MHI Hospitality Corporation
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MHI Hospitality Corporation (NASDAQ: MDH) is a self-advised REIT that focuses on acquiring, renovating and upbranding underperforming hotels. They have their headquarters in Williamsburg Virginia. They are in the S&P SmallCap 600.
MHI Hospitality was begun over 50 years ago by Edgar Sims Jr. In August 2004 they became a real estate investment trust. They own 9 hotel properties with over 2000 guest rooms. They operate under such well-known brand names as Hilton, InterContinental Hotels Group, and Starwood Hotels and Resorts. The properties are leased to MHI Hospitality TRS, LLC, which hires MHI Hotel Services, LLC to manage the hotels. It conducts business through MHI Hospitality, L.P., the operating partnership.
They received the 2007 Renovation Award from InterContinental Hotels Group for the work they did on the Holiday Inn Laurel West.
MHI Hospitality Properties Include:
Hilton Philadelphia Airport, the Holiday Inn Brownstone, the Hilton Wilmington Riverside, the Hilton Savannah DeSoto and the Holiday Inn Laurel West -- all located in Pennsylvania, Maryland, Georgia and North Carolina. Plus, the Hilton Jacksonville Riverfront in Jacksonville, Florida, now renamed the Crowne Plaza Jacksonville Riverfront. The Louisville Ramada Riverfront Inn in Jeffersonville, Indiana, now known as the Sheraton Louisville Riverside. The Clarion Hotel in Tampa, Florida, now known as the Crowne Plaza Tampa Westshore. The Hampton Marina Hotel was acquired on April 24, 2008, and will be renamed the Crowne Plaza Hampton Harborside.
Plus, they own a 25% interest in the Crowne Plaza Resort Hollywood Beach and a leasehold interest in the Shell Island Resort in Wrightsville Beach, North Carolina.
MHI Hospitality is a relatively small hotel real estate investment trust, but has a specialization of creating value for underperforming hotels.
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