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| 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.”
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| 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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