May 5, 2023
TKo Hospitality Management announced Friday it was named Developer of the Year by Hyatt for its select service properties. The award was presented to TKo Hospitality at Hyatt’s 2023 Americas Owners Conference held at Secrets Moxché Playa del Carmen.
Since launching in 2015, TKo Hospitality Management has quickly expanded its portfolio to include six Hyatt Place hotels and Hyatt House hotels across the Mid-Atlantic with a seventh property scheduled to open this month in Downtown Newark, Delaware, according to a press release.
“TKo has provided meaningful growth to the Hyatt family, with their soon to open seventh property across the Mid-Atlantic, while also extending our Purpose of Care into everything they do,” said Jim Tierney, SVP, Development & Owner Relations for Hyatt. “The Developer of the Year Award celebrates developers for their excellence in areas such as creativity, construction quality and attention to detail during hotel development, all of which TKo exemplifies.”
In 2022, TKo managed properties consistently ranked in the top 10% of their respective brands for guest experience performance establishing themselves as the #1 management company in guest satisfaction metrics for operators with six or more hotels. The company finished 2022 as one of Hyatt’s leading operators, boasting a portfolio RevPAR Index of 121.9.
In addition to driving RevPAR Index as a portfolio, TKo’s four new hotel openings all achieved a 100+ RevPAR Index on an average of 2.5 months, reflecting the strong commercial culture that has been cultivated alongside their best-in-class guest experience delivery.
“We are proud to dedicate this award to our team members at our Hyatt properties who have consistently provided first-class services for our guests, owners, and local communities,” stated Kostas Kalogeropoulos, CEO, TKo Hospitality.
The accelerated growth is expected to continue as TKo Hospitality explores opportunities to work with Hyatt to support the launch of Hyatt’s new brand, Hyatt Studios. With an expressed interested in developing several of these new properties in the coming years, TKo Hospitality Management continues to be an innovative and dedicated industry leader.