WCG Hotels is in excellent financial shape, and we will continue as successful leaders in the hospitality industry, said Pat Nesbitt, Founder and CEO of WCG Hotels.
Santa Monica, CA (Vocus/PRWEB) March 17, 2011
WCG Hotels and Pat Nesbitt announced today that they successfully refinanced with Starwood Property Trust the mezzanine loan held by a rival hotelier.
“Starwood Property Trust truly understands hotel property value, and extended that knowledge to craft a perfectly tailored solution to address our various needs,” said Pat Nesbitt, Founder and CEO of WCG Hotels. “As I have said for weeks, I was confident that we would successfully refinance the loan and I appreciate the time Starwood Property Trust took to complete this complex refinancing.”
“WCG Hotels is in excellent financial shape, and we will continue as successful leaders in the
hospitality industry,” he said. “It is because of that strength that we were able to work with Starwood Property Trust and leverage their unique knowledge to refinance the loan, which had been recently purchased by our competitor with the sole intent to acquire the desirable properties owned by WCG Hotels.”
“WCG Hotels, and its hotel management company Windsor Management Services, have been proud stewards of the nearly 30 properties we own or manage on behalf of owners,” Nesbitt continued. “We will continue, as we have for 30 years, to provide our guests and owners with unbeatable service and responsible fiscal management.”
WCG Hotels is the largest private owner of Embassy Suites hotels and is approved to manage full-service Hilton and Marriott hotels to complement its extensive experience in operating independent boutique hotels, full service IHG and Starwood properties.
ABOUT WINDSOR MANAGEMENT SERVICES
Windsor Management Services, a subsidiary of WCG Hotels, is an award winning, comprehensive hospitality management and development organization that manages full-service, upscale hotel properties throughout the United States. With more than 30 years of experience to call on, Windsor Management Services is known for unmatched results for its owners and unparalleled service for its guests delivered with a personal connection.
For more information visit windsormanagementservices.com or wcghotels.com. Additionally, please contact Bill Upshaw, President & Chief Operating Officer or Craig Stechman, Senior Vice President-Sales & Marketing at 310-566-1100.
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