B. F. Saul Company

Saul Centers Inc.
Traded as NYSE: BFS
S&P 600 Component

B. F. Saul Company is a large, private real estate firm based in Bethesda, Maryland. Since its founding in 1892, B. F. Saul Company has been influential in local real estate affairs. In 2007, Washingtonian awarded B. F. Saul Company, along with five other companies, the title of Great Places to Work.[1]

History

Bernard Francis Saul opened Saul Company in Washington, D.C. on December 1, 1892 at the ripe young age of 19. Saul Company started as a mortgage bank and developer and was quite successful. Within eight years of starting the firm, B. Francis Saul founded the Home Savings Bank and soon after merged it with the American Security and Trust Company. During his time, Saul Company became B. F. Saul Company.

Bernard Saul II founded Chevy Chase Bank, one of Washington, D.C.’s largest locally based banks, in 1969. Soon after, the Hotel Division was founded to manage the several hotels owned by the company in 1976. B. F. Saul Company sold Chevy Chase Bank to Capital One for $520 million in cash and stock in 2009.[2]

Today, B. F. Saul Company operates several divisions including property management, development and construction, leasing, insurance, and hotels.

Operating Divisions

Property Management

This division works to manage B. F. Saul Company’s office buildings and corporate parks. While most properties are in the Washington, D.C. area, B. F. Saul oversees several properties in Atlanta, Georgia, as well.

Residential

The Residential Division currently manages, markets, and develops the Company’s property in the Washington Metropolitan Area and Georgia. In the past, this division has provided various types of management for Kansas, Tennessee, Texas, Florida, and Louisiana.

Washington’s historic Kennedy-Warren Apartment Building is one of the properties managed by B. F. Saul Company. This apartment building is famous for its art deco architecture and notable inhabitants. In 1989, the Kennedy-Warren Apartment Building became a District of Columbia Historic Landmark and five years later, was added to the National Register of Historic Places.[3][4]

Hotel

The Hotel Division operates 19 hotels of various brands, including Marriott International, Hilton Hotels, Best Western, and InterContinental Hotels Group (IHG). The B. F. Saul Hotel Division features full service, select service, and extended stay hotels in three areas of the United States, including:

Washington, D.C. Metropolitan Area

Detroit, Michigan

Boca Raton and Fort Lauderdale, Florida

B. F. Saul also owns and manages Washington, D.C.’s famous Hay-Adams Hotel, a small, luxury downtown hotel that overlooks the White House. During the summer of 2010, the Hay-Adams temporarily closed to undergo renovations. These renovations included elevator improvements and the addition of a glass-enclosed rooftop to allow for year-round events.[5]

Awards

Several of the B. F. Saul Company hotels are award-winning properties. The B. F. Saul Company Hotel Division was the first company to win Marriott International’s new “Spirit to Preserve” Award, an award dedicated to franchises that implement green practices.[6][7] In 2008, the Crowne Plaza Auburn Hills won the IHG Torchbearer’s Award, an award that recognizes the top three percent of Crowne Plaza hotels in North America.[8][9] The following year, the Crowne Plaza National Airport won the Torchbearer's Award, as well.[10][11] In 2009, B. F. Saul Company won the Hercules Award from Helios HR for employee development and lack of turnover despite trying economic times and the Virginia Hospitality and Travel Association recognized many of B. F. Saul’s Hotel Division team members with Outstanding Industry Awards that same year.[12][13] The Holiday Inn Dulles Airport won WeddingWire’s 2010 Bride’s Choice Award, an award that “recognizes and celebrates excellence in quality and service within the wedding industry.”[14][15]

Office and Industrial Leasing

This division is responsible for managing, marketing, and leasing over three million square feet of flexible space owned by B. F. Saul Company. While most properties are in the Washington, D.C. area, B. F. Saul oversees several properties in Atlanta, Georgia, as well.

B. F. Saul Insurance

The B. F. Saul Insurance Agency is a property and casualty insurance broker for over 100 years. From its headquarters in Bethesda, Maryland, the agency represents many leading insurance carriers and is licensed in more than 25 states.

Construction and Development

This division works with every facet of the Company to continue its development.

References

  1. ↑ "Great Places to Work: Just Like Family - Work & Education". washingtonian.com. Archived from the original on 14 June 2011. Retrieved 2011-05-25.
  2. ↑ Goldfarb, Zachary A.; Appelbaum, Binyamin (2008-12-04). "Capital One to Buy Chevy Chase". washingtonpost.com. Retrieved 2011-05-25.
  3. ↑ "The Kennedy-Warren". ADSW. Archived from the original on 18 May 2011. Retrieved 2011-05-25.
  4. ↑ Strasberg, Hadiya. "Palladio Awards 2006: Hartman-Cox Architects LLP; The Kennedy-Warren, Washington, DC". Period-homes.com. Archived from the original on 2011-07-15. Retrieved 2011-05-25.
  5. ↑ "Downtown Washington DC Luxury Hotels | Hay-Adams | Boutique Historic Hotels near White House". Hay-Adams. Archived from the original on 1 May 2011. Retrieved 2011-05-25.
  6. ↑ "B. F. Saul Company - Hotel Division Wins Marriott International's 'Spirit to Preserve' Award for Environmental Initiatives - Business News". redOrbit. Retrieved 2011-05-25.
  7. ↑ "Environmentally sustainable hotels | B. F. Saul green hotel awards". Our Big Green. Archived from the original on 2011-07-15. Retrieved 2011-05-25.
  8. ↑
  9. ↑ "AUBURN HILLS Hotels - Crowne Plaza Hotels & Resorts AUBURN HILLS Hotel in AUBURN HILLS | Book Direct for Best Rates". Ichotelsgroup.com. Retrieved 2011-05-25.
  10. ↑ "New Press Releases and CSR News". The Earth Times. Retrieved 2011-05-25.
  11. ↑ "ARLINGTON Hotels - Crowne Plaza Hotels & Resorts WASHINGTON NATL AIRPORT Hotel in ARLINGTON | Book Direct for Best Rates". Ichotelsgroup.com. Retrieved 2011-05-25.
  12. ↑ https://web.archive.org/web/20090321003037/http://www.helioshr.com/Apollo-Past-Winners-2009.php. Archived from the original on March 21, 2009. Retrieved September 1, 2010. Missing or empty |title= (help)
  13. ↑ "Virginia Hospitality and Travel Association: 2009 VHTA Annual Awards". Vhta.org. Retrieved 2011-05-25.
  14. ↑ "WeddingWire to Announce 2010 Bride’s Choice Awards™". Webwire.com. 2010-01-19. Retrieved 2011-05-25.
  15. ↑ "Holiday Inn Washington Dulles, Wedding Venue, District Of Columbia - Washington DC, Maryland, Northern Virginia, and surrounding areas". Weddingwire.com. 2009-05-30. Retrieved 2011-05-25.
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