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HVMG in Marriott Deal
HVMG has gotten a management deal for a TownePlace Suites by Marriott, its 7th of the year.
Wednesday, November 21, 2012
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Hospitality Ventures Management Group (HVMG), a privately owned hotel ownership and management firm headquartered in Atlanta, today announced that it has assumed management of the 78-suite TownPlace Suites by Marriott Bentonville Rogers located at 3100 SE 14th Street in Bentonville, Arkansas. HVMG now manages 39 hotels including 9 Marriott-branded properties.
“Based on our track record as turn-around specialists and our team’s extensive experience managing Marriott-branded properties, we are confident the TownePlace Suites by Marriott Bentonville Rogers will be highly successful under our management,” says HVMG President & CEO Robert Cole.
HVMG has more than doubled the size of its portfolio since the beginning of 2010. It added eight hotels to its portfolio in 2011 (a 36% growth rate) and has added seven hotels and two conference centers thus far in 2012. In 2010, HVMG added seven hotels (a 33% growth rate).
The TownePlace Suites by Marriott Bentonville Rogers is conveniently located along I-540, just minutes from the Wal-Mart Stores World Headquarters and the Northwest Arkansas Regional Airport.
Newly renovated suites feature larger work spaces, fully equipped kitchen, and added storage with a modern flare. It offers a host of amenities for both business and leisure travelers, including complimentary continental breakfast, high-speed Internet access, indoor pool and fitness center. A 24-hour business center, conference space and complimentary parking also are offered.
About Hospitality Ventures Management Group
Ranked among Atlanta’s Top 10 Fastest Growing Private Companies by the Atlanta Business Chronicle in 2012, Hospitality Ventures Management Group is a privately owned, fully-integrated hotel ownership and management group that specializes in turning around and repositioning underperforming hotels. The firm currently owns and/or operates 38 hotels in 16 states (coast to coast) totaling more than 6,800 guest rooms. Total portfolio revenue exceeds $185 million and 28 of the hotels operate under Hilton or Marriott franchise agreements. Visit www.hvmg.com for more information.
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