The four existing Lam properties under management by Marshallare part of an August 2007 agreementfor Marshall to provide services to accelerate the Lams' planneddevelopment in New York City. Marshall also manages the Lams'158-key Four Points by Sheraton Manhattan Chelsea at 160 W. 25thSt. and the 154-key Fairfield by Marriott at 52-34 Van Dam St. inLong Island City.

In a release, Michael Marshall, president and CEO of MarshallManagement, says his company has "a strong demand for mid-market,moderately sized, value-priced properties in the Manhattan market,and the Lam projects are perfectly suited to tap into this market."He adds that his company plans to highlight the "unique interiordesign" of the two Soho properties "to attract both leisure andbusiness guests."

A Marshall spokesman tells GlobeSt.com that the Lams' FourPoints by Sheraton Midtown-Times Square at 326 W. 40th St. isslated to open in three months; the Starwood Hotels website listsan opening date of March 26, 2009 for the property. The FairfieldInn Times Square, next door at 330 W. 40th St., is slated to openin two months, the spokesman says. The Lam Group, run by CEO JohnLam, and Lam Generation, run by his son Jeffrey, currently operatehotels in Manhattan, Brooklyn and Queens and have others indevelopment.