Sunburst Hospitality

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Corporate Profile

Sunburst is an owner/operator of hotels nationwide, a championship golf course and manages a portfolio of self-storage facilities and apartment complexes. The Company operates in 17 states with annual revenues in excess of $100 million.  Sunburst is also a developer of residential real estate with projects in Virginia and Arkansas.  Sunburst's hotels are branded as Comfort Inns and Suites, Holiday Inn Express, Crowne Plaza, Quality Inn, Clarion, Sleep Inn, Best Western, AmeriHost, and Baymont Inn.

Kevin Hanley, President and CEO, has been the force in the Company’s growth and diversification activities since joining the firm in 1994.  Previously serving as head of Acquisitions and Development, as well as Chief Operating Officer, Kevin Hanley was appointed CEO in 2007.

Sunburst recognizes that its best investments are those that it makes in its people. The Company is a recognized industry leader in developing and implementing best practices in the human resources area. Innovative compensation and benefit programs are in place at all levels of the Company.

Sunburst remains committed to developing and successfully implementing strategies to maximize the value of its assets. Mr. Hanley and the executive management team have a successful record of managing ahead of industry cycles. Prior to the industry downturn in the late 1980s, the Company was able to liquidate a substantial portion of its existing hotel portfolio. The Company capitalized on the distressed real estate and capital markets in the early 1990s by opportunistically acquiring hotels at significant discounts to replacement cost. In 1995, the Company responded to changing industry cycles by shifting its growth strategy to construction of mid-market, limited service and extended stay hotels.  Sunburst is actively seeking to grow its hotel business through the acquisition of 100-300 room hotels which allow the Company to add value through its resources and expertise.

On January 4, 2001, the shareholders approved a management buyout of the Company. Sunburst is now controlled by Stewart Bainum, Jr., Kevin Hanley, certain members of the management team and certain other members of the Bainum family. Since that time, the Company has opportunistically sold a number of hotels, reduced debt incurred in the buyout and diversified into new businesses.

In January 2006, affiliates of the Company acquired substantially all of the assets of Chicago based Arlington Hospitality, which included ownership interests in 16 hotels.

In July 2006, Sunburst commenced construction of The Vista on Courthouse, a $100 million 252 urban residential complex in Arlington, VA., scheduled for completion in 2008. (www.VistaOnCourthouse.com)

In August 2006, the Company announced the formation of Colesville Partners Real Estate LLC.  As the managing member, Sunburst will manage Colesville Partners’ commitment of $300 million in equity acquiring value added real estate assets or operating companies in varied sectors. (www.colesvillepartners.com)

In January 2007, the Company acquired a 110-room beachfront hotel in Ocean City, MD.  Plans include a repositioning/renovation to capture upside from this well located long-term asset.

In March 2007, Sunburst completed an $18 million redevelopment of its Arlington, VA hotel.  Now operating as a high-end, extended stay hotel, it is the Arlington Residence Court, A Clarion Collection Hotel.

Sunburst remains committed to developing opportunities for the career advancement of its associates while maximizing the value of assets in its portfolio and leveraging its management infrastructure.

 


Sunburst Hospitality