|Economos Properties was founded in 1969 in the state of Virginia by Nick Economos who serves as the company Chairman and owner. Mr. Economos was involved in community and professional activities throughout his twenty year residence in the Tidewater Area. A political science major, he graduated from Old Dominion University in Norfolk, Virginia. Additionally, he completed various courses in Hotel and Motel Law and Management through the Education Institute of the American Hotel and Motel Association. Since 1992 he has been residing in Boca Raton, Florida and is active in the development of hotels in the Florida market.
Mr. Economos moved to Virginia in 1969 and purchased a 23-unit apartment complex. Over the next thirteen years he acquired ten additional motels and developed the E&W restaurant chain. In 1985 Mr. Economos developed the 169 room Omni Hotel in Virginia Beach, Virginia and, in 1989, the 183 room Omni Hotel in Newport News, Virginia. In the early 1990s he developed a 210 single unit housing development in Newport News, Virginia and two Howard Johnson Inn properties totaling 215 rooms.
Since moving to Florida in 1992, Mr. Economos has developed a number of projects. He built the 79 room Hampton Inn & Suites in Islamorada, Florida in 1996. In conjunction with the Islamorada project, he became a joint-venture partner of Outback Steakhouse and developed an Outback Steakhouse restaurant at the hotel site. In 2000, Mr. Economos purchased a Bank of America office building in Boca Raton, Florida to use as his corporate headquarters
Mr. Economos completed two development projects in early 2004, a 156 room Hilton Garden Inn near the Ft. Lauderdale airport and a 263 room Courtyard by Marriott in Miami Beach, Florida. In late 2004, Mr. Economos completed the development of a Carrabba’s Italian Grill located in the Courtyard by Marriott. In 2006, Mr. Economos completed the development of an 8,000 square foot retail strip center in Boca Raton, Florida anchored by Cold Stone Creamery, Quiznos Subs and Sprint/Nextel. In 2007, Mr. Economos began development of a 219 room Hilton Garden Inn in downtown Miami just off Brickell Avenue. In late 2008, Mr. Economos completed the development of a 189 room Hilton Garden Inn and a 124 room Homewood Suites by Hilton near the Miami airport. In late 2009, Mr. Economos completed the development of a 124 room Homewood Suites by Hilton and a 157 room Fairfield Inn & Suites by Marriott near the Ft. Lauderdale airport.
Since 1969, Nick Economos has led Economos Properties in developing projects valued in excess of $500 million, including twenty-five hotels, twenty restaurants and a number of condominium, office, retail and apartment projects.