Press Release – October 1, 2009
CEDARBROOK CONFERENCE CENTER ACQUIRED BY LOCAL GROUP
SEATTLE – (October 1, 2009) – Cedarbrook Lodge, LLC, through its managing member, Wright Hotels, Inc. has announced that Monday it acquired the Cedarbrook Conference Center, a 14,000 square foot conference facility and 110-room hotel located in the City of SeaTac, Wash., less than a mile from Seattle Tacoma International Airport. Cedarbrook was opened in 2002 as a corporate training center for Washington Mutual Bank. JPMorgan Chase, successor in interest to Washington Mutual after WAMU’s failure last year, put the property up for sale earlier this summer.
“Cedarbrook is a first-class conference center and lodging facility on a par with the Bell Harbor Conference Center in downtown Seattle and we are very excited to be in a position to take Cedarbrook into its next phase of operations,” said Stuart Rolfe, president of Wright Hotels. Rolfe added that Cedarbrook’s proximity to the airport as well as the nearby Sound Transit station with direct access to downtown Seattle were key factors in the acquisition decision.
Wright Hotels, Inc., named for its founder and Rolfe’s father in law, Howard S. Wright, along with Jerome Anches, is involved with several other west coast properties, including the Seattle Sheraton, the Portland Red Lion, the Monterey Marriott and was co-developer of the Waterfront Marriott in downtown Seattle. Wright Hotels, in conjunction with Anches and several other local investors have formed Cedarbrook Lodge, LLC to take title to the property. Cedarbrook will be operated by Coastal Hotel Group, a Seattle-based hotel operator which was formally operator of the Salish Lodge and currently operates The Resort at The Mountain and Hotel Fifty in Oregon.
For further information, contact Stuart Rolfe at 206-292-4960; Jerry Anches at 206-624-2420; or Yogi Hutsen at 206-388-0400.