Hospitality Ventures Management Group (HVMG), the Atlanta-based third-party hotel operator and investor, announced it has inducted eight new hotels to its portfolio this year. This brings the total number of properties it holds to 51.
The new additions include Marriott and Hilton branded hotels in the lifestyle, select-service, full-service and extended-stay categories. This year has been a stellar one for HVMG, the company said in a release, as it continued to grow its portfolio-wide RevPAR Index for the fourth consecutive year and nine of the past 10 years.
HVMG added nearly 1,200 new rooms to its U.S. portfolio, Robert Cole, president and CEO, HVMG said.
“Over the trailing 12 months alone, this growth has delivered more than $60 million in additional asset value for owners when you factor in our portfolio average flow-through,” Cole said.
About 70% of HVMG’s revenue is derived from full-service hotels. Besides its impressive growth, the company also received strong marks for its internal culture work environment. For the sixth year in a row, HVMG claimed the top spot in the top 20 of the Atlanta Journal-Constitution’s Atlanta’s Top Workplaces 2024, the company said.
HVMG was recognized out of more than 8,000 applicants, with results based on third-party associate surveys.
“Our focus on developing and recruiting excellent talent through programs like our Talent Acquisition Center of Excellence and XLR8 leadership development program continues to pay dividends,” Cole said. “We strongly believe that our associate satisfaction leads to premium financial returns for our partners. This award is a testament to the ‘Be Excellent’ culture our teams have instilled and I am incredibly proud of what they have accomplished.”
HVMG is a privately-owned and fully integrated group specializing in repositioning and turning around underperforming hotels as well as maximizing the performance of stabilized hotels. The company currently operates 51 hotels and a convention center across 17 states totaling more than 8,700 rooms.
