Hospitality Ventures Management Group (HVMG) Awarded Hyatt North Houston Management Agreement
Sharp Growth Trajectory Planned for 2015
Coming off the heels of industry leading RevPAR growth in 2014, Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel ownership and management company, today announced that it has been selected to operate the 335-room Hyatt North Houston. The hotel also has 27,000 square feet of meeting space.
"This is our third hotel in Texas, as well as our fourth full-service Hyatt, which will allow the Hyatt North Houston to immediately benefit from economies of scale and shared best practices," said Robert S. Cole, HVMG president and CEO. "Following the implementation of our proprietary sales, marketing, and revenue management systems, we are confident that the Hyatt North Houston will become the preferred destination for upper upscale business and leisure travelers to the area."
The Hyatt North Houston is HVMG's second deal of 2015 and expands its managed portfolio to 39 hotels and 7,529 rooms in 15 states nationwide. Four additional properties are targeted to close in the next month, marking a period of record growth for the company.
"In 2014, we set the stage for an aggressive, nationwide growth strategy and continue to have a substantial appetite for third-party management contracts, as well as acquisition opportunities," Cole added. "Our operation is scaled for growth and poised to take advantage of this phase of the cycle."
Located at 425 N. Sam Houston Parkway East in the heart of North Houston, the eight story hotel is near numerous corporate headquarters and retail offerings, George Bush Intercontinental Airport and the Greenspoint business district. Hotel amenities include a fitness facility, tropical-style outdoor swimming pool and spa, business center, gift shop and shuttle service to and from the airport. Additionally, the property has an all-day regional cuisine restaurant, Grill 425, as well as a Starbucks.
About Hospitality Ventures Management Group
Hospitality Ventures Management Group is a privately owned, fully integrated hotel investment and management group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. HVMG currently operates 53 hotels and one convention center in 16 states totaling over 8,500 guest rooms. HVMG operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Marriott, Hilton, Hard Rock, Hyatt and IHG brands. Visit www.hvmg.com for more information.
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