ATLANTA — Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership, and management company, announced it is on pace for a record growth year in 2018, having completed the acquisition of 16 hotels year to date, plus one third-party management contract totaling 2,412 rooms nationwide.
“Through a series of strategic partnerships and joint ventures, HVMG has targeted and acquired premium branded, high-quality assets with value-add potential in strong markets such as Atlanta, Austin, Dallas, San Francisco area, and Indianapolis,” says Robert S. Cole, president and CEO, HVMG. “All 16 hotels fall under the Marriott, Hilton, and Hyatt family of brands. Our portfolio has increased more than 40 percent to date.”
HVMG has also added several new key senior level executives, including Cody Feaster, regional vice-president operations, Suzanne Saunders, vice-president of design & construction, Sam Woodworth, director of acquisitions and business development, and Andy Wardner, director of acquisitions and financial analysis, to help facilitate growth.
Cole also notes that hotels in HVMG’s portfolio since January 2018 (excluding the three under major renovation) have achieved a same-store total RevPAR increase of 7.7 percent YTD, with an increase in market share of nearly 6 percent. “In addition, the average NOI improvement of the 33 hotels sold that we acquired or took over management since 2009 is 109 percent, with the average hold period being 37 months,” Cole adds.