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Magnolia Hotels Appoints Director of Development & Acquisitions

Oct. 9, 2008 (DENVER)—Magnolia Hotels today announced Eric Holtze has been named to the newly-created position of Director of Development & Acquisitions, a strategic addition to Magnolia Hotels’ executive team, as the company is currently focusing on an aggressive growth plan.

Holtze brings to the Magnolia an extensive background in financial analysis for hotels and resorts, having most recently served as the Director of Financial Analysis for The Plasencia Group, a full-service hotel investment and consulting firm based in Tampa, Fla. The company has handled the sale and financing of assets ranging from small limited service hotels, to major assets in gateway markets. Holtze was responsible for assisting the company president and regional vice presidents in creating a professional and seamless methodology for the valuation of more than a billion dollars of hotel assets annually, ranging from $5 million limited service properties to full-service luxury resorts. Holtze worked with properties in all 50 states, Canada and the Caribbean, and also was involved with the company’s asset management and development consulting divisions.

“Eric will play an integral role in our efforts to grow the Magnolia Hotels portfolio,” said Leigh Hitz, president of Magnolia Hotels. “His expertise in hotel financing will be a true asset to us when we are seeking to acquire properties that may require a substantial amount of capital expenditures.”

Holtze holds a Master’s degree in Hotel Administration with an emphasis on real estate finance and development from Cornell University and a bachelor’s degree in History from Bucknell University.

“I am excited to join Magnolia Hotels, and look forward to adding one to two properties per year to the Magnolia portfolio,” said Holtze.

The Magnolia hotels are upscale boutique hotels catering to the sophisticated traveler, operated by Denver-based Magnolia Hotels, a privately held hotel management and development company. The company focuses on development, management, acquisition, re-branding, new construction and conversion of existing independent hotel properties. The core product line consists of award-winning, independent boutique hotels that offer a comfort, personality and style unlike that of trendy or branded hotels. Stylish interiors are designed with local flair. Comfort is fashioned through warm personal spaces such as signature Club rooms and restful suites. The company currently operates Magnolia hotels in Denver, Dallas, Houston and Omaha and is exploring other markets for additional growth opportunities.  Magnolia Hotels also is actively seeking to acquire new hotel management contracts. For more information, visit

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