Monday, June 9, 2014

Hospitality Ventures Management Group Adds 42nd Hotel to Portfolio and Enters Multiple Strategic Partnerships

  
Mary Beth Cutshall

 ATLANTA, GA (June 9, 2014) – Hospitality Ventures Management Group (HVMG), an Atlanta-based, privately owned hotel ownership and management company, today announced that it remains on track to have one of its most successful years on record, having added three more hotels to its portfolio in the last two months and with two strategic partnerships on the horizon that have the potential to substantially increase the company’s portfolio of owned & third-party managed assets in the next two years.

            “While 2014 has been a strong year for most of the hospitality industry, it looks like it could well be the best year since we started in 2001, in terms of growth and diversification,” said Robert Cole, president & CEO of HVMG.

  “Historically, we have been known for our turn-around prowess, and now that we are at the place in the cycle where major repositioning has somewhat subsided, we are expanding into new territories, including new brand segments, and establishing new, best-in-class partnerships.”
  
Robert S. Cole
“With relatively low new product supply and high consumer demand, a growing number of hotels are changing hands, an ideal time for us given our skill set,” said Mary Beth Cutshall, HVMG’s senior vice president of acquisitions and business development. 

“With experts like PKF and STR predicting increased RevPAR well ahead of inflation for the next few years, we firmly believe now is the time to strike and are interested in investments, joint ventures and third-party management opportunities that contribute to our measured growth plan."


“We quietly have gone from a handful of hotels to nearly 50 in less than 7 years, a testament to the team of professionals we’ve been fortunate enough to assemble,” Cole noted.

 “We have a highly diverse group of executives with an average of more than 20 years industry experience each, and our retention rate is one of the highest in the industry.  I credit that to the family atmosphere the team has been able to cultivate.  As excellent as 2014 is already, the future looks even brighter still.”

For a complete copy of the company’s news release, please contact:

Lauralee Dobbins
Daly Gray, Inc.
703-435-6293


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