Dallas-Based Company Signs Deals to Run Resorts in Europe
By Steve Brown, The Dallas Morning News
Knight Ridder/Tribune Business News

Sep. 23--Dallas-based Foresthills Hotels & Resorts said it has contracted to manage new luxury hotels and resort properties in Europe, the Middle East and United States.

Foresthills was formed last year by former Rosewood Hotels top officer Atef Mankarios.

"In the past nine months, we have entered into agreements to provide technical assistance and ongoing management and marketing for the global projects we are announcing today, and we are working on other agreements at this time," Mr. Mankarios said in a Wednesday announcement.

The hotel properties include a new luxury golf and spa resort in Verona, Italy, called Palazzo Arzaga and a new hotel in Monte Carlo, Monaco.

Foresthills said it also will manage a 340-acre resort in Barbados called The Tamarind Club and two Nile riverboats in Egypt.

In the United States, Foresthills has contracts with the Warwick Hotel and Towers in Philadelphia -- now undergoing a remodeling -- and the Inn at McDonogh under construction in Owing Mills, Md.

The company also is providing feasibility studies for a new hotel and conference center in Brussels, Belgium.

Foresthills gets its financial backing from New York-based Apollo Real Estate Advisors.

In January 1998, Mr. Mankarios left his position as president of Rosewood Hotels after almost 10 years as head of the company.

He previously managed Rosewood's flagship Mansion on Turtle Creek Hotel in Dallas.

Mr. Mankarios' departure came two months after Rosewood announced that it was selling a 50 percent stake in the hotel chain to Maritz, Wolff & Co., a hotel investment group from California.

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