Marshall Hotels & Resorts Launches 40th Anniversary Celebration
Marshall Hotels & Resorts, a leading hotel management and services company that operates properties nationwide, today announced that it is has begun a year-long celebration to commemorate its 40th anniversary. During those four decades, the company has successfully managed through multiple industry economic cycles, pivoting to meet the constantly changing demands of both seen and unseen events.
Mike joined the family business at age 15 and has been integrally involved since. What started as washing dishes and handling carpentry projects has since led him to lead one of the largest, most well-respected third-party hotel management companies in the industry.
"In the earliest days when the company was focused on purchasing and developing hotels, it was about helping my family and putting a few bucks in my own pocket while I was a teenager," Marshall noted. "And even though my mother initially counseled against me joining the family business, it has since become one of the true loves of my life. We succeed when our clients succeed, and I find that very fulfilling. As we look towards the future, I am delighted that some of my own children are starting their own careers here and cannot wait to see what they do moving forward."
Following its initial growth plan, the industry ran headlong into the S&L crisis, at which point the company pivoted to third-party management. Throughout the early 1990s, the company strengthened its footing in management. The late '90s was a boom period for hotel construction, and Marshall doubled its portfolio size during this time.
With the tech meltdown and accompanying recession of 2001, Marshall maintained its leadership position as a third-party management provider while adding more distressed assets to its portfolio. "With the majority of owners simply looking to staunch the recession's bleeding, we were able to step in and help owners stabilize, essentially helping in any manner we could," Marshall recalled. "The construction boom period of the mid-Aughts created more opportunities for our company, and we were able to help the overwhelming majority of our owners achieve high water marks in profitability."
The Great Recession of 2008 brought further turmoil to the industry. In 2009, the company rebranded from Marshall Management, Inc., to Marshall Hotels & Resorts, a move that better positioned the company as it continued to grow geographically and in size. Marshall took on more receivership properties as part of their expansion. As the economy eventually rebounded, Marshall found itself in a burgeoning world of online marketing and advertising that created further self-reflection as the company perfected these new marking vehicles, repositioning hotels and expanding digital footprints.
With the advent of its 40th year, Marshall has helped ownership navigate through the devastating pandemic to comparatively strong results. "Location has been a main driver of business lately, but having gone through multiple downturns in the past, we had the experience and know-how to take steps earlier and more decisively than many of our competitors, resulting in a larger share of business for our portfolio. I am most proud of the fact, however, that throughout these trying times, we have not laid off or furloughed one corporate employee. We're obviously heartened by the recent news of the multiple vaccines that look just about ready to go to market and believe a return to 'business as usual' is likely sometime in the latter half of 2021. It's been a fantastic ride so far, and I'm fascinated to see what tomorrow will bring."
Considering the pandemic, the company has opted to postpone any immediate celebration activities, instead focusing on business recovery and growth. "Health restrictions and common sense dictate that now is not an ideal time to get together to host, and we realize that monies can be better spent at the moment keeping our associates employed," Marshall said. "However, we are looking forward to an incredibly special event when the timing is right. You only turn 40 once, after all."
About Marshall Hotels & Resorts, Inc.
Salisbury, Md.-based Marshall Hotels & Resorts, Inc. has special expertise operating three- and four-star branded hotels and resorts, averaging 100 to 500 rooms, in urban and central business districts, as well as suburban/drive-to and resort locations. In addition, the company has a proven track record managing independent resort and unique urban properties. Marshall Hotels & Resorts has managed a wide array of leading hotel brands, including those under the Hilton, Marriott, Starwood, InterContinental Hotel Group, Hyatt, Carlson, Choice, Best Western and Wyndham flags. Additional information may be found at the company's Web site: www.marshallhotels.com.