Hospitality Ventures Management Group (HVMG) Assumes Management Of Four-Hotel Portfolio
Hilton- and Marriott-Branded Hotels Located in Atlanta and Durham, N.C.
Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel management and investment company, today announced that it has assumed management of a four-hotel portfolio of Marriott and Hilton branded hotels located in Atlanta and Durham, N.C. Totaling 589 rooms, the additions bring HVMG’s current management portfolio to 48 hotels and convention centers in 17 states, totaling 7,584 guest rooms, with several other under development.
The hotels, which have all been recently constructed are:
“The HVMG team has worked hard to achieve industry-leading Gross Operating Profit Per Available Room (GOPPAR) and Gross Operating Profit (GOP) margins as measured by STR data,” Cole added. “We will implement the same strategies and tactics that will enable these hotels to become top performers.”
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. It currently operates 44 hotels and convention centers in 17 states totaling 6,995 guest rooms. HVMG operates independent and boutique hotels and resorts, as well as full-service, select-service and extended-stay hotels under the Hard Rock, Hilton, Hyatt, Marriott and IHG brands. Visit www.hvmg.com for more information.