Wilton firm that owns, renovates and manages hotels one of Top 5 fastest growing in state

Nashua Telegraph, 11/29/2009, www.nashuatelegraph.com

WILTON – At a time when most businesses are cutting back on travel, it might come as surprise that a hotel company has been named one of the fastest growing companies in the state.

That designation recently went to Wilton-based Roedel Cos., named by Business New Hampshire Magazine as one of the five fastest-growing private companies in the state based on its earnings over the last three years.

Roedel has owned and operated a line of hotels, primarily in the Northeast and mid-Atlantic, for about 40 years. The company expanded the business over last few years to include building, renovating and managing hotels for other private investors and owners, which explains much of the growth.

To do this, Roedel created several new subsidiary companies, including ROK Builders and RGH Hospitality, the property management arm.

“We recently changed our strategy,” said David Roedel, a partner in the family-run company. “Instead of building and running our own hotels, we offered our services to other owners.”

Most of the company’s clients are nationally branded chains such as Holiday Inn, Hilton and Hampton Inn. The company works with mid-range hotels of about 100-150 rooms, Roedel said. “We don’t do the big resorts. That is whole different game,” he said.

The company got its start about 40 years ago with the creation of the Susse Chalet motel chain by Roedel’s father, Fred Roedel. That chain of budget hotels grew to 34 before being sold in 2000 to real estate giant Olympus Real Estate Partners.

“All the things we used to do for Chalet, we’re doing now for other owners,” David Roedel said.

In addition to planning and design work on behalf of other hotel owners, the company currently manages three hotels and owns three, including the Hilton Garden Inn in Manchester that overlooks the minor league baseball stadium where the New Hampshire Fisher Cats play.

The current company was founded in 2000, but the first six years were spent developing a portfolio, so Roedel considers the current aspect of the business only about 3 years old.

Founder Fred Roedel still serves as president of Chalet Susse International Inc. He’s still an advisor and counsel to Roedel Cos., but his children, who grew up in the hotel business, are now running the company.

Son Fred Roedel III serves as a partner and president of ROK Builders. Daughters Jennifer Bernard and Susan Pollio are heading up the company’s design and procurement subsidiary, RSJ Associates.

Running a hotel business isn’t easy in the current economy. “I thing the hotel industry has gone through its most challenging time ever,” David Roedel said. “I think there will be changes in the industry, but challenges create opportunities. The growth we’ve seen is in the mid-size hotel,” places like Courtyard by Marriott and Hampton Inn. “The cost is lower; you can be in more places. One problem (with the business) is over-supply: hotels in places where they shouldn’t have been built,” he said. Hotels rely on business travel, Roedel said, but companies are cutting down on business travel.

“Who travels to and stays in Manchester on a Tuesday?” he asked. “Hotels depend on business during the week. The weekend is for the others. The economy affects everyone,” he said, noting decline in air travel. “Hotels are about 13 percent of commercial real estate and is one of the last areas to recover” in a downturn.

Projects for other owners the company is currently involved in include two hotels in Connecticut, two in upstate New York and one in Vermont.

The company’s corporate headquarters are at Summit Executive Park on Route 101 West.