Expotel Hospitality Adds The Wyndham Garden Inn – New Orleans Airport To Hotel Management Portfolio
NEW ORLEANS -- Metairie, LA-based Expotel Hospitality, an industry leader in hotel performance and guest experience, announced today that it has assumed management of the Wyndham Garden Inn – New Orleans Airport, in partnership with Conor Acquisitions, Gries Investment Funds, and Gianco Companies.
Wyndham Garden Inn New Orleans Airport is a JV between Conor Acquisitions, Gries Investment Funds, and Gianco Companies as Co-GP's, with all three companies providing asset management and construction management for the most recent $3.2 million renovation expected to be completed in early 4th Quarter. Gries and Gianco have partnered on several real estate ventures and other private equity investments dating back to 2003, but this transaction represents the first JV with new partner Conor Acquisitions, who is credited for finding the asset. Gries Investment Funds is a boutique, family-office style private equity firm based out of Tampa, Florida, and is best known for its Founder Bob Gries, whose family owned the Cleveland Browns. Gianco Companies maintains offices in Tampa and St. Petersburg with a concentration in boutique hotels and niche market mixed-use assets mostly in the Tampa Bay area.
"We are excited to be wrapping up the final phase of the renovation and conversion to Wyndham Garden Inn, and are elated to have Tim Waz and his all-star team back managing the hotel. There's no better group to have in place coming out of the renovations than Expotel. They know the hotel better than anyone, as they managed it prior to us purchasing the asset and have unmatched local expertise in Bret Chittenden and his team on the ground. With most of the common areas complete and only a few floors to go, we are already seeing a great response from returning guests and first-timers," says Gianfilippo, Founder of Gianco Companies.
"We are thrilled to begin a relationship with Conor Acquisitions, Gries Investment Funds, and Gianco to manage this newly renovated Wyndham Garden Inn. We have inherited a great team, a team that is proud of this hotel and committed to outstanding service," said Tim Waz, Expotel's President and Chief Operating Officer. "As this property wraps up the current renovations, we are excited to add a refreshed product back into the market. Our transition team was quick to get right to work and have done an amazing job leading our property based team through the transition."
Gianco Companies is a multi-faceted brand with its main investments in hotels, residential developments, mixed-use assets, technology, finance, and energy. With an Investment Banking background, but Private-Equity based approach, Gianco Companies seeks opportunities in existing niche products or boutique brands as well as new or existing real estate assets. Through complex structured transactions, investments, and acquisitions, the company focuses on employing creative sales and marketing strategies, forward-thinking design and brand creation, and unique market re-positioning to add value to its portfolio. Gianco Companies has been an investor, co-developer, and managing partner to numerous transactions totaling over $200 million in value. Website: www.Gianco.co
About Gries Investment Funds:
Over the past decade, the Gries Investment Funds have demonstrated a disciplined approach to successful investing. We take pride in our ability to protect capital, assess and minimize risk, all the while seeking to maximize returns for our investors.
Our approach is to make sound investments for the long-term benefit of our Investors. Our opportunistic approach allows us to find the best possible investments for our investors, regardless of the industry or geographic location. We strive to develop long-lasting relationships with our borrowers. In providing elements of leadership and experience, we seek to be instrumental in the long-term success of the companies in which we invest.
The Gries Investment Funds are based in Tampa, Florida. The Funds continue to be an active and important element in local economic growth by financing real estate projects, corporations, and professional sports franchises. Website: www.Griesinvestmentfunds.com
About Conor Acquisitions:
Conor Acquisitions is a real estate investment company primarily focused on the hospitality industry. We concentrate on all facets of the hotel industry, including development, construction, renovation, and property analysis. Our experience ranges from urban high-rise branded hotels to boutique properties. Website: http://conoracquisitions.com/
Michael L Miller
Vice President of Sales & Revenue - expotel Hospitality
About Expotel Hospitality Services
Since 2001 Expotel Hospitality has been working with owners and hotels to improve sales and marketing, human resource assistance, revenue management, e-commerce, operational systems, food and beverage, asset enhancement, accounting and purchasing. Expotel Hospitality is a leader among hotel companies based on overall performance related to Profitability, STR Index Results and Guest Satisfaction.