of financial experience. Prior to
being chief financial officer of Seymour N. Logan, he worked in public
accounting and specialized in hotel and real estate auditing and taxation.
  Gary Wood has more than 30 years of hospitality expertise, spent at
both the individual hotel and multi-unit levels. Before joining Associated,
Wood was most recently vice president of operations for Hostmark
Hospitality Group, where he worked for 13 years. He spent much of his
career with Holiday Inn Worldwide, where his experience included food and
beverage, sales and marketing, general management, and multi-unit


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