Business Notes: Property Management Company Names New President
Plus: Bethesda law firm announces leadership changes; Marriott International sees income dip in first quarter 2019 results
Comsource named Tony Martella as president last week.
Via Comsource Management Inc.
Property management company names new president
Comsource Management Inc. announced last week Peter Mechak would be stepping down as president after 30 years and Tony Martella would be promoted to the role.
Mechak has been with Olney-based Comsource for more than 40 years. He will continue as a principal and assist with the strategic direction of the company, which provides management services and consulting to homeowners’ associations in the region, including Fallswood in North Bethesda.
“Comsource has been a once-in-a-lifetime opportunity for me — from employee to owner — over the last 43 years,” Mechak said in a statement. “And Tony has been with me for much of that time. He is a tremendous asset to our company, and I look forward to working with him as he leads us into our next chapter.”
Martella has been with the company for three decades, beginning as a property manager in 1986 and most recently serving as director of property management. He will be in charge of more than 100 properties with about 25,000 units in the Washington region.
“It’s been a tremendous pleasure to be part of the Comsource team for the past 34 years,” Martella said in a statement. “I look forward to the challenge of continued growth and providing the high level of service to our clients that has made Comsource the leading community management company in the mid-Atlantic.”
Comsource manages a variety of properties and associations, from condominiums to homes and mixed-used developments. The company was founded in 1971.
Bethesda law firm announces leadership changes
Paley Rothman has promoted Michelle Chapin to shareholder and named Jessica Summers a principal, according to a news release.
Chapin came on board in 2012 as an associate and has worked largely in estate planning and estate and trust administration. She most recently served as a principal in the firm’s estate planning, estate and trust administration, tax, and corporate practice groups.
Summers joined the firm in 2011 as a law clerk, becoming an associate the following year. She assists companies in a wide range of aspects, including effective employment policies, addressing corporate planning issues and advising clients on regulatory developments.
“We are proud to recognize Michelle and Jessica for their outstanding performance and contributions,” Paley Rothman Co-President James R. Hammerschmidt said in a statement. “They are talented lawyers, committed to their clients and to improving our communities, and we look forward to their continued leadership and success.”
Paley Rothman was founded in 1972. The firm added six new lawyers in March.
Marriott International sees income dip in first quarter 2019 results
The Bethesda-based hotel company Marriott Internatioanl reported net income of $375 million, an 11% decrease from the first quarter 2018.
Adjusted net income for the company only fell from $487 million to $482 million in the year-over-year comparison. Adjusted results do not include merger-related coasts and reimbursed expenses.
Marriott had $44 million in expenses and recognized $46 million of insurance recoveries related to a November 2018 data security breach.
Marriott added nearly 19,000 rooms during the first quarter, including roughly 8,000 rooms in international markets. The company announced the opening of its 7,000th property in April and has plans to debut 1,700 hotels around the world in the next three years.
“Our results in the first quarter highlight the resiliency of our business model and the strength of our brands,” Marriott President and CEO Arne M. Sorenson said in a statement. “Year-to-date through May 8, we have returned nearly $1.2 billion to our shareholders through share repurchases and dividends, and we continue to expect to return at least $3 billion for full year 2019.”
Bethesda-based IT services company hosts annual cooking contest
DMI held its eighth annual Tech Chef Grill Competition last, pitting employees against each other in a timed cook-off.
Four teams competed in the event, preparing an appetizer, meat entrée and dessert for a panel of fellow employees serving as judges. The teams were surprised Wednesday morning with mystery ingredients they had to include in the dishes.
The “Defense Hot Dawgs,” made up of Tony Carmadella, Exavier Watson, Joshua King and Kris Kindoll took home the victory, earning one of the state-of-the-art grills used in the competition.
DMI has 21 locations around the world. The company has more than 2,000 employees and partners with clients on digital transformation and mobility services.
Charlie Wright can be reached at firstname.lastname@example.org