Oct 29 2009
New York based United Capital Corp. has announced that the Doubletree Miami Mart Airport Hotel and Exhibition Center has already started a major renovation program, following the property’s acquisition by the firm over the summer. United Capital Corp. took possession of the 334-room landmark hotel and adjoining Exhibition Center in August and immediately began a $10,000,000 renovation program.
This acquisition is the fourth hotel in the portfolio of the diverse manufacturing, real estate, and hospitality company. The company already owns and operates hotels in Utica, NY, Hartford, CT, and Atlanta, GA. A.F. Petrocelli, Chairman and CEO of United Capital, stated, “This hotel/exhibition center is a tremendous addition to our portfolio. It fits our plans for growth in major markets, with an exceptional location, and the ability to serve many market segments.”
This is the second Doubletree Hotel owned and managed by United Capital. “We are very pleased to expand our relationship with the Hilton Corporation and the Doubletree brand,” added Stephen Kronick, Vice President/Hotel Operations for United Capital. The senior level team of United Capital Corp. has substantial experience in hospitality. Mr. Petrocelli is the former Chairman, CEO and President of Prime Hospitality, Inc., and Mr. Kronick was Senior VP/Operations at Prime.
The 334-room hotel has over 156,000 square feet of meeting room, ballroom, and convention space, making it the third largest event host property in South Florida. It is also attached to the world-famous Miami International Merchandise Mart, well-known for its fashion-focused retail stores, events and trade shows. The property will be undergoing renovation of guest rooms and corridors, lobby and all public space, meeting facilities, restaurant and lounge, and convention space as part of the change of ownership and management.
Source: http://www.unitedcapitalcorp.net/