Strand Hospitality Services Launches 50th Anniversary Celebration: Expects to Grow by 70 Percent within Next Two Years

John Pharr

 Myrtle Beach, SC, Aug. 26, 2019 -- Strand Hospitality Services announced today that it has launched a year-long celebration of its 50^th anniversary as a hotel operator/owner/developer.

Strand officials said that they expect the company to grow from 30 opened hotels to at least 50 properties by 2021.

The company is working with several investment groups on 15 development projects and expects to open at least five new hotels in 2019 and the remainder in 2020 and 2021. 

Jay Keller

 Strand’s parent company is a joint venture owner in several of the properties that currently are being developed.

The company is providing development assistance, help in arranging financing and pre-opening services for all the hotels. 

The under construction/development properties are in Florida, N.C., S.C.  and Texas and include the Marriott, Hilton, IHG and Cambria franchise flags. 

The company also anticipates adding a select number of third-party management contracts annually. 

               

“Strand’s success revolves around embracing change and building strong, long-term relationships,’” said John Pharr, Strand president. “Over our five-decade history, we’ve developed, owned, joint-ventured, third-party managed and acted as special servicer for more than 350 hotels.  In the end, it’s all about trust and creating win-win situations.” 

Rounding out the senior management team is Jay Keller, chief operating officer, a 30-plus-year hotelier who has been with Strand for more than a decade.  

John Johnson

John Johnson, a 22-year Strand veteran, is chief financial officer and is responsible for all aspects of financial and administrative management at all Strand properties.

Andrew J. Pace, with more than two decades of real estate and hotel experience, is senior vice president and is responsible for building relationships with current and future investors and owners. 

Pharr said the company’s longevity is a result of sticking to five unbendable core values, but otherwise reinventing itself annually, based on emerging trends it foresees over the next five to 10 years. 

“Not many companies remain in business for five decades, and we are fortunate to reach that milestone,” he said.  “We’re already looking out 50 years so we can celebrate our centennial.

“Our business model today focuses on building relationships with investment groups to develop and manage high quality, full- and focused-service, premium-branded hotels, while adding a select number of third-party management contracts.  

"When appropriate, we prefer to co-invest with owners,” he noted.  “Strand has a long history with Hilton and IHG brands and has been aggressively developing Marriott-branded hotels the past five years.”

Andrew J. Pace

Pharr pointed out that the industry is in the longest sustained growth period in the last 50 years, but that Strand is prepared to turn on a dime to respond to unforeseen positive and negative changes in the hotel economy.

“While we certainly haven’t seen it all, we’ve been involved in just about every aspect of hotels over the past five major hotel cycles.  Change is the only constant.”

Getting into the Business

Strand is a division of Pharr, a family of companies covering multiple industries, that  was formed in 1939 after acquiring the bankrupt mill town, McAdenville, N.C., which consisted of shuttered textile plants, 400-plus homes and extensive real estate.  

 CONTACTS:

Chris Daly
 chris@dalygray.com

www.strandhospitality.com
apace@strandhospitality.com.