 |
| Mobeen Jassat |
ATLANTA,
GA —Hospitality Ventures Management Group (HVMG), an Atlanta-based,
private hotel investment, ownership and management company, in conjunction with
Investra Capital Group Ltd through its subsidiary Investra Capital Inc, a
private equity real estate investor and asset manager, announced the completed
joint venture acquisition of a 12-hotel portfolio totaling 1,465 rooms
comprised of Marriott- and Hyatt-branded hotels across the Southeastern,
Southwestern and Midwestern United States. HVMG also will operate the
entire portfolio.
“As we grow our footprint into the U.S., our
acquisition philosophy aligns with HVMG’s, as we both remain focused on assets
in strong secondary and tertiary markets flanked by strong corporate,
government, healthcare and university demand generators,” said Mobeen
Jassat, Investra Capital Inc, CEO.
“With
their successful industry track record in maximizing asset value and seasoned
acquisition and operation expertise, we are confident HVMG will act as the
ideal stewards of these hotels as they quickly achieve improved performance as
the respective segment leaders in each sub-market.”
 |
| Zaid Randeree |
“The acquisition of these 12 assets brings
Investra’s portfolio to a total of 20 hospitality assets across the U.S. since
its initial acquisition in 2014,” said Zaid Randeree, Investra Capital
Group Limited, CEO.
“This also is in line with Investra’s strategy of steady, focused acquisition and growth of assets in the select service hospitality sector across the USA.”
“This also is in line with Investra’s strategy of steady, focused acquisition and growth of assets in the select service hospitality sector across the USA.”
“In the first few months of 2018, HVMG has added
16 hotels totaling 2,611 rooms to its portfolio of full- and select-service and
extended-stay hotels across the United States, putting us on track for an
historic growth year,” said Robert S. Cole, president and CEO,
HVMG.
 |
| Robert S. Cole |
The
hotels include:
Name
|
Location
|
Room Count
|
Courtyard
Atlanta Marietta I-75 North
|
Marietta, Ga.
|
146
|
Courtyard
Atlanta Norcross Peachtree Corners
|
Norcross, Ga.
|
131
|
Courtyard
Atlanta Marietta Windy Hill/Ballpark
|
Atlanta, Ga.
|
127
|
Courtyard
Austin University
|
Austin, Texas
|
198
|
Fairfield Inn
& Suites Austin University
|
Austin, Texas
|
63
|
Courtyard
Dallas Addison Midway
|
Addison, Texas
|
145
|
Hyatt House
Dallas Richardson
|
Richardson,
Texas
|
130
|
Courtyard
Grand Rapids Airport
|
Grand Rapids,
Mich.
|
84
|
Courtyard
Detroit Southfield
|
Southfield,
Mich.
|
147
|
Fairfield Inn
& Suites Indianapolis Airport
|
Indianapolis,
Ind.
|
86
|
Residence Inn
Indianapolis Airport
|
Indianapolis,
Ind.
|
95
|
Courtyard
Cleveland Beachwood
|
Beachwood,
Ohio
|
113
|
“With these additional 12 assets, our portfolio
now contains a combined total of 25 Marriott- and Hyatt-flagged hotels across
the United States,” Cole noted. “We are very familiar with each of these
brands, as well as the unique demands of each of the regions and traveler
types, allowing us to improve bottom lines and guest satisfaction scores
expeditiously.”
For more information,
please contact:
CHRIS DALY
PRESIDENT
DALY GRAY PUBLIC RELATIONS, INC.
620 Herndon Parkway, Suite 115 | Herndon, VA 20170
Main: 703-435-6293
Mobile: 703-864-5553
