CresCom Bank and the College of Charleston’s Department of Hospitality and Tourism Management Name Recipients of Annual Hospitality Business Plan Competition
June 1, 2015
CHARLESTON, SC – CresCom Bank, in conjunction with the College of Charleston’s Department of Hospitality and Tourism Management (HTMT), have selected four winning teams from its annual Hospitality Business Plan competition.
The annual competition allows College of Charleston students the opportunity to showcase principles of economics, finance, marketing, service operations, statistics, accounting, and hospitality and tourism management as part of their senior capstone business-plan project for the HTMT Department.
Students are required to present their plans to industry experts posing as potential investors in three sessions, where the quality of their business plans, services and sample products are evaluated.
This semester, 14 plans were presented to more than 20 industry experts in mid April.
CresCom Bank, which owns and operates 26 community banks throughout the Carolinas, provides the top-three student groups with a $1,500 grant to pursue their business plan, as well as financial experts to assist with next steps. This year, there was a three-way tie for the “Runner Up” category; so, this year, four student groups received the $1,500 grant reward instead of the usual three student groups.
Winners of this year’s Hospitality Business Plan competition include:
First Place
“Up-Town Market” (A startup restaurant incubator marketplace)
- Ginger Bauer
- Christy Campli
- Mary Siemon
- Jake Alexander
Runner Up
“The Rink” (A rolling skating rink)
- Ashley Konkle
- Elizabeth Simmons
- Amanda Jones
- Beth VanDorpe
Runner Up
“The Juice Boost” (A juice and smoothie restaurant)
- Daniel Barman
- Stephanie Sykora
- Taylor Barry
- Chaisson Dangerfield
Runner Up
“BBQ Party Boat” (Catered boat rentals)
- Charlotte Simmons
- Graham Massell
- Charlie Linder
- Karly Wiechec
Students were selected based on industry experts’ ratings from the three sessions of presentations.
“Our students are very fortunate to have the support of CresCom Bank, a community bank that truly is invested in the betterment of our community,” said Dr. Robert E. Frash, Jr., associate professor and chair of the Department of Hospitality and Tourism Management, College of Charleston, School of Business.
“We’re very pleased to be able to recognize four groups of outstanding College of Charleston seniors for their hard work and insightful business plans,” said David L. Morrow, CEO of CresCom Bank. “In partnership with the Department of Hospitality and Tourism Management, we are able to help bring real-life scenarios and expertise to students entering the workforce, as well as provide them with financial assistance to make their business plans come to life. This capstone project is invaluable and we look forward to its continuation.”
For additional information about CresCom Bank or to locate a local branch, visit www.haveanicebank.com.
About CresCom Bank
CresCom Bank, a leader in community banking, is dedicated to providing exceptional customer service and quality products to the communities it calls home, and prides itself on its strong knowledge of local business and economic trends. Currently, CresCom Bank has 26 branch locations throughout the Carolinas, in addition to loan production offices in Wilmington, N.C., and Greenville, S.C. Currently, CresCom Bank also owns and operates Crescent Mortgage Company which lends in 45 states, partners with 2,000 community banks, credit unions and mortgage brokers, and offers access to various loan programs. In 2014, the bank’s parent-holding company, Carolina Financial Corporation (NASDAQ: CARO) ranked #6 on American Banker’s list of “Top 200 Community Banks and Thrifts as Ranked by Three-Year Average ROE.” It was also added to the Nasdaq Community Bank Index (ABAQ) by the American Banker’s Association. As of March 31, 2015, Carolina Financial Corporation had approximately $1.3 billion in total assets.
To learn more about CresCom Bank, visit www.haveanicebank or call 1-855-CRESCOM. Stay current on bank news and happenings on social media: www.facebook.com/CresComBank and www.twitter.com/CresComBank.
