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SOURCE Briad Lodging Group
Robust pipeline includes 15 projects with Marriott and Hilton; Franchise Agreement for 116-room AC Hotel by Marriott in San Diego's Gas Lamp Quarter
LIVINGSTON, N.J., Jan. 21, 2014 /PRNewswire/ -- Briad Lodging Group finished off 2013 with the opening of two new hotel properties. However, that is just the beginning of the extensive growth planned over the next several years.
With one hotel under construction, a 131-room, Homewood Suites in Branchburg, NJ, and another, a Residence Inn in Central New Jersey, set for ground breaking in the next couple of month, Briad Lodging Group is poised for explosive growth.
The robust pipeline includes more than 15 projects with Marriott (Residence Inn, Courtyard, Towne Place Suites and AC Hotels) and Hilton (Homewood Suites), which are at various stages in the approval process. In addition, Briad Lodging Group recently signed a franchise agreement for a 116-room AC Hotel by Marriott in San Diego's Gas Lamp Quarter, slated to open by 2016.
Briad Lodging Group's growth plan is to develop, open and operate three to four hotels per year over the next several years.
"With a long track record in hotel development, ownership and management, we believe we have a competitive edge in the hotel real estate niche market. We will keep our focus on premium-branded hotels under such flags as Marriott and Hilton," said Brad Honigfeld, Chief Executive Officer of The Briad Group. "We'll continue to find great development opportunities in underserved markets. Having our own construction affiliate, we are able to build cost effectively and make difficult projects financially feasible."
Briad Lodging Group was formed in 1997, when Briad became a Marriott franchisee. Five years later, the company added Hilton to the portfolio. Since obtaining these franchise rights, Briad has developed more than $400 million in real estate, focusing on limited-service hotels, including the Courtyard, Residence Inn, Springhill Suites, Hilton Garden Inn and Homewood Suites brands. During the past decade, Briad has developed, operated and managed 26 properties and has built over 2,800 hotel rooms in the tri state area alone.
Recently opened Briad Lodging Group hotel portfolio
Under Construction and Ground Breaking Imminent
Under Contract, In Development with Franchise Agreement Signed
About The Briad Group:
The Briad Group®, headquartered in Livingston, NJ, is one of the fastest growing hospitality companies in the U.S. The Briad Group's® entities are: licensed franchisees for Wendy's, T.G.I. Fridays®, Marriott, Hilton and a licensee for Zinburger Wine & Burger Bar. The Briad Group® also owns and operates CUPS Frozen Yogurt - That's Hot™, a self-serve frozen yogurt concept that is poised for explosive growth.
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