Rim Hospitality, one of the leading hotel management companies in North America, recently formed a division specifically to support Foreign and Chinese investors. This unit is solely dedicated to assist with hotel acquisitions in the U.S., and will provide specialized services that may include strategic analysis, comprehensive asset and operational review, identifying potential value enhancement, underwriting, evaluation and selection of franchise, facilitate due diligence process and oversight and management of the asset.
We have seen a huge jump in Chinese investors dipping into the hotel real estate market over recent years and we wanted to create a group within our company that provides specific support tailored to meet their needs, stated, Mark LeBlanc, Senior VP of Development Rim has been providing hotel management services for over 30 years and currently manages over a billion dollars in assets. They attribute a lot of their success to having built strong relationships on a foundation of trust that has continually been supported by the company's integrity, industry experience, and transparency. In addition to the explosion in foreign investment we have also seen resurrection in development projects. Over the last year nine hotel development projects resurfaced and now are moving forward to, or have passed, the initial planning stages. Our new build pipeline is steadily growing with viable projects that we are confident will get built.
Formed in 1983 to inspire hotel owners and managers to achieve success, Rim Hospitality is one of the top hotel management companies in the U.S. Representing convention center, full-service, focused-service and independent luxury hotels and restaurants such as Hotel Erwin and Hotel Angeleno, Rim Hospitality counts more than 80 hotels and restaurants in its portfolio and is a preferred management company for Marriott, Starwood, Hilton and Hyatt. In addition, Rim Hospitality has directed construction of more than one dozen hotels and managed major renovations in scores of other properties. Headquartered in Newport Beach, Calif., Rim Hospitality leads clients in creating exceptional hotel experiences.
