Prime Hospitality Corp.

Prime Hospitality Corp.

Prime Hospitality Corp.

Overview
Date Founded

1968

Headquarters

700 Route 46 East,Fairfield, NJ 07004

Type of Company

Private

Industries

Hotels, Resorts, and Cruiselines
Other Business & Consulting Services

Company Description

Prime Hospitality Corp. owns, operates and franchise hotels. The company was founded in 1968 and is headquartered in Fairfield, NJ.

Contact Data
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Executives & Employees

General Manager

Controller

Principal

Chief Engineer

Senior Vice President of Purchasing

Registered Nurse

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Prime Hospitality Corp.
Recent Transactions
Details Hidden

Buccini Pollin Group, Inc., Lubert Adler Management, Inc. purchase Sheraton Meadowlands Hotel from Prime Hospitality Corp., The Blackstone Group, Inc.

Details Hidden

Blackstone Real Estate Advisors, The Blackstone Group, Inc. purchase Prime Hospitality Corp.

Details Hidden

Prime Hospitality Corp. purchases Shoreham Hotel

Transaction Advisors
Accountant

Advised onPrime Hospitality Corp. purchases Shoreham Hotel

Accountant

Advised onPrime Hospitality Corp. purchases Homegate Hospitality, Inc.

Investment Advisor

Advised onBlackstone Real Estate Advisors, The Blackstone Group, Inc. purchase Prime Hospitality Corp.

Investment Advisor

Advised onBlackstone Real Estate Advisors, The Blackstone Group, Inc. purchase Prime Hospitality Corp.

Co-Head, Shareholder Activism Practice

Advised onBlackstone Real Estate Advisors, The Blackstone Group, Inc. purchase Prime Hospitality Corp.

Advisors & Consultants
Legal Advisor

Partner, San Francisco at Pillsbury Winthrop Shaw Pittman LLP

Legal Advisor

Senior Counsel at Whiteford Taylor Preston LLP

Non-Profit Donations & Grants
$1,000 - $2,499
1999
Political Donations
$1,000
2005
$5,000
2002
$250
1998
Investors
Details Hidden

Blackstone's real estate investments are made in a variety of sectors, geographic locations and business climates. They make a significant number of investments in the lodging sector, major urban office buildings, residential properties, distribution and warehousing centers and a variety of real estate operating companies. Blackstone bases their investment strategy on identifying well-located institutional quality properties that suffer from temporary or correctable flaws in their tenancy, physical attributes, capital structures, market position or management.The firm's real estate philosophy is generally guided by the fundamental premise that future cash flow, not 'trophy status' or fashion, ultimately determines the value of an asset. Blackstone believes that rigorous due diligence, the use of conservative assumptions in projecting cash flows, and careful assessment of possible downside scenarios are the best methods for consistently achieving its objectives.In evaluating any investment opportunity, one of Blackstone's primary considerations is the potential exit strategy. To that end, the firm focuses on making investments in high quality, well-located assets. In addition, factors that reduce the value of an asset (such as ground leases, preemptive rights, long-term management contracts or other restrictions on the owner's control) are scrutinized during due diligence to determine the effects on value. Finally, the firm seeks investments with multiple exit strategies including private one-off sales, portfolio sales within common asset classes, mergers with existing public entities or initial public offerings of stand-alone operating companies.

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