ATLANTA—Hospitality Ventures Management Group has inked several hotel management contracts to kick off 2012 as the company moves toward its goal of doubling its portfolio.
HVMG has 34 assets in its management portfolio, said Mary Beth Cutshall, VP of acquisitions and business development. HVMG owns approximately 40% of the portfolio.
The company most recently was awarded management of the 120-room Hilton Garden Inn St. Charles and the 122-room Holiday Inn Express Chicago-St. Charles earlier this month, located in St. Charles, Illinois. Another as yet undisclosed agreement is expected to be signed 1 March, Cutshall said.
In addition, HVMG was awarded third-party management of the 103-room Hampton Inn & Suites Pittsburgh-Meadow Lands in Washington, Pennsylvania, and the 113-room Homewood Suites by Hilton Pittsburgh-Southpointe in Canonsburg, Pennsylvania.
HVMG’s management profile
Cutshall outlined what HVMG looks for in taking on management contracts.
The company’s niche, Cutshall said, is in full-service hotels between 100 rooms and 250 rooms and containing 20,000 square feet of meeting space. Of the company’s portfolio, 75% of the hotels are branded under flags from Marriott International and Hilton Worldwide. The company also has some select-service and extended-stay properties under its umbrella, including The Shores Resort & Spa, a 212-room AAA Four Diamond property in Daytona Shores, Florida.
HVMG properties are located across the U.S., stretching from Portland, Maine, to Monterrey, California.
HVMG is focused on the U.S. market now, though Cutshall hinted that could change someday. “There could be bigger goals down the road,” Cutshall said of expanding the company’s business internationally. She added, “But there are so many opportunities in our own backyard.”
HVMG also has a reputation as a turnaround specialist, she said. The recent downturn has provided the company with plenty of management opportunities.
“You see what’s going on when the tide goes down,” Cutshall said. Upon taking management of a distressed property, she said HVMG looks at each line item in trying to figure out ways to maximize the business, including analyzing staffing levels and expense margins.
Contact:
Hospitality Ventures Management Group
Phone: (404) 467-9299
Email: info@hvmg.com