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| Robert S. Cole |
ATLANTA, GA – Hospitality Ventures Management Group (HVMG),
an Atlanta-based, private hotel ownership and management company, announced that it has completed the acquisition of the 299-room Greensboro-High
Point Airport Marriott for an undisclosed sum.
The company will manage the
hotel, bringing its managed portfolio to 38 hotels and 7,194 rooms in 15 states
nationwide.
“With its
prime airport location and high barriers to new competition, the
Greensboro-High Point Airport Marriott is a perfect fit with our growing
portfolio of owned and managed hotels," said Robert S. Cole, HVMG
president and CEO.
“2014 marks our fourth year of consecutive double-digit
portfolio growth and the single best year in our 14-year history. We continue to have a healthy appetite for
additional hotel acquisitions, new development and third party management and
believe 2015 will present similar opportunities for further growth.”
.JPG) |
| Greensboro-High Point Airport Marriott |
Located
at One Marriott Drive, adjacent to the Piedmont Triad International Airport,
the Greensboro-High Point Airport Marriott, will undergo an $11 million
renovation to update meeting space and guest rooms.
“This
Marriott underwent a renovation of nearly $6 million in 2012,” Cole noted.
“Following the completion of this second
wave, the hotel will be in ‘like-new’ condition and the most recently renovated
full-service hotel in the area, making it the ideal hotel for group business
and corporate transient travelers to the Greensboro area.”
For a complete copy
of the company’s news release, please contact:
Chris Daly
Daly Gray, Inc.
703-435-6293
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