PRESS RELEASES


 
 

DAYS INN OAKLAND PARK HOTEL IN FT. LAUDERDALE, FL SOLD BY MILESTONE HOTEL PARTNERS, LLC
October 29, 2004

Company Plans to Re-Deploy Proceeds from Sale of Asset Into Strategic Growth Opportunities
Boca Raton, Florida based Milestone Hotel Partners, LLC, owner of fourteen hotel properties in six states, announced this morning their sale of the Days Inn Oakland Park Hotel (1595 W. Oakland Park Blvd., Oakland Park, Florida 33311).

Commenting on the sale, Mason W. Mednick, Executive Vice President of Milestone, said, "The Days Inn Oakland Park was one of Milestone's first acquisitions. Originally purchased in October of 1997, the property proved a steady contributor to the growth, development and ongoing success of our company. Having invested heavily in the growth of our sales and marketing human resources infrastructure, specializing primarily in group and meeting sales and planning, we look forward to the redeployment of the proceeds from the sale of this non-strategic asset into more strategic opportunities such as our recent acquisition of the full service, 299-room Holiday Inn East hotel in Harrisburg, Pennsylvania."

Milestone currently maintains a strong presence in the state of Florida, where the company continues to own and operate three other properties: the Holiday Inn DeLand (DeLand, FL), the Days Inn North Ft. Myers (Ft. Myers, FL), and the Days Inn Busch Gardens Maingate (Tampa, FL). The sale of the Days Inn Oakland Park brings the Milestone Portfolio in the Sunshine State to three hotels representing 450 guest rooms and 10,000 square feet of meeting space.

In addition to the Florida-based properties, Milestone also owns and operates the Hilton Washington DC/Silver Spring Hotel (Silver Spring, MD); the Holiday Inn Harrisburg-Hershey (Grantville, PA); the Holiday Inn Harrisburg East (Harrisburg, PA); the Best Western Inn Hershey (Hershey, PA); the Best Western Gateway Adirondack Inn (Utica, NY); the Holiday Inn Utica (New Hartford, NY); the Microtel Inn & Suites (Sulphur, LA); and a consortium of 4 Days Inn properties in Frankfort, Shepherdsville, LaGrange, and Fort Wright/Cincinnati, KY.

 

 


 

     
           
       
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