Baymont's First California Property Set to Open in Ontario.Business Editors/Travel Writers ONTARIO, Calif.--(BUSINESS WIRE)--Aug. 26, 2003 The Golden State is opening for Baymont Inns & Suites, and the brand's California expansion is beginning in Ontario on Oct. 1, 2003. The middle market hotel chain has made a significant impact throughout the Midwest, Southeast and Southwest, and it now seeks new opportunities in the West. "We understand the importance of establishing a presence in California," said Jim Abrahamson, president of Baymont Inns & Suites. "We have chosen to begin that presence in the Gateway to Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. ." The Ontario property, adjacent to the Ontario Mills Ontario Mills is a large enclosed outlet mall located in Ontario, California; it is one of the primary tourist attractions in the Inland Empire. Mall, is part of Baymont's Strategic Market Partnership Development (SMPD SMPD Santa Monica Police Department (Santa Monica, California) SMPD Single Module Photo Detector SMPD Surface Missile Processing Description ) program. Under this program, Baymont enters into master development agreements with local developers to build Baymont Inns & Suites. In turn, Baymont provides half of the equity needed and manages the hotel once it is open. The four-story Baymont Inn & Suites Ontario will have 105 guestrooms, including 21 suites. It will have one large meeting room, a fitness center and an outdoor swimming pool. Baymont's partner is Lewis Wolff Lewis N. Wolff (commonly shortened to Lew) is an American real estate developer. Wolff is also known for owning sports franchises; he is currently the co-owner of the Oakland Athletics of Major League Baseball and the San Jose Earthquakes of Major League Soccer. , a California developer of high-end resorts. Partnership Commitment Lew Wolff said he decided to do a development in the middle market because of consumer demand for such an option in urban areas. "I chose Baymont because it's a product that will succeed here," Wolff said. "It's a brand with a strong management team that understands the hotel industry." He said ownership by The Marcus Corporation The Marcus Corporation (NYSE: MCS)is a publicly held company with two divisions, Marcus Theatres and Marcus Hotels and Resorts. Stephen H. Marcus, son of the company's founder, is chairman and chief executive officer. was an important selling point selling point n. An aspect of a product or service that is stressed in advertising or marketing. Noun 1. selling point - a characteristic of something that is up for sale that makes it attractive to potential customers , stating, "Marcus has an impeccable reputation." In addition to Ontario, Baymont has targeted several other strategic markets in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . Baymont is seeking locations in San Diego, Orange County, Anaheim, LAX Airport and Pasadena/Arcadia. Baymont is scheduled to open its downtown Chicago hotel, located off the city's Magnificent Mile, in the fall of 2004. "Baymont has proven itself to be a strong brand for developers and a popular brand for both business and leisure travelers," Abrahamson said. Abrahamson said the SMPD program was initiated because Baymont recognized the need for middle market alternatives in major metropolitan areas. "We want to increase the number of properties in the Baymont system and we see that goal can be accomplished in metro areas where travelers often desire middle-market accommodations instead of the traditional urban choices," Abrahamson said. About Baymont Inns & Suites Baymont Inns & Suites operates or franchises more than 180 locations in 31 states nationwide and is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of The Marcus Corporation (NYSE NYSE See: New York Stock Exchange : MCS). For more information on The Marcus Corporation, go to www.marcuscorp.com. For more information about Baymont Inns & Suites or to make a reservation, visit www.baymontinns.com or call 1-877-BAYMONT (1-877-229-6668). |
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