ATLANTA—Hospitality Ventures Administration Group introduced that the corporate added eight new motels to its portfolio in 2024, bringing the full variety of properties it holds to 51. The brand new additions embody a mixture of Marriott and Hilton branded motels protecting way of life, select-service, full-service, and extended-stay classes.
“2024 was an excellent yr for HVMG, including practically 1,200 new rooms to our nationwide portfolio,” mentioned Robert Cole, president and CEO, HVMG. “Concurrently, we had been in a position to obtain portfolio-wide RevPAR Index progress for the fourth consecutive yr, marking RevPAR Index progress for 9 out of the previous ten years. Over the trailing 12 months alone, this progress has delivered greater than $60 million in extra asset worth for homeowners whenever you consider our portfolio common flow-through.”
The corporate derived 70 % of its income from full-service motels.
“Our deal with growing and recruiting glorious expertise via packages like our Expertise Acquisition Heart of Excellence (TACOE) and XLR8 management improvement program continues to pay dividends,” Cole mentioned. “We strongly imagine that our affiliate satisfaction results in premium monetary returns for our companions. This award is a testomony to the ‘Be Wonderful’ tradition our groups have instilled, and I’m extremely pleased with what they’ve achieved.”
