Denton and his firm, Gencom Group, a private, Miami-based hospitality investment firm along with Wyndham International, Inc. (AMEX:WBR) and Lehman Brothers Real-Estate Partners (LBREP), have formed a joint venture to develop and grow the Summerfield Suites by Wyndham, an upscale, extended-stay brand. The transaction closed on Wednesday, Dec. 22, 2004. "The Summerfield Suites brand will be an autonomous division of Wyndham International with a separate management team to oversee the development, operations, and franchise sales functions. This, combined with the growth capital provided by the Gencom-Lehman partnership will give Summerfield the resources needed to realize its full potential", said Denton.
"The opportunity to improve on Summerfield Suites' proven brand and build a team of talented industry professionals, make this position truly unique. The partners look forward to working with the new CEO to establish an independent, well capitalized company focused exclusively on making Summerfield Suites an industry leader in the upscale extended-stay lodging sector", said Phillip H. Alfus, President, of the New York City based, The Alfus Group, Inc.
Questions on the above can be e-mailed to Mr. Alfus at email@example.com.
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