StepStone Hospitality Continues Rapid Growth With Acquisition Of Two Baton Rouge Properties Company takes over management of Residence Inn by Marriott and Courtyard by Marriott

PROVIDENCE, R.I., June 3, 2013 /PRNewswire/ -- StepStone Hospitality has been awarded management of two Baton Rouge hotel properties, bringing its management portfolio to 10 hotels and more than doubling the number of hotels in its portfolio during the past six months. Based in Providence, R.I., StepStone is a hospitality management company specializing in full-service and select-service hotel operations. The Baton Rouge hotels are owned by a joint-venture partnership that includes StepStone Hospitality.

"It is our ongoing strategy to grow our portfolio through both third party management agreements as well as acquisition opportunities where we can participate in ownership through a partnership," explained Thomas Russo, StepStone Hospitality chairman and CEO.

The two properties are the Residence Inn by Marriott Siegen Lane, a 108-suite facility, and the Courtyard by Marriott Siegen Lane, which has 115 rooms and suites. Together, they bring the number of managed rooms for StepStone Hospitality to more than 1,700.

"We're delighted to add these two fine properties in Louisiana's capital city to our portfolio," said Blair Wills, StepStone Hospitality president and chief operating officer. "They are extraordinary hotels and fit perfectly with our ongoing strategy to seek out growth opportunities in both the full-service and select-service categories."

The Courtyard by Marriott Siegen Lane is newly renovated with complimentary Wi-Fi, high-definition television and mini refrigerators in all rooms. Guests can enjoy the hotel's heated indoor swimming pool, hot tub and fitness center.

The Residence Inn by Marriott Siegen Lane has spacious suites with full kitchens and separate areas for sleeping, working and eating. Amenities include free breakfast, complimentary Wi-Fi, picnic and barbecue area, and complimentary beer and wine. The hotel is scheduled for renovation in the coming months.

Both properties offer complimentary onsite parking, a smoke-free environment and are convenient to great shopping, dining and entertainment, including the Mall of Louisiana, Blue Bayou Water Park and Louisiana State University.

Founded in 2007, StepStone Hospitality specializes in management for full-service and select-service hotel and restaurant operations. The company provides a unique combination of strong, hands-on operations, world-class strategic asset management, and food and beverage expertise, maintaining a balanced focus between revenue enhancement, margin expansion and guest satisfaction.

SOURCE StepStone Hospitality



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