Hospitality Ventures Management Group (HVMG), a privately owned hotel ownership and management company, based in Atlanta, today announced that it has sold the 292-room Hilton Houston Southwest to New York-based Garrison Investment Group. HVMG was retained as manager for the hotel, which has been in HVMG’s management portfolio since 2002.
“We are excited to enter this new management chapter with Garrison as the owners of the Hilton Houston Southwest. Partnering together, I am confident the property will continue to be a top performer in the Houston market,” says Robert Cole, HVMG President & CEO. “Garrison recognized HVMG’s proven operational expertise, hands-on-management style, knowledge of the Houston market, and a track record of maximizing property performance and value.”
“HVMG brought us an excellent off-market investment opportunity that was made all-the-more attractive by being able to keep its proven and successful management team in place,” says Chuck Pomerantz, Managing Director of Garrison Investment Group. “Retaining HVMG to manage the Hilton Houston Southwest was an easy decision given the firm’s proven track record at this hotel and their outstanding industry reputation for maximizing ownership value.”
The Hilton Houston Southwest is conveniently located at 6780 Southwest Freeway, close to the I-610 loop and the popular Houston Galleria and only 10 miles from downtown Houston. The full-service hotel features over 13,000 square feet of flexible meeting space and complimentary local shuttle service.
About Hospitality Ventures Management Group
Hospitality Ventures Management Group is a privately owned, fully-integrated hotel ownership and management group that specializes in turning around and repositioning underperforming hotels. It currently operates 42 hotels in 17 states (coast to coast) totaling 7,619 guest rooms. HVMG operates independent and boutique hotels, resorts, and full-service, select service and extended stay branded hotels under the Hilton, Marriott, Hyatt, Starwood and IHG brands. Visit www.hvmg.com for more information.
About Garrison Investment Group
Garrison Investment Group is a leading middle market credit and asset based investor. The firm was founded in 2007 and is headquartered in New York. Garrison has approximately $3.2 billion of assets under management and a team of 63 employees (40 investment professionals). Our investment strategies focus on deploying capital in opportunities across Corporate Finance (corporate loans and select equity investments), Financial Assets (commercial & industrial loans and consumer loans), Private Equity and Real Estate. Our team of experienced professionals enables us to source and execute transactions across our multiple investing disciplines.
Garrison manages investor capital through a diversified set of funds including private equity format funds and corporate credit lending funds. Garrison also manages capital for third parties through various Managed Accounts. Through our affiliate, Garrison Loan Management, we also manage Collateralized Loan Obligations (CLOs).