Prime Hospitality Corp.
(NYSE: PDQ) has announced it has signed a management agreement with Elite
Properties LLC to assume operations of its Hilton Garden Inn/Nashville Airport
in Nashville, TN. The property is currently under construction and is
scheduled to open in March, 2001.
Under the five-year agreement, Prime will oversee all facets of day-to-day
hotel operations, including sales and marketing, human resources/staffing, and
accounting. The six-story, 110-unit property will be located at 412 Royal
Parkway. It will be accessible to major freeways and convenient to downtown
Nashville, the Grand Old Opry, Opryland, the Tennessee Titans Coliseum and
many office parks. The hotel will offer an indoor pool, meeting space for up
to 200 people, an exercise room, a business center, a lounge and restaurant
serving breakfast, lunch and dinner, and complimentary airport transportation.
Additionally, all guest rooms will feature high-speed Internet access.
“We are pleased to begin a relationship with Elite Properties,” noted
Prime`s Chairman and CEO A.F. Petrocelli. “We expect this will be a very
attractive property with great potential and we look forward to operating it
as effectively as possible.”
“Prime`s outstanding reputation and management expertise were major
factors in our selection process,” noted Ramesh Surati, President of Elite
Properties. “We expect this to be the beginning of a long and mutually
beneficial relationship between our companies.” Nashville, TN based Elite
Properties owns and operates several hotels in the Tennessee and Texas
markets. In addition to Mr. Surati, who is immediate past Chairman of the
Asian American Hotel Owners Association (AAHOA), other principals include Dan
Patel of Brentwood, TN, Subhodh Patel of Lubbock, TX and Mahesh Kisan of