"As the hotel industry emerges from one of the deepest economic recessions in history, we believe that many exciting opportunities are emerging to grow our portfolio of hotels through new investments and property acquisitions," says Gregory Armstrong, president of Wedge Real Estate Holdings Inc.

Wedge Hotels Corp. currently operates four properties: Radisson Hotel and Suites, Chelmsford, MA.; Sheraton Suites, Houston, TX.; Wyndham Boston Chelsea Hotel and Marriott Courtyard, Shelton, CT. "The company's financial strength and commitment to grow present an exciting opportunity to expand this business at an opportune time in the economic cycle," Stage notes.  "Our goal is to double the size of the current Wedge hotel portfolio in the next two years and triple it by 2013," he adds.

Stage said that he is actively seeking hotel investment opportunities in the northeastern US and Texas, where the company already has assets, and that they will seek acquisitions in other parts of the country that enable Wedge Hotels to develop properties in geographic clusters.

Armstrong points out that Stage's depth of industry expertise and proven leadership talent "create a solid foundation for our plans to significantly grow our hotel investments and overall portfolio in the next three years." Stage previously held top leadership positions in the brands and functional areas of Carlson Hotels Worldwide. He also served as president of Radisson Hotels & Resorts; EVP of sales and distribution for the five brands of Carlson Hotels Worldwide and EVP for marketing and sales of Radisson.

Stage also served as VP of sales and marketing for Inn America Corp. and held various general management and sales leadership positions with Sheraton Corp. Most recently he served as an executive consultant for Radisson Edwardian Hotels, owner and operator of 13 upscale properties in greater London and Manchester, U.K.