ATLANTA--(BUSINESS WIRE)--Dec 4, 2024--
Hospitality Ventures Management Group (HVMG), an Atlanta-based third-party hotel operator and investor, today announced that the company added eight new hotels to its portfolio in 2024, bringing the total number of properties it holds to 51. The new additions include a mix of Marriott and Hilton branded hotels covering lifestyle, select-service, full-service and extended-stay categories. 2024 was a stellar year for HVMG, as the company continued to grow its portfolio-wide RevPAR Index for the fourth consecutive year and nine of the past ten years.
“2024 was an outstanding year for HVMG, adding nearly 1,200 new rooms to our nationwide portfolio,” said Robert Cole, president and CEO, HVMG. “Simultaneously, we were able to achieve portfolio-wide RevPAR Index growth for the fourth consecutive year, marking RevPAR Index growth for nine out of the past ten years. Over the trailing 12 months alone, this growth has delivered more than $60 million in additional asset value for owners when you factor in our portfolio average flow-through.”
In addition to impressive growth, the company, which derives 70% of its revenue from full-service hotels, also received strong marks for its internal culture work environment. For the sixth year in a row, HVMG placed in the top 20 of the Atlanta Journal-Constitution’s Atlanta’s Top Workplaces 2024. The company was recognized out of more than 8,000 applicants, with results based on third-party associate surveys.
“Our focus on developing and recruiting excellent talent through programs like our Talent Acquisition Center of Excellence (TACOE) and XLR8 leadership development program continues to pay dividends,” Cole noted. “We strongly believe that our associate satisfaction leads to premium financial returns for our partners. This award is a testament to the ‘Be Excellent’ culture our teams have instilled, and I am incredibly proud of what they have accomplished.”
About Hospitality Ventures Management Group
Hospitality Ventures Management Group is a privately owned, fully integrated hotel management and investment group that specializes in turning around and repositioning underperforming hotels, as well as maximizing the performance of stabilized hotels. HVMG currently operates 51 properties and one convention center in 17 states totaling more than 8,700 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, Hyatt, Hard Rock, and IHG brands. Visit www.hvmg.com for more information.
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KEYWORD: GEORGIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: OTHER TRAVEL COMMERCIAL BUILDING & REAL ESTATE VACATION LODGING CONSTRUCTION & PROPERTY DESTINATIONS TRAVEL
SOURCE: Hospitality Ventures Management Group
Copyright Business Wire 2024.
PUB: 12/04/2024 08:55 AM/DISC: 12/04/2024 08:55 AM
http://www.businesswire.com/news/home/20241204533397/en
