WACO, Texas — Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership, and management company, recently announced it was awarded management of the currently under-construction, 104-room Residence Inn by Marriott Waco/South in Texas. Owned by Heritage Hospitality Group, a hospitality ownership/development/construction management company, the hotel is expected to open in mid-July 2020.
“The Residence Inn by Marriott Waco/South marks our fifth hotel in Texas and our 20th Marriott-branded property,” said Robert Cole, president and CEO, HVMG. “Our familiarity with both the market and the brand will allow us to ramp up quickly as the hotel begins its run towards segment leadership for guests looking for a little more space. Additionally, our ability to create economies of scale and share best practices will benefit the hotel’s profitability and guest satisfaction scores.”
Located at 2424 Marketplace Drive, the four-story hotel is near Hillcrest Baptist Medical Center, Baylor University, and multiple corporate entities, and situated within the Central Texas Market Place development. The open-air shopping center has more than 60 retail and dining options. Hotel amenities will include a half-sport court, outdoor pool, outdoor patio, meeting room, and fitness facility.
Designed for long stays, the brand will offer suites with separate living, working, and sleeping zones. Additional amenities include fully functional kitchens, complimentary grocery delivery service, 24-hour markets, and complimentary breakfast.
Hiren “Chico” Patel, CEO, founder and managing principal, Heritage Hospitality Group, added, “Waco is one of Texas’ hidden gems, with more than 1.7 million visitors in the first seven months of 2018 alone. With HVMG at the helm, the Residence Inn quickly will exceed the expectations of guests to this charming town.”