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HHM In Largest Addition in Company History
The former Hersha Hospitality now manages 115 properties across the United States.
Tuesday, September 25, 2012
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Everything, including HHM, is bigger in Texas. The company announced today that it has assumed management of 23 newly built hotels in Texas, Oklahoma and Arkansas. The hotels have an average age of only four years and feature Marriott, Hilton and IHG flags. This addition marks a 25 percent increase in HHM’s portfolio.
HHM worked with Starwood Capital Group (SCG), a privately held global investment firm, through all aspects of the transaction and will deploy further investment capital in the form of property improvement plans.
“Texas is one of the most stable and fastest growing economic regions in our country. Not only is this a strategic time for HHM to enter the Southwest, but the opportunity also represents increased diversification of clients and meets our geographic growth plan,” said Naveen P. Kakarla, president and CEO of HHM. “HHM now manages, asset manages or serves as receiver for 115 luxury, upper-upscale, upscale and mid-scale branded and independent hotels in major metropolitan markets across 17 different states.”
“The company is thrilled to welcome these hotels and their team members to HHM, and has added a regional infrastructure to support continued growth in the region,” Mike Murray, COO of HHM said. “We are looking forward to an integration of brain power and resources over the next few months to solidify our presence in the Southwest.”
For more information about HHM or working at an HHM hotel, visit hhmhospitality.com or call 215.238.1046.
About HHM
HHM, formerly known as Hersha Hospitality Management, operates 115 hotels across the United States. It provides turnkey hotel management, asset management and receivership for properties with leading brand affiliations through Marriott, Hilton, Hyatt, Starwood, and Intercontinental Hotel Group. HHM also operates 14 independent hotels ranging from the AAA Five Diamond Rittenhouse Hotel in Philadelphia, to the oceanfront Postcard Inn in the Florida Keys. Its highly experienced team is accustomed to serving as a fiduciary to publicly traded companies, joint ventures, institutional real estate owners and private investors. Additional information on HHM can be found at hhmhospitality.com.
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