Press Release

REH Capital Partners Announces Completion of Multi-Million Dollar Hotel Renovation and Re-Opening as MainStay Suites-MainGate in Kissimmee, Florida

Fort Lauderdale, Florida (October 3, 2003) – REH Capital Partners, LLC, announced today the opening of the MainStay Suites Maingate, in Kissimmee, Florida, in the heart of the Central Florida tourism district.  The opening follows the completion of a multi-million dollar renovation of this resort property.  REH, through a private investment consortium, purchased the property several months ago as part of its strategy to capitalize on unique investment opportunities in this down market. 

“We are really excited about the prospects of re-capturing better than our fair share of the market demand for this hotel in the Disney area now that we have restored the luster to this property”, says Frank Nardozza, Chairman of REH Capital Partners and former National Hospitality Practice Leader for KPMG Consulting.  He added, “we are one of the first ever conversions of an existing property to the MainStay Suites brand of Choice International, and this extended stay brand will help us get across the message that we offer home-like features and amenities to vacationing families and guests looking for larger, villa-type accommodations with full kitchens in a hotel-like setting ”.  Comments Jim Fitzgerald, Chief Investment Officer for REH Capital Partners,  “what attracted us to this property was its unique land features and amenities situated on large Lake Cecile minutes from the theme parks with fishing docks, water sports, a sand beach, and guest buildings stretched out over 15 acres of tree lined, landscaped area”.  “It can be easily differentiated from the hundreds of box like hotels with their sprawling asphalt parking lots that blanket most of the area”, he added.

MainStay Suites Maingate is located at the intersection of State Road 535 and Highway 192 in the heart of the Central Florida tourism corridor and just minutes from the Walt Disney World Attractions and Universal Studios Orlando Resort.  The 15-acre resort consists of one and two bedroom suites, all with full kitchens and most with log burning fireplaces, situated in a scenic resort setting along the shores of Lake Cecile.  The property was originally developed as a Marriott Residence Inn.  The resort features a lakeside sandy beach, wooden docks, a sun deck overlooking Lake Cecile, fishing, water sports, a playground, basketball and volleyball courts, a heated swimming pool and Jacuzzi, pool bar and snack bar, and many other resort amenities. 

REH Capital Partners, LLC is a private investment and business advisory services firm headquartered in Fort Lauderdale, Florida with offices in Los Angeles, New York City, and the Washington, DC area.  REH Capital Partners makes principal investments in real estate and hospitality assets and portfolio companies as well as provides strategic investment advice, transactional advisory services, asset management services, and strategic consulting services to a wide range of public and private sector clients. 

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Last modified: 12/09/08