MILWAUKEE | Marcus Hotels and Resorts, a division of The Marcus Corporation (NYSE:MCS), today announced the start of two previously announced renovation projects. Major renovations at the Hilton Milwaukee City Center in Milwaukee, Wis. and the Grand Geneva Resort & Spa in Lake Geneva, Wis. will begin immediately, with a substantial portion of the renovations completed by early summer. When the renovations are completed in full, the total cost for both projects is expected to be approximately $30 million.
“Maintaining our assets has always been a top priority for Marcus Hotels and Resorts,” said Bill Otto, president of Marcus Hotels and Resorts. “Despite lower occupancy due to the downturn in the travel industry, we are continuing to invest in enhancing and remodeling our existing properties so they will remain well-positioned for the future. By beginning these renovations immediately, we will be able to provide a significantly enhanced experience for our guests in time for our upcoming peak summer season,” said Otto.
Renovations at the Hilton Milwaukee City Center will begin with guestroom and lobby remodeling. Renovations to the hotel’s 730 guestrooms include High Definition LCD televisions, new bedding, carpeting, furniture and artwork. Other renovations will include new tile flooring and furnishings for the hotel’s elegant Fifth Street lobby level entrance.
Otto noted that the next phase of the project, expected to begin later in the year, will include upgrades to other areas of the hotel such as the meeting rooms, lobby areas, restaurants, gift shop and exterior elements of the historic property.
“At the Grand Geneva Resort & Spa, renovations on the exterior pool and WELL Spa are under way. In addition, all 355 guestrooms will receive new carpeting, drapery, bedding and furniture. Bathrooms, including 33 suite bathrooms, will be remodeled with new fixtures, vanities, marble flooring, lighting, wet bar renovations and chic mirrors with built-in TVs that disappear when turned off,” said Otto.
“Other renovations planned at the Grand Geneva Resort & Spa will include new artwork, lighting and additional furniture upgrades in all of the guestrooms, along with reconfigured bathrooms in the hotel’s 20 luxurious Newport Suites and Newport Executive Suites. We believe our guests will be very pleased with the new look and amenities in both of these exceptional properties,” added Otto.
About Marcus Hotels and Resorts | Marcus Hotels and Resorts, a division of The Marcus Corporation (NYSE:MCS), owns or manages 20 hotels, resorts and other properties in ten states, with three additional properties under development. A force in the hospitality industry, Marcus Hotels and Resorts provides expertise in management, development and historical renovations. The company’s portfolio includes a wide variety of properties including city-center meeting hotels, upscale resorts and branded first-class hotels. For more information visit: .
About The Marcus Corporation | Headquartered in Milwaukee, Wis., The Marcus Corporation is a leader in the lodging and entertainment industries. In addition to its Marcus Hotels and Resorts division, the company’s movie theatre division, Marcus Theatres®, currently owns or manages 675 screens at 55 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio, and one family entertainment center in Wisconsin. For more information, visit the company’s Web site at .
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we “believe,” “anticipate,” “expect” or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, and preopening and start-up costs due to the capital intensive nature of our businesses; (3) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (4) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (5) the effects on our occupancy and room rates from the relative industry supply of available rooms at comparable lodging facilities in our markets; (6) the effects of competitive conditions in our markets; (7) our ability to identify properties to acquire, develop and/or manage and continuing availability of funds for such development; and (8) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States, the United States’ responses thereto and subsequent hostilities. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.