Hospitality Ventures Management Group (HVMG), a privately owned hotel ownership and management company based in Atlanta, today announced that it has retained the management contract for the AAA four-diamond The Shores Resort & Spa in Daytona Beach Shores, FL after it was purchased recently by New York-based Garrison Investment Group. The 212-room resort has been in HVMG’s management portfolio since 2009. HVMG played an active role in assisting with the sale and closing of the transaction.
The Shores Resort & Spa represents the third upscale property HVMG manages for Garrison Investment Group. Earlier this year, Garrison purchased the Hilton Houston Southwest from HVMG and retained HVMG to manage the property. HVMG manages 41 hotels throughout the U.S. and a total of seven hotels in Florida, including six independent resorts.
“Entering this new management chapter with Garrison as the owner of The Shores is an exciting opportunity to expand our partnership with them and enhance the resort’s standing as one of the top luxury properties along Florida’s east coast,” says Robert Cole, HVMG President & CEO. “Garrison recognized HVMG’s proven operational expertise, hands-on-management style, knowledge of the Florida market, and a track record of maximizing property performance and value.”
“Retaining HVMG to manage The Shores Resort & Spa was an obvious decision given the firm’s proven track record at this resort and their outstanding industry reputation for maximizing ownership value,” says Chuck Pomerantz, Managing Director of Garrison Investment Group. “HVMG brought us an excellent investment opportunity that was made all-the-more attractive by being able to keep its proven and successful management team in place.”
The AAA four-diamond The Shores Resort & Spa is the premier resort in Daytona Beach. The luxurious oceanfront resort is located at 2637 South Atlantic Ave. along “The World’s Most Famous Beach.” Offering the best of the beach in a remarkable resort setting, The Shores features more than 20,000 square feet of flexible meeting space, fine dining and the boutique Indulge spa.
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 41 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).