ATLANTA, Ga.—Hospitality Ventures Management Group (HVMG), a privately owned hotel ownership and management company based in Atlanta, has announced that it has retained the management contract for the AAA four-diamond The Shores Resort and Spa in Daytona Beach Shores, Fla., after it was purchased recently by New York-based Garrison Investment Group. The 212-room resort has been in HVMG’s management portfolio since 2009. HVMG played an active role in assisting with the sale and closing of the transaction.
The Shores Resort and Spa represents the third upscale property HVMG manages for Garrison Investment Group. Earlier this year, Garrison purchased the Hilton Houston Southwest from HVMG and retained HVMG to manage the property. HVMG manages 41 hotels throughout the United States and a total of seven hotels in Florida, including six independent resorts.
“Entering this new management chapter with Garrison as the owner of The Shores is an exciting opportunity to expand our partnership with them and enhance the resort’s standing as one of the top luxury properties along Florida’s east coast,” said Robert Cole, HVMG president and CEO.
“HVMG brought us an excellent investment opportunity that was made all-the-more attractive by being able to keep its proven and successful management team in place,” said Chuck Pomerantz, managing director of Garrison Investment Group.