Newport Beach, CA – Twenty Four Seven Hotels, a leading U.S.-based hospitality management company, has attained a new contract for management services in Las Vegas, Nevada. New to the Twenty Four Seven list of managed hotels is the Fairfield Inn by Marriott Las Vegas Airport, bringing their overall Marriott collection to thirteen managed hotels and adding 128 rooms to the company's entire portfolio.
The property will operate as a Marriott franchise, owned by Umbrella Hotel Group and Ways Hospitality. Twenty Four Seven Hotels played a pivotal role providing guidance to the buyer on the transactional side with sourcing, underwriting and acquiring the hotel as a part of its service offering to clients.
"The addition of the Fairfield Inn hotel to our portfolio rounds out our expertise and representation of Marriott's (CFRST) select-service brands. This increases our Marriott managed portfolio to thirteen and strengthens our collaborative relationship with the brand," said David Wani, chief executive officer of Twenty Four Seven Hotels. "We are strong advocates of the Fairfield Inn brand and believe it is one of the most viable franchise opportunities available to leverage from within Marriott's CFRST collection."
The Fairfield Inn is the third hotel in the Las Vegas market for Twenty Four Seven Hotels, currently operating a dual campus property just fifteen minutes from the Las Vegas Strip, which includes SpringHill Suites and TownePlace Suites Las Vegas Henderson. It also marks their fifth hotel in the Southwestern region of the United States.
With nearly 1000 square feet of meeting space, the hotel is frequently booked as an attractive, cost-effective, centrally located option for small business meetings away from the hustle and bustle of a casino environment. Some of the amenities of the bright, casual rooms include: free WiFi, desks, flat-screen TVs with premium cable channels, microwaves, mini refrigerators and coffeemakers. Upgraded rooms include pull-out sofas.
In addition, Twenty Four Seven Hotels leverages the Uber for Business platform to provide transportation as a favorable service over on-site shuttles and taxi services at all of its airport properties.
"Expanding our partnership with Twenty Four Seven Hotels in this market makes sense strategically" explains Ravi Gupta, from Ways Hospitality. "With their dedicated regional leadership team and proven revenue performance in the southwest, we stand to experience a seamless transition for this asset."
Notable highlights of the market fueling the acquisition of the hotel include: the location is just two miles from the Las Vegas Strip, including the Fremont Street Experience; the 20,000-seat T-Mobile Arena; the addition of the National Hockey League's Las Vegas Golden Knights; and the National Football League's Las Vegas Raiders, along with the 65,000-seat NFL stadium, anticipated to be completed in time for the 2020 NFL season. The outlook for the market area is positive as the Southern Nevada economy remains largely dependent on the leisure and hospitality industry.
About Umbrella Hotel Group
Over the years, the Goyal family has operated and managed a diverse platform of business investments out of a family office in Northern California, including a large focus in petroleum retail and distribution operations under license with Shell Oil and Chevron companies. Hotel assets are a primary focus of their real estate investment portfolio, which focuses on premium flagged, value-add opportunities in key markets throughout the western U.S.
About Ways Hospitality
Ways Hospitality is a flourishing group derived from years of retail sales in the fueling industry. Built on years of slow and steady growth, Ways has built a portfolio of products throughout the Western states focusing on mid-tier properties in large markets.
About Twenty Four Seven Hotels
Twenty Four Seven Hotels is a third-party management company that delivers highly specialized services in hotel operations, investment and development. Founded in 2004, the company specializes in the premium brand select-service & lifestyle segments. The company partners with premium hospitality brands including Marriott, Hilton, Hyatt, IHG and Choice. Twenty Four Seven Hotel's current portfolio includes 25 hotels in four states with approximately 3,200 rooms. For more information on Twenty Four Seven Hotels, visit www.247hotels.com.
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