ATLANTA—Hospitality Ventures Management Group (HVMG) announced that it added 16 hotels to its nationwide portfolio, bringing it to a total of 56 hotels with approximately 9,000 total rooms under management.
“Thanks to the hard work of our team, in terms of number of transactions, 2021 was the best year in our company history,” said Robert S. Cole, president and CEO, HVMG. “While headwinds do remain for our industry, particularly for hotels heavily reliant on corporate and group business, our results continue to outperform the industry. The light at the end of the tunnel is more evident than it has been over the past 21 months. With a total GOP Margin of 36.9 percent (versus the industry average per STR of 32.8 percent), our portfolio outperformed the industry by more than 400 basis points. Our full-service hotels outperformed the rest of the industry by 600 bps. We look to ride this momentum through 2022, thanks to all of the heroes in the field and our corporate office.”
HVMG also received Marriott’s Partnership Circle Award in 2021, presented by Marriott in recognition to the full-service owner and franchise partners at its most recent annual MINA Conference. Only two companies received the award in 2021, the award honors companies who embrace Marriott’s vision and values, invest in their hotels, and provide outstanding guest service.
“All the success HVMG has recently experienced is a direct result of the excellent associates who are juggling so much right now,” Cole added. “This award is theirs, and I am continually humbled by how lucky I am to have such a great team.”
“In 2022, we will continue to focus on growing our portfolio with owners and partners who share the same vision we have for operating hotels and want their management partners driving RevPAR performance and flowing it to the bottom line,” Cole noted. “Additionally, our track record as an operator and investor is a valuable asset to our partners, and we expect to be active in deploying capital in acquisition and investment opportunities.”