“Candlewood Suites Hotels are designed for travelers’ extended-stay comfort and efficient business environments,” said AHDP President Clyde Harris, a resident of Hilton Head, during the ground breaking ceremony. “It is perfectly suited for visiting families and people looking at relocating in this area.”
“Candlewood Suites are focused on comfort, space and value,” Harris said. “We are excited to bring this industry-leading, state-of-the-art hotel brand to the Bluffton and Hilton Head area.”
Guest speakers at the Candlewood’s groundbreaking included Jerry Stewart, who represents Sun City Hilton Head on the Beaufort County Council.
AHDP is currently developing 15 hotels, including Columbia, Savannah, Tampa, Fla., and Hazleton, Pa. AHDP is partnering with New York-based real estate investment firm Glenmont Capital Management LLC for the development of several extended-stay hotels, including this Candlewood Suites.
Larry Kestin, managing principal of Glenmont Capital Management, said “We believe we have identified a growing segment of the hotel market where we can achieve extraordinary returns for our investors, and we have also ventured with a quality group in AHDP, the principals of which we believe are well positioned to take advantage of the opportunities in the market.”
Harris added that “the combination of the resources of American Hotel Development Partners and Glenmont Capital Management provides a significant capital base to fuel the continued growth of our venture.”
“Extended-stay markets in South Carolina, including Bluffton and Hilton Head, demand more rooms,” said Harris, who served as Director of Development for giant InterContinental Hotels Group where he was responsible for all corporate development activities. “Forty percent of the lodging industry’s customers want an extended-stay product, yet only six percent of lodging supply in the U.S. is extended-stay. We see a growing need, and we are working fast to enter the market and bring to bear high-quality properties.”
“South Carolina is one of the nation’s most popular states for visitors and new residents,” Harris said, pointing out that it is the 10th fastest growing state in the country. Additionally, state officials forecast that by 2030, 13,000 new hotel rooms will be needed to keep up with demand.
The hotel will be managed by Harris Hotel Group. “We are involved in the communities in which we build,” Harris remarked. “We seek to be good neighbors and a welcomed addition to each community.”
Rania Deimezi - Monday, January 28, 2008