New Castle Sees Golden Years Ahead for Hotels

SHELTON, CT—Despite stagnant economic growth and a cautious development environment, some hotel real estate companies are pushing ahead with ambitious growth plans. New Castle Hotels and Resorts could indeed be counted among those organizations. The locally based firm is in a period of “unprecedented growth,” with plans to expand its guestroom portfolio by 20%.

The company will add four new hotels to the market this year, following those up with at least one more in the first half of 2014. New Castle president and COO Gerry Chase says the company has been positioning itself to weather downturns since its inception 30 years ago.