Press Releases
Basin Street Properties Launches Hospitality Division and Partners with Sonoma Mountain Group
Prominent Developer Diversifies Portfolio Throughout Western United States
PETALUMA, Calif., – July 16, 2007 – Basin Street Properties, a prominent Northern California and Northern Nevada developer of commercial and mixed-use properties, has expanded its real estate portfolio to include the hospitality industry. Basin Street Hospitality will be led by some of the top players in the real estate industry, including Matt White, president of Basin Street Properties, in partnership with Tom Birdsall, president of Sonoma Mountain Group. Officially launched today, Basin Street Hospitality currently has two hotels under construction and the partners operate two existing hotels in Northern California.
"The hotel industry is thriving as unprecedented amounts of capital are being pumped into the sector," said Matt White, president of Basin Street Properties. "The timing is ideal for us to launch our hospitality division as we continue to diversify our portfolio. Basin Street’s deep knowledge of the real estate industry and experience in property acquisition, development and management combined with Sonoma Mountain Group’s hospitality expertise makes it an ideal partnership. We look forward to this new venture and building a successful hotel portfolio in key markets throughout the western United States."
According to Tom Birdsall of Sonoma Mountain Group, whose company oversees the management of the Sheraton Hotel in Petaluma, which recently repaid the City of Petaluma’s economic development loans 20 years early, "This is an exciting opportunity and I am thrilled to be working with such a reputable and visionary company as Basin Street. Our goal is to build new hotels or reposition and upgrade existing properties to provide high quality, service-oriented hotels that will cater to the specific needs of both our guests and each of the communities in which we operate."
The first two hotels to be built under the Basin Street Hospitality moniker will be Hampton Inn & Suites in Windsor, Calif. and Suisun City, Calif. Both properties are expected to be completed by the winter of 2008. Hampton Inn is part of the Hilton family of hotels, and each property will feature more than 100 spacious rooms or suites, first rate furnishings and design elements, and all of the amenities that today’s business and leisure travelers expect and need to be productive and feel comfortable while on the road. Currently under Basin Street Hospitality ownership is the Holiday Inn Express in Corning, Calif., and Sonoma Mountain Group oversees the Sheraton Sonoma County–Petaluma hotel.
"The business traveler market continues to grow and our goal is to serve this market segment by providing first rate hotel service in a friendly, responsive and professional manner," added White. "It takes a high level of dedication and effort to maintain top level service. Wherever we own and manage hotels, we are going to recruit, train and support excellent staff and aim to have very satisfied guests. That is what the best hotel companies do and we plan to be one of the best."
Sonoma Mountain Group identifies and maximizes opportunities in a wide variety of business fields, and has experience converting under-performing hotels into top performing properties. Under the leadership of Tom Birdsall, the company was instrumental in positioning the Sheraton Sonoma County–Petaluma hotel as one of the top performing hotels in the region with guest satisfaction scores among the top five percent for its category. As a partner in Basin Street Hospitality, Birdsall will play a leading role in overseeing the operations of all the company’s hotels, paying particular attention to the specific needs of guests in each location.
Basin Street Properties, headquartered in Petaluma, Calif., is one of Northern California's and Northern Nevada's prominent developers and managers of commercial properties. Basin Street has become widely recognized for its office, retail and mixed use developments. Founded more than 30 years ago, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition. For more information on Basin Street Properties, please call 707.795.4477 or visit www.basin-street.com.
