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Blue Sky Hospitality Solutions Acquires Two More Properties

Monday, June 24, 2019
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UNIONDALE, NY—Officials of Blue Sky Hospitality (BSHS), one of the leading and fastest growing hotel owner/operators in the United States, today announced that the company has acquired the 220-room New Orleans Marriott Metairie at Lakeway in La., and the 615-room Long Island Marriott in Uniondale, N.Y.

“The hotel cycle is maturing, which creates growth opportunities for experienced operators and investors with a contrarian approach to the industry,” said David Fincannon, COO, BSHS. “We have accumulated a substantial portfolio of managed and owned properties in just six months, and we have a substantial appetite to do more. We currently own and operate all 52 properties in our portfolio and now have the infrastructure, operating systems and structure to take on third-party management contracts. As we grow, we will pivot to focus predominantly on operations on behalf of other ownership groups.

“With a C-suite encompassing more than 570 years of hotel development, ownership and operations experience, we are well positioned to take advantage of the current market conditions,” Fincannon added. “As the number of voices warning of a potential slowdown grows, savvy owners seek operators capable of eliminating unnecessary waste without sacrificing guest satisfaction or revenues. Having owned and operated in all phases of the economic cycle, Blue Sky Hospitality Solutions has direct experience doing just that, as evidenced by a solid first half of the year and a portfolio that leads many industry metrics.”

Led by Founder and CEO Naveen Shah, BSHS is rounded out by COO David Fincannon, Executive Vice-President Ernie Catanzaro and Executive Vice-President Mark Irgang. Shah brings with him nearly three decades’ worth of industry experience, coming most recently from Navika Capital Group, a self-advised commercial real estate company. Fincannon also came from Navika, where he served as chief operating officer. Catanzaro most recently served as head of hospitality for NY-based Olshan properties, and Irgang was regional vice-president of operations at Flex Point Hospitality.

Blue Sky Hospitality Solutions is an approved operator with the world’s leading hotel brands, including Hilton Worldwide, Marriott International, InterContinental Hotels Group, Choice Hotels, Wyndham Hotels & Resorts and La Quinta Inn & Suites. The company’s portfolio covers a variety of segments and includes a full array of full- and select-service hotels, as well as extended-stay and all-suite properties throughout the United States.

New Orleans Marriott Metairie at Lakeway

Located at 3838 N. Causeway Blvd., the New Orleans Marriott Metairie at Lakeway is situated in the hub of Metairie’s central business district and just a few miles from Audubon Aquarium of America, New Orleans Botanical Gardens – City Park and the French Quarter. Guest rooms are furnished with free Wi-Fi, plush bedding and views of either Lake Pontchartrain or the New Orleans skyline (in select rooms). Additional hotel amenities include a Premier Fitness Health Club, pool, business center and meeting space able to accommodate up to 200 people. A complete renovation program is scheduled to take place over the next three years.

“Our ideal hotel portfolio addition is a well-branded property in a primary or secondary market with multiple demand generators and barriers to new entry,” Fincannon noted. “We also are considering a partnership in an upscale, newly built hotel in Florida where BSHS would provide management services, as well. Additionally, we seek best-in-class owners and partners to help us achieve our growth goals.”
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