ATLANTA–-Hospitality Ventures Management Group (HVMG), an Atlanta-based, private hotel investment, ownership and management company, today announced it has sold the 261-suite Embassy Suites by Hilton Atlanta – Galleria to an unaffiliated third party and retained management of the property.
“Having owned and operated the Embassy Suites by Hilton Atlanta – Galleria for the past three years along with several other Embassy Suites hotels, we are intimately familiar with both the marketplace and the brand and how to maximize its value,” said Robert S. Cole, president and CEO, HVMG. “With our home base and four additional hotels in the city, Atlanta is a strategic location for our company. We have the market intelligence and operational economies of scale to maximize hotel profits and deliver investor return."
As Project Manager, HVMG successfully oversaw the recently completed $11.65 million renovation of the hotel. The refurbishment included a total reconfiguration of the atrium & lobby, including a new art work installation and a new dining outlet called E’terie, improved and expanded meeting and gathering space, complete guest room and bathroom renovations, upgraded amenities and exterior improvements. Under HVMG’s stewardship, the hotel’s revenue increased from $10 million to $13.4 million, raised net operating income by 107 percent and improved ADR by 27 percent.
Situated in northwest Atlanta's Galleria district and within walking distance of the Cobb Galleria Centre, Cobb Energy Performing Arts Centre and Atlanta Galleria Office Park, the Embassy Suites Atlanta- Galleria also is convenient to local businesses such as Home Depot, Coca-Cola, IBM, Lockheed and Travelport. The hotel provides a complimentary shuttle within a three-mile radius that runs to numerous corporate offices, shopping malls, restaurants, theaters and SunTrust Park – home to the Atlanta Braves.
Each two-room suite contains a separate living room, refrigerator, microwave and complimentary Wi-Fi. Guest amenities include courtesy, made-to-order breakfast and evening manager’s reception, fitness center, indoor pool and hot tub. The hotel also houses E’terie, a gourmet market experience featuring food that is fresh, flavorful and delivered quickly. The hotel also has meeting/function space to accommodate up to 200 guests and a BusinessLink™ Business Center, complete with A/V equipment rental, faxing, copying and printing.