Hotel developer looksto build on opportunities

2019 PBN Fastest Growing Companies: $25m – $75M
5. Lafrance Hospitality Corp.

CEO (or equivalent): Richard Lafrance
2018 Revenue: $62,559,578
2016 Revenue: $50,165,176
Revenue growth: 24.7%

Lafrance Hospitality Corp. began building a hotel, TownePlace Suites Marriott, near White’s of Westport in Massachusetts this summer, the latest in a growing hotel portfolio in New England and Florida.

The construction followed additions to the Westport, Mass.-based company’s hotel properties, including a Holiday Inn Express in Middletown in 2018, a Residence Inn in North Conway, N.H., in 2017 and Fairfield Inn & Suites in Plymouth, N.H., and Courtyard by Marriott Boston in Littleton, Mass., both in 2016.

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The quick addition of properties to the company’s lineup is a result of the Lafrance Hospitality’s ambitious, shrewd eye on promising properties, said Cameron Camara, Lafrance communications and marketing specialist.

“We’re trying to be the first person to that opportunity” when a promising piece of real estate is on the market, Camara said.

Making the properties in its constellation shine like stars is a big part of expansion plans, he said. The new properties are meticulously managed for success with the help of about 705 employees, whom Camara described as dedicated, efficient people.

“That also helped us a lot,” Camara said.

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