Concord Hospitality Doubles Florida Portfolio With Addition of Three Tampa-Area Hotels

TAMPA, Fla./RALEIGH, N.C., September 24, 2012—Concord Hospitality Enterprises, one of the nation’s top-ranked hotel developer/owner/operators, today announced that it has taken over management of a three-hotel portfolio in Tampa, Fla., recently acquired by MIG Real Estate, a leading owner of commercial real estate. The hotels include the 100-room Residence Inn Tampa Suncoast Parkway at North Pointe Village, the 99-room Courtyard Tampa Oldsmar and the 78-room Residence Inn Tampa Oldsmar.
“We are pleased to once again engage Concord to manage properties for us,” said Greg Merage, CEO of MIG Real Estate. “Concord has proven itself to be an exceptional operator at our hotels in Phoenix and Edmonton, handling all aspects of the operations and improving performance. We look forward to furthering our relationship at these three Tampa properties.”
Concord owns and/or operates more than 60 Marriott-branded hotels nationwide across the US and Canada.
“MIG has an eye for sourcing quality assets in desirable markets,” said Mark Laport, CEO of Concord. “Tampa has year-round demand generators that make it a compelling market for us, and these hotels compete very effectively in their submarkets. We welcome the opportunity to expand our presence in the Tampa Bay area and appreciate MIG’s recognition that we already are there.”
Located at 2102 Northpointe Parkway in Lutz, Fla., The Residence Inn Tampa Suncoast Parkway is just minutes from Tampa, Clearwater and St. Petersburg, with easy access to area businesses, including Land O’Lakes and the Tampa International Airport. A designated Florida “Green Lodging Hotel,” the Residence Inn Tampa Suncoast offers a 24-hour fitness center overlooking the patio, fire pit and heated pool, as well as a sports court and 2,600 square feet of meeting space.
The Courtyard Tampa Oldsmar is located at 4014 Tampa Rd. in Oldsmar, equidistant between the Tampa and Clearwater/St. Petersburg airports at the top of Tampa Bay. The hotel is close to Tampa Bay Downs, the Ed Radice Sports Complex, Raymond James Stadium, and many of the other attractions that bring vacationers to Tampa, including the Tampa and Clearwater beaches. The hotel makes exploration easy with a complimentary shuttle servicing a three mile radius.
The Residence Inn Tampa Oldsmar lies adjacent to the Courtyard Tampa Oldsmar at 4012 Tampa Rd. Guests appreciate the hotel’s close proximity to Adventure Island Water Park, Busch Gardens and numerous golf courses. Consistent with the Residence Inn brand of hospitality, the hotel offers a complimentary, hot breakfast daily and regularly-scheduled managers receptions most evenings.

About MIG Real Estate
MIG Real Estate owns and operates a diverse portfolio of assets in Phoenix, Las Vegas, Denver, Seattle, Tampa, Hawaii, Edmonton, Jackson, WY, and in multiple markets in California and Texas. The company is currently engaged in an aggressive expansion strategy, seeking value added and opportunistic investment opportunities in select-service hotels, grocery-anchored shopping centers, office, industrial and multi-family properties. MIG Real Estate has acquired nearly 5 million square feet totaling more than $650 million of assets since April 2009. Additional information is available at http://www.migcap.com/RealEstate/.
About Concord Hospitality
Concord Hospitality Enterprises Company, an award-winning hotel management and development company based in Raleigh, N.C., manages over 85 hotels offering more than 11,500 guest rooms in 22 states and two Canadian provinces. The company operates hotels and resorts under such well-known industry elite brands as Marriott, Hilton, Hyatt, Starwood, and Choice Hotels, as well as select independent boutique hotels. Formed in 1985, Concord recently was listed as one of the nation’s top management companies in the nation by independent sources, and recently won Marriott’s elite Partnership Circle award for the eighth time. Concord properties are some of the most awarded hotels in the country, having won nearly 100 top honors in the past two years alone. For more information, visit www.concordhotels.com.