TAMPA, Fla., May 9, 2007 (PRIME NEWSWIRE) -- The Plasencia Group, Inc. (TPG) announced that it has been retained by Lane Hospitality to assist in implementing the company's strategic change in its ownership structure. Under the agreement, TPG will pursue new equity sources on behalf of Lane Hospitality's senior management team. The change in ownership structure is being undertaken to facilitate an aggressive growth plan, while meeting the diversification needs of the Lane family.
This investment banking assignment is a continuation of TPG's move to diversify and expand its advisory services. "This truly is an exciting project for many reasons," explained Lou Plasencia, chairman and CEO. "We are pleased to be able to bring TPG's considerable experience to bear on creating an aggressive platform for growth for Lane Hospitality. Given their extremely capable management team, the strong financial performance of their hotel portfolio, and their history of success, we have already received considerable interest from potential investors and capital providers seeking a well-established platform."
The engagement is being handled through TPG's Capital Markets Group, headed by Stephen Kindl, Managing Director. Also leading the engagement is Rich Conti, President of The Plasencia Group. For more information on this investment opportunity, contact Stephen Kindl at (860) 815-5938.
About The Plasencia Group, Inc.
Founded in 1993, The Plasencia Group is a leading hospitality advisory firm representing owners of hotels, resorts, and golf courses, with 11 offices across the country. In conjunction with its affiliates, Regent Street for luxury properties and Sun Hospitality Advisors for limited- and select-service properties, The Plasencia Group has provided personalized, valued-added investment opportunities and services to clients such as Prudential (NYSE:PRU), Host Hotels & Resorts (NYSE:HST), Hilton Hotels Corporation (NYSE:HLT) and Metropolitan Life Insurance Company (NYSE:MET). The Plasencia Group offers a full range of value-added solutions, including transactions, property valuation analyses, financial and strategic planning, project management and disposition, and proprietary industry research.