Baltimore Native Launches National Hospitality Management and Consulting Firm
Michael Haynie Brings Extensive Experience in Hotel Operations and Financial Management
Baltimore, MD – March 29, 2011 Baltimore native and respected hospitality industry expert, Michael Haynie has announced the formation of one of Maryland’s first African American owned and operated hospitality management firms, Parkway Hospitality Management. Parkway will offer management services to a full spectrum of properties within the hospitality industry, but will specialize in the niche markets of third party ownership, distressed, foreclosed and bank owned properties, properties held by REITs (Real Estate Investment Trusts), and properties in receivership.
Research released in February 2011 indicates that securitized hotel loans have the highest delinquency rate of commercial mortgage backed securities, at 13.83 %. It is estimated that hotel loans worth a total of $9.3 billion are currently classified as delinquent. “With the downfall of the economy, many financial institutions and corporate real estate entities have found themselves in the possession of hotels without the expertise to manage them efficiently and effectively. Our firm is able to capitalize on this need and provide the needed expertise to manage these properties in a way that is profitable and meets the needs of consumers,” stated Haynie.
Haynie, who has over 32 years of experience in executive level leadership positions with luxury hotels, recognized the need for his expertise in successful management of hotels and decided to open Parkway Hospitality Management to fill the void in these niche markets.
Parkway’s vision is to be the premier hotel management company in the nation. Haynie has assembled a team of professionals with unmatched experience and expertise in Sales and Marketing, Accounting, Revenue Management, Operations, Food and Beverage, Human Resources and Training and Development. Parkway will serve its clients by stabilizing, optimizing and maximizing the performance of each asset managed by their top notch team of financial and hospitality experts.
Having most recently served as Vice President and Managing Director of the Tremont Suite Hotels, Haynie was also appointed by Governor Martin O’Malley to the Maryland Tourism Development Board. In addition, Haynie has been a member of the Corporate Board of Directors of Visit Baltimore and The Charles Street Development Corporation. He also serves as President of the Waverly Main Street Business Association and as Board Treasurer of the Maryland Hotel and Lodging Association. Haynie also attended Northeastern University in Boston, Massachusetts.
About Parkway Hospitality
Parkway Hospitality prides itself in delivering effective, efficient, and cost optimizing ideas working directly toward accomplishing both immediate and long term goals on behalf of its clients. Parkway Hospitality Management partners with clients to optimize and maximize the value of their clients’ assets.
Parkway’s executive team has decades of experience in successfully operating a wide range of hotels ranging from two to five star properties. Their management team consists of industry experts in the fields of Sales and Marketing, Accounting, Revenue Management, Operations, Food and Beverage, Human Resources Training and Development, and Shopper Services. Parkway’s Operational Auditing Division guides clients to help them build a strong financial foundation which leads to improved profitability and memorable guest experiences. Additionally, they provide professional development services including hotel construction and renovation services.
Parkway’s goal is to provide the management expertise and services to build a strong foundation for their clients’ properties while improving profitability and increasing market share. For more information on Parkway Hospitality Management please visit www.parkwayhospitalitymanagement.com.
For additional information please contact Colleen Riopko of Barb Clapp Advertising and Marketing at (410) 561-8886 or via email at colleen@barbclapp.com.